NIO's third-quarter revenue fell short of expectations, with the company's revenue increasing to 18.7 billion yuan (2.6 billion US dollars) for the three months ending in September, delivering 61,855 autos during the quarter. NIO reported an adjusted net loss of 4.4 billion yuan, slightly higher than analyst expectations.

NIO is one of the few electric auto manufacturers committed solely to producing pure electric vehicles, which means it is missing out on the more profitable hybrid vehicles that are surpassing pure electric vehicles. Many competitors, such as Xiaopeng Motors, zeekr, and Avita Technology, are planning to develop range-extended electric vehicles, which are equipped with small internal combustion engines to charge the battery.

NIO's goal is to deliver between 0.072 million and 0.075 million autos this quarter.

NIO's auto sales revenue decreased in the third quarter, primarily due to a decline in the average selling price. The gross margin increased to nearly 11%, roughly in line with expectations.

The chief financial officer, Qu Yu, stated during the earnings call that new models should begin to improve the company's sales starting next year.

NIO stated that the goal for this quarter is to deliver up to 0.075 million autos, which is below analyst expectations. The company indicated that fourth-quarter revenue could increase to as much as 20.4 billion yuan, also below analyst expectations.