A Nio showroom. Credit: NBD Understand China EV’s Market Real-time notifications when critical EV data is released All important data in one place 2,000,000+ data points Become a member Nio today released its financial results for the first quarter of 2026, reporting its second consecutive quarter of profitability. Earlier, on March 10, 2026, it reported its first-ever quarterly profitability in the fourth quarter of 2025. According to the report, Nio achieved an operating profit of 66.8 million yuan (9.8 million USD) for the quarter. This financial stability is particularly notable given the broader market environment, for instance, Leapmotor, which achieved 2025 whole year profitability, despite seeing growth in deliveries, reported a net loss of 390 million yuan (57 million USD) for the same period, illustrating that achieving profitability in the current Q1 landscape remains a significant hurdle for many manufacturers. Nio’s total revenue for the quarter reached 25.53 billion yuan (3.75 billion USD), a 112.2% increase year-on-year. The company’s focus on the high-end segment has paid off, with total gross profit soaring 428.4% to 4.86 billion yuan (715 million USD). Key financial highlights from Nio’s Q1 report include: Record margins: The consolidated gross margin reached a four-year high of 19.0%. Vehicle performance: Vehicle margin rose to 18.8%, marking the fourth consecutive quarter of growth. Sales dominance: The ES8 achieved retail sales of 13,020 units in April. It has now held the title of the best-selling model in the 400,000 yuan (58,800 USD) and above price bracket for five consecutive months across all energy types. Cash position: The company’s cash reserves have climbed to 48.2 billion yuan (7 billion USD), supported by three straight quarters of positive operating cash flow. Looking ahead, Nio provided an optimistic outlook for the second quarter of 2026. The company expects to deliver between 110,000 and 115,000 vehicles, representing a year-on-year increase of up to 59.6%. Revenue guidance for Q2 is set between 32.78 billion yuan (4.8 billion USD) and 34.44 billion yuan (5.06 billion USD). As we reported before, data from the China Passenger Car Association (CPCA) shows that the domestic auto industry’s profit margin dropped to 3.2% in the first quarter of 2026, with the January-February period hitting a decade-low of 2.9%. Nio Group sales performance. Over the past 12 months, Nio’s monthly sales have consistently grown year-on-year, largely thanks to the massive success of the ES8.