NIO Net Loss Narrows on Strong Sales, Margin

Chinese electric-vehicle maker NIO NIO 3.05%increase; green up pointing triangle reported a smaller net loss in the third quarter, reversing a recent widening trend, as sales and margins improved significantly despite stiff competition in the world’s largest auto market.

The Shanghai-based company on Tuesday said its net loss narrowed to 3.66 billion yuan, equivalent to $515.3 million, from 5.14 billion yuan a year earlier. That was better than the 3.71 billion yuan estimate of analysts polled by Visible Alpha.

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