nio releases 2024q2 financial report: seeking growth in balance between volume and profit

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in nio's second quarter 2024 financial report, total revenue exceeded 17.446 billion yuan, a year-on-year increase of 98.9% and a month-on-month increase of 76.1%. net loss was 5.046 billion yuan, a year-on-year reduction of 16.7% and a month-on-month reduction of 2.7%. li bin said in a conference call that nio believes in the balance between quantity and profit. "in terms of quantity, we still have the opportunity to go up a bit, but in general, we still have to balance the relationship between quantity and gross profit, so we hope that while gradually increasing gross profit, we can also have quantity growth, but we don't expect a particularly large leap." li bin said that the nio brand will continue to focus on the 300,000 yuan market segment in the future, and achieve the goal of selling 30,000 to 40,000 bevs per month in the chinese market through new products and product updates.

the strategic goal of "balancing volume and profit"

weilai's strategic goal is to achieve sales growth and profitability by continuously improving gross profit margins. li bin believes that in the long run, the weilai brand will continue to focus on the rmb 300,000 market segment, and believes that with the release of new products and product updates, the monthly sales target can be achieved at around 30,000 to 40,000 vehicles. "from the perspective of business planning, weilai's monthly sales of 40,000 vehicles and a gross profit margin of 25% are our long-term business goals," said li bin.

competitors are happy, gross profit target is more than 15%

at the same time, li bin believes that ledao has a larger market size, with a total potential market size of more than 8 million vehicles, and its charging and swapping network advantages are also more obvious. its sales ceiling must be higher than that of weilai, but "from the perspective of gross profit margin, we also believe that it should have a reasonable gross profit target of more than 15%. this is our mid- to long-term business plan."

future outlook:

as the new energy vehicle market continues to develop, nio will continue to focus on the rmb 300,000 market segment and achieve its monthly sales target through new products and product updates. at the same time, li bin also said that he will continue to pay attention to the development of competitor ledao and strive to improve the quality of its own products and services to provide users with a better experience.