蔚来汽车公告称，2025年6月交付车辆24,925辆，同比增长17.5%；2025年第二季度交付车辆72,056辆， 同比增长25.6%。截至2025年6月30日，蔚来汽车(NIO.N)累计交付量已达785,714辆。其中， 蔚来品牌累 计交付新车725,248台；乐道品牌累计交付新车52,623台；firefly萤火虫品牌累计交付新车7,843台。 ...

在新能源 "全线飘红" 的表象下，一场围绕市场份额的激烈角 逐正悄然改变格局——新势力头部阵营洗牌、传统车企加速转 型，行业进入深度调整期。 作者：周菊 封图：图虫创意 近日，国内各新能源汽车生产企业陆续公布5月销量数据。在"五一"小长假等因素的带动下，几乎所有车企都实现了销量增长。据乘联会初步推算，5 月新能源零售预计可达98万辆，同比增长22%，新能源汽车渗透率维持在52.9%左右。 在新能源 "全线飘红" 的表象下，一场围绕市场份额的激烈角逐正悄然改变格局 —— 新势力头部阵营洗牌、传统 车 企加速转型，行业进入深度调整 期。 | 序号 | 新势力车企 | 5月销量(万辆) | 同比 | 1-5月销量(万辆) | 同比 | | --- | --- | --- | --- | --- | --- | | 1 | 零跑汽车 | 4.5 | 148% | 17.4 | 161% | | വ | 理想汽车 | 4.1 | 17% | 16.7 | 19% | | 3 | 赛力斯问界 | 3.7 | 35% | - | - | | 4 | 小鹏汽车 | 3.4 | 230% | 16.3 | 293% | | 5 ...

本报记者 刘钊 近日，蔚来集团（以下简称"蔚来汽车"或"蔚来"）发布2025年第一季度财报。数据显示，公司一季度营收超120亿元，同 比增长超21%。公司一季度整车毛利率10%，一季度新车交付4.29万辆，同比增长超40%。尽管销量增长，但公司的净亏损仍处 高位，反映出蔚来汽车在市场竞争加剧、内部调整深化背景下面临阶段性挑战。 g 0 @ F f ®- I 李斌 f 蔚来汽车创始人、董事长李斌在媒体沟通会上发言 公司供图 从规模扩张转向经营质量提升 在媒体沟通会上，李斌多次强调蔚来汽车已进入"技术收获期"。他特别提到全球首款量产5纳米智驾芯片神玑NX9031。 "去年一辆车上四颗Orin芯片，我们花了3亿多美金。今年全部换成自研芯片，成本大幅降低。"李斌表示。 据介绍，这款芯片已搭载于ET9、新款ES6等车型，不仅性能提升，更在供应链自主可控上迈出关键一步。配合"蔚来世界 模型NWM"的推送，构建起从硬件到软件的完整技术闭环。 产品方面，蔚来汽车正经历密集的产品切换周期。旗舰车型ET9在高端市场表现亮眼。据李斌透露，4月份是ET9第一个完 整交付月，销量已超过宝马7系和奥迪A8同期水平。这款行政级轿车，凭借原 ...

随着交付量提升，蔚来的收入也随之上涨。 6月3日，蔚来(09866.HK、NIO.NYSE)发布的2025年第一季度业绩公告显示，公司一季度收入总额达120.35亿元， 同比增长21.5%；经营亏损61.48亿元，同比增长19%。 公告显示，蔚来2025年一季度的汽车交付量达4.21万辆，同比增长40.07%。 值得一提的是，2025年一季度，蔚来的研发费用为31.81亿元，同比增长11.1%。 2025年4月，蔚来旗下的萤火虫正式上市并开始交付，与蔚来品牌、乐道品牌在汽车市场齐聚。 蔚来预计，2025年二季度，公司汽车交付量约为7.2万至7.5万辆，较2024年同期增加约25.5%至30.7%。 6月3日，蔚来管理层表示，2025年四季度NIO品牌(蔚来品牌)有望达到月销量25000辆的水平，比上年稳态2万台的 销量提高25%。同时，四季度要实现盈亏平衡。 业绩公告显示，蔚来2025年一季度的汽车交付量达4.21万辆，同比增长40.07%，包括本公司旗下蔚来品牌的高端 智能电动汽车2.73万辆，以及本公司旗下乐道品牌的家庭智能电动汽车1.48万辆。 2025年一季度，蔚来的其他销售额为20.95亿元，同比增 ...

