NIO Likely to Achieve Non-GAAP Profit in 4Q, DB Says
Dow Jones12-03
NIO will likely achieve its aim to report non-GAAP profit in the fourth quarter, thanks to an anticipated sequential cut in R&D expenses, Deutsche Bank analyst Bin Wang writes in a note.
The electric-vehicle maker expects vehicle gross margin to surge around 18% in 4Q, driven by a favorable product mix with a significant increase in high-margin ES8 SUV deliveries, Wang says.
The ES8 is on track to hit the 2025 sales target of 40,000 units, with a projected 33,000 units in 4Q alone, the analyst says. In addition, the company's other sales and services segment is expected to maintain consistent revenue and gross profit compared with the third quarter, DB says.
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