Nio increases sales and cuts losses in 2025

Chinese electric car manufacturer Nio increased sales across its three brands by 46.9 per cent to 326,028 vehicles last year. Revenue also rose accordingly, and Nio was able to reduce its net loss from 22.4 billion yuan to 14.9 billion yuan (around €1.85 billion euros).

This meant that Nio still operated at a high deficit for the whole of 2025, although the company emphasises that it actually made a profit for the first time on a quarterly basis in the fourth quarter of 2025: Operating profit in the fourth quarter was 807.3 million yuan (approx. €100 million euros), compared with an operating loss of around six billion yuan in the fourth quarter of 2024 and 3.5 billion yuan in the third quarter of 2025. Net profit in Q4/2025 was 282.7 million yuan (€35 million euros), compared to a net loss of 7.1 billion yuan in the fourth quarter of 2024 and 3.5 billion yuan in the third quarter of 2025. Nio had already anticipated the positive results in the fourth quarter and issued a corresponding forecast.

However, Nio still has to prove that this turnaround is here to stay. Traditionally, the fourth quarter is stronger than other quarters in terms of sales, so it remains to be seen whether Nio can now permanently embark on the path to profitability. Although Nio is quite successful in its home market of China, its internationalisation efforts have been bumpy. The company has just announced a restructuring in Europe, with more tasks being bundled at the European headquarters and the country units being weakened. As part of this, Nio and its German boss David Sultzer recently parted ways.

Deliveries up 71.7 per cent in Q4/25

But back to the figures: vehicle deliveries in the fourth quarter of 2025 totalled 124,807 vehicles, representing an increase of 71.7 per cent over the same period last year. Deliveries consisted of 67,433 vehicles from the core Nio brand, 38,290 vehicles from the family-oriented Onvo brand and 19,084 vehicles from the small car brand Firefly. For the full year 2025, deliveries of the three brands totalled 326,028 units, an increase of 46.9 per cent over the previous year.

From vehicle sales, Nio generated revenue of 76.9 billion yuan (around 9.5 billion euros) for the full year 2025 – an increase of 32 per cent compared to 2024. Total revenue was around 87.5 billion yuan (around €10.9 billion euros). Nio reports a gross margin of 13.6 per cent – a significant increase over the previous year’s 9.9 per cent.

The net loss improved by 33.3 per cent to a loss of 14.9 billion yuan (around €1.85 billion euros) after 22.4 billion yuan in the previous year. Adjusted for share-based compensation expenses and organisational optimisation costs, the net loss (non-GAAP) amounted to 12.4 billion yuan (around €1.5 billion euros), representing a decrease of 39.4 per cent compared to the previous year.

Further increasing operational efficiency

Nio views this development positively: “In the fourth quarter of 2025, our vehicle margin reached 18.1%, and other sales margin reached 11.9%. These improvements were primarily driven by the strong delivery and revenue growth, an optimized product mix, and cost reduction and efficiency enhancement initiatives,‘ said Nio CFO Stanley Yu Qu. “In 2026, we will continue to enhance operational efficiency and optimize cost, and deliver stronger, more sustainable performance for our users, partners and shareholders.”

And CEO William Bin Li announces: “Looking ahead to 2026, we will continue to invest decisively in our twelve full-stack core technologies, launch new models, enhance the commercial and operational capabilities of our battery swapping and charging network, and continue upgrading our sales and service network.”

nio.com