Nio’s right place, right time may be short-lived, says KatrinaHamlin:
Electric-car maker Nio reported a loss of 9.6 billion yuan in 2018, compared with 5 billion yuan in 2017, the company reported. Revenue grew to almost 5 billion yuan in the same period, their first year of sales.
Nio’s shares were down 11 percent at $9.04 in extended trading after reporting the results on March 5. Car sales in China fell by 2.8 percent in 2018, compared with a year earlier, China's Association of Automobile Manufacturers said on Jan. 14. It was the first time the country’s auto market had contracted since the 1990s.
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