

Net loss attributable to NIO’s ordinary shareholders was RMB4,803.6 million (US$699.5 million) in the first quarter of 2023, representing an increase of 163.2% from the first quarter of 2022 and a decrease of 17.8% from the fourth quarter of 2022. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB 4,150.1 million (US$604.3 million) in the first quarter of 2023, representing an increase of 216.9% from the first quarter of 2022 and a decrease of 18.1% from the fourth quarter of 2022. Net loss was RMB4,739.5 million (US$690.1 million) in the first quarter of 2023, representing an increase of 165.9% from the first quarter of 2022 and a decrease of 18.1% from the fourth quarter of 2022.

Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB4,522.4 million (US$658.5 million) in the first quarter of 2023, representing an increase of 163.6% from the first quarter of 2022 and a decrease of 24.8% from the fourth quarter of 2022. Loss from operations was RMB5,111.8 million (US$744.3 million) in the first quarter of 2023, representing an increase of 133.6% from the first quarter of 2022 and a decrease of 24.1% from the fourth quarter of 2022. Gross margin was 1.5% in the first quarter of 2023, compared with 14.6% in the first quarter of 2022 and 3.9% in the fourth quarter of 2022. Gross profit was RMB162.3 million (US$23.6 million) in the first quarter of 2023, representing a decrease of 88.8% from the first quarter of 2022 and a decrease of 73.9% from the fourth quarter of 2022. Total revenues were RMB10,676.5 million (US$1,554.6 million) in the first quarter of 2023, representing an increase of 7.7% from the first quarter of 2022 and a decrease of 33.5 % from the fourth quarter of 2022. Vehicle margin ii was 5.1% in the first quarter of 2023, compared with 18.1% in the first quarter of 2022 and 6.8% in the fourth quarter of 2022. Vehicle sales were RMB9,224.5 million (US$1,343.2 million) in the first quarter of 2023, representing a decrease of 0.2% from the first quarter of 2022 and a decrease of 37.5% from the fourth quarter of 2022. While shares of LI have risen 7.8%, shares of NIO and XPEV have lost 58.8% and 67.8%, respectively, over the past year.Financial Highlights for the First Quarter of 2023 Li’s monthly sales saw a rise of 10.1% from 25,681 vehicles in April. Its servicing centers totaled 319 and Li Auto-authorized body and paint shops operated in 222 cities. LI’s cumulative deliveries totaled 363,876 as of month-end.Īs of May 31, 2023, Li’s retail stores totaled 314 in 124 cities. Also, May was the second consecutive month in which Li L7s deliveries exceeded 10,000. This marked the third straight month with deliveries of more than 20,000 units. Li Auto delivered 28,277 vehicles in May 2023, up 146% year over year.

XPeng saw a rise in month-on-month sales of 6% from 7,079 cars in April.

The company delivered 32,815 smart EVs for the first five months of the year, representing a 39% decline year over year. XPeng reported 7,506 monthly deliveries of Smart EVs in May, representing a 25.9% decline year over year. NIO’s monthly deliveries fell 7.6% from April’s figure of 6,658 vehicles. Year to date, NIO has delivered 43,854 vehicles, up 15.8% year over year. It started deliveries of the same on May 24. On May 19, NIO began deliveries of the 2023 ET7 and launched the All-New ES6. Cumulative deliveries of NIO vehicles reached 333,410 as of May 31, 2023. The deliveries included 2,396 premium smart electric SUVs and 3,759 premium smart electric sedans. NIO delivered 6,155 vehicles in May, down 12.4% year over year. XPEV and Li Auto LI, recently announced their respective delivery updates for May 2023. The three China-based smart electric vehicle (EV) companies, NIO Inc.
