NIO Inc. (NYSE: NIO) reported Q2 EPS of (RMB3.28), RMB0.32 worse than the analyst estimate of (RMB2.96). Revenue for the quarter came in at RMB8.77 billion versus the consensus estimate of RMB9.16 billion.

Vehicle deliveries were 23,520 in the second quarter of 2023, consisting of 10,492 premium smart electric SUVs and 13,028 premium smart electric sedans, representing a decrease of 6.1% from the second quarter of 2022, and a decrease of 24.2% from the first quarter of 2023.

GUIDANCE:

NIO Inc. sees Q3 2023 revenue of up 45.3-50.1% to RMB18.898-19.52 billion, or U.S. $2.606-$2.692 billion. Deliveries of vehicles to be between 55,000 and 57,000 vehicles, representing an increase of approximately 74.0% to 80.3% from the same quarter of 2022.

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