The Chinese electric car manufacturer Nio has presented its preliminary business figures for 2021. Annual sales amounted to approximately 36.1 billion yuan (5.2 billion euros), an increase of 122.3 per cent compared to the previous year. The company was also able to reduce its losses.
The net loss in 2021 was around 4.0 billion yuan (570 million euros), 24.3 per cent lower than the previous year, according to the statement. At the time, it was still 677 million euros (according to the exchange rate at the time). Nio delivered 91,429 electric cars last year, more than twice as many as in 2020 (+109.1 per cent). The three series ES8, ES6 and EC6 were delivered.
However, there was no large increase in deliveries at the end of the year: In the final quarter, Nio was able to deliver 25,034 cars, i.e. 27.4 per cent of the annual volume – and thus nearly exactly a quarter. Compared to Q4 2020, Nio was able to grow by 44.3 per cent, but compared to Q3 2021, the growth was only 2.4 per cent.
In terms of revenue, Nio achieved exactly the same ratio in Q4 as it did in terms of shipments: The 9.9 billion yuan is equivalent to 27.4 per cent of annual sales. So Nio did not deliver a conspicuous number of expensive or low-priced vehicles in the fourth quarter but kept its level in the model mix constant.
However, Nio says that the margin on vehicles has improved: This was 20.9 per cent in Q4 2021, according to the statement, compared to 17.2 per cent in Q4 2020 and 18.0 per cent in Q3 2021, but because revenue fell slightly in Q4, the gross margin was 17.2 per cent. This compares to 20.3 per cent in Q3.
While the company was able to reduce both the net loss and the loss from operations for the year, the final quarter showed a contrary development here: Ner net loss was 2.14 billion yuan (310 million euros) in Q4, an increase of 156 per cent compared to Q3. In other words, over 53 per cent of the total net loss of 4.0 billion yuan was incurred only in the fourth quarter.
Unlike previous announcements on financial figures, Nio no longer warns of doubts about its own continued existence. In fact, as of 31 December 2021, cash, restricted cash and short-term investments stood at 55.4 billion yuan, or the equivalent of 7.93 billion euros.
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