NIO Inc ADR

NIO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Nio Earnings: Results In Line; Breakeven Target Maintained Despite Lower Volume Guidance

Vincent Sun

Nov 26, 2025

Nio’s third-quarter revenue grew 17% year on year, slightly missing the low end of guidance. Price competition and product mix change led to an 18% decline in vehicle pricing. With a 41% growth in vehicle volume, vehicle operating margin is back, after three years, to the midteens level.

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NIO Inc ADR

Nio Earnings: Results In Line; Breakeven Target Maintained Despite Lower Volume Guidance

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