NIO's Q2 2026 revenue climbs 69.1% as gross margin nearly doubles to 18.4%
NIO reported second-quarter 2026 revenue of RMB32,136.9 million, up 69.1% year over year, while gross margin rose to 18.4% from 10.0% a year earlier.
- RMB32,136.9 million (US$4,736.4 million), up 69.1% year over year
- 18.4%, compared with 10.0% in Q2 2025
- RMB56.7 billion (US$8.4 billion), up 108.7% year over year
- 108,000 to 111,000 vehicles, up approximately 24.0% to 27.5% year over year
What Happened
NIO announced unaudited financial results for the second quarter ended June 30, 2026. Total revenues were RMB32,136.9 million (US$4,736.4 million), an increase of 69.1% from the second quarter of 2025. Gross profit rose 211.3% year over year to RMB5,906.5 million (US$870.5 million). Other sales were RMB3,078.6 million (US$453.7 million), up 7.2% from the second quarter of 2025 and 12.0% from the first quarter of 2026.
- 18.4% vs 10.0%
- 18.5% vs 10.3%
- 17.0%, up 8.8 percentage points year over year
RMB56.7 billion (US$8.4 billion)
Up 108.7% year over year and 17.7% quarter over quarter.
- Total revenues reached RMB57.67 billion (US$8,437.9 million), up 85.8% year over year.
- Gross profit increased 282.2% to RMB10.77 billion (US$1,574.9 million).
- Cash reserves at the end of the second quarter were RMB56.7 billion (US$8.4 billion), up 108.7% year over year and 17.7% quarter over quarter.
- NIO delivered positive operating cash flow for the fourth consecutive quarter.
For the third quarter of 2026, NIO expects deliveries of between 108,000 and 111,000 vehicles, an increase of approximately 24.0% to 27.5% from the same quarter of 2025. Total revenues are guided to between RMB33,285 million (US$4,906 million) and RMB34,051 million (US$5,019 million), an increase of approximately 52.7% to 56.2% from the same quarter of 2025.
108,000 to 111,000 vehicles
Approximately 24.0% to 27.5% above the same quarter of 2025.
Previously from NIO
Our earlier coverage noted that NIO delivered 35,836 vehicles in August, a 14.5% year-over-year increase led by a 101.2% jump in its premium NIO brand. The ES8 electric SUV accounted for 10,999 of those deliveries, keeping it above 10,000 units for a second consecutive month and bringing its eight-month tally to 99,946. The third-generation ES8 was also nearing its 150,000th China delivery.
- NIO Delivers 35,836 Vehicles in August, Up 14.5% YoY
- NIO ES8 August Deliveries Reach 10,999 as Five-Seat Variant Extends SUV Momentum
- Nio's third-generation ES8 nears 150,000 China deliveries after a 10,000-unit month
Background drawn from MotorClaw's earlier coverage of NIO's official releases.
Why this matters
The report shows NIO growing revenue sharply while improving margins: gross margin nearly doubled year over year, and gross profit more than tripled. Cash reserves of RMB56.7 billion, up 108.7% year over year, plus a fourth consecutive quarter of positive operating cash flow, give the company more financial room as it guides for higher third-quarter deliveries.
Terms in This Story
- Gross margin
- The share of revenue left after subtracting the direct cost of the goods sold, expressed as a percentage.
- Vehicle margin
- A carmaker's gross margin calculated only on vehicle sales, excluding other revenue such as services.
- Operating cash flow
- Cash generated by a company's normal business operations over a period, before financing and investing activities.
- RMB
- Renminbi, China's currency, also referred to as the yuan.
Summarised from the linked release; details can be imperfect — always verify against the original source.