Core Viewpoint - NIO aims to achieve profitability in the fourth quarter of this year, with a focus on improving operational efficiency and maintaining a balance between sales volume and profitability [2][8][20] Financial Performance - In Q1, NIO reported revenue of 12.035 billion yuan, a year-on-year increase of 21.5%, with vehicle sales contributing 9.939 billion yuan, up 18.6% [4] - The company delivered 42,100 vehicles in Q1, a 40% increase year-on-year, with NIO brand sales at 27,000 and Lada brand at 14,800 [4] - Gross profit for Q1 was 919.6 million yuan, an 88.5% increase, with a gross margin of 7.6%, up 2.7 percentage points [4] - The net loss for Q1 was 6.75 billion yuan, a 5.1% year-on-year reduction [5] Future Projections - For Q2, NIO expects vehicle deliveries to be between 72,000 and 75,000, representing a year-on-year increase of approximately 25.5% to 30.7% [5] - Revenue for Q2 is projected to be between 19.513 billion and 20.068 billion yuan, a year-on-year growth of about 11.8% to 15% [5] - The average selling price of new vehicles has increased by over 10% in Q2, leading to an expected gross margin recovery to around 15% [5] Strategic Initiatives - NIO is implementing a new operational model called CBU (Cell Business Unit) to enhance efficiency and accountability across various business units [17] - The company is focusing on cost control and efficiency improvements, with a target to reduce R&D expenses by 15% in Q2 and further to 20 billion to 25 billion yuan in Q4 [11] - NIO plans to utilize its battery swap stations as small car showrooms to reduce channel costs and penetrate lower-tier markets [18] Market Positioning - The Lada brand is expected to achieve a monthly sales target of 25,000 units in Q4, supported by a reduction of 40% in frontline staff and improved sales team efficiency [13][15] - NIO's management emphasizes the importance of maintaining a balance between sales volume and profitability, avoiding overly aggressive sales targets [6][9]

Core Insights - NIO Inc. reported Q1 2025 revenue of 12.0347 billion yuan (1.6584 billion USD), representing a 21.5% increase year-over-year but a 38.9% decrease from Q4 2024 [2] - The company experienced a gross profit of 919.6 million yuan (126.7 million USD), an 88.5% increase from Q1 2024 but a 60.2% decrease from Q4 2024, resulting in a gross margin of 7.6% [2] - NIO's net loss for Q1 2025 was 6.75 billion yuan (930.2 million USD), a 30.2% increase year-over-year but a 5.1% decrease from Q4 2024 [3] Financial Performance - Automotive sales revenue was 9.9393 billion yuan (1.3697 billion USD), an 18.6% increase from Q1 2024 but a 43.1% decrease from Q4 2024, with an automotive gross margin of 10.2% [2] - Operating loss for Q1 2025 was 6.4181 billion yuan (884.4 million USD), a 19.0% increase year-over-year and a 6.4% increase from Q4 2024 [2] - R&D expenses totaled 3.1814 billion yuan (438.4 million USD), an 11.1% increase from Q1 2024 but a 12.5% decrease from Q4 2024 [3] Delivery and Future Outlook - NIO delivered 42,094 vehicles in Q1 2025, a 40.1% increase from Q1 2024 but a 42.1% decrease from Q4 2024 [4] - The company expects Q2 2025 vehicle deliveries to be between 72,000 and 75,000, representing an increase of approximately 25.5% to 30.7% year-over-year [5] - Projected revenue for Q2 2025 is estimated to be between 19.513 billion yuan (2.689 billion USD) and 20.068 billion yuan (2.765 billion USD), reflecting a year-over-year growth of approximately 11.8% to 15% [5]