Gasgoo Munich-NIO released its second-quarter financial report for 2026. The company posted an operating profit of 210 million yuan, marking its third consecutive quarter of profitability.
Total revenue for the quarter climbed to 32.14 billion yuan, a 69.1% jump from a year earlier. Gross profit surged 211.3% to 5.91 billion yuan. NIO’s overall gross margin widened to 18.4% — an 8.4 percentage point improvement — while vehicle margins rose 8.2 points to 18.5%. Other sales margins also strengthened, reaching 17.0% with an 8.8-point gain.
First-half revenue hit 57.67 billion yuan, climbing 85.8%, while gross profit soared 282.2% to 10.77 billion yuan. By the second quarter, cash reserves had swelled to 56.7 billion yuan — an increase of 8.5 billion yuan from the prior quarter. The company has now generated positive operating cash flow for four consecutive quarters.
Image Source: NIO
In terms of deliveries, NIO delivered 107,700 vehicles in the second quarter of 2026. That represents a 49.4% annual surge and a 29.0% jump from the first quarter.
Looking ahead, NIO set its third-quarter revenue guidance between 33.29 billion and 34.05 billion yuan — a 52.7% to 56.2% increase from a year ago. On a sequential basis, that implies growth of roughly 3.59% to 5.95%.
Delivery guidance for the period stands at 108,000 to 111,000 units, reflecting a 24.0% to 27.5% annual rise. Quarter-over-quarter, the company expects a modest increase of roughly 0.28% to 3.06%.
During the earnings call, NIO founder William Li noted that the NIO brand’s average transaction price climbed above 430,000 yuan in July. He added that only eight brands in China managed to grow both sales and price in the first half, with Onvo among them.
Turning to next year’s product roadmap, Li revealed that NIO’s Series 5 and Series 6 lineups will see new additions. Onvo is set to launch a strategically significant new model, while the Firefly brand will maintain a single-vehicle lineup.
Addressing rising raw material costs, Li pointed out that the average cost per vehicle increased by 14,000 yuan in the second quarter compared with the end of last year. He expects a further increase of 2,000 to 3,000 yuan in the second half of the year, bringing the total rise since year-end to between 16,000 and 17,000 yuan.
