0617 GMT - NIO's 1Q vehicle margin could fall sequentially to 11%-12%, but an inflection point is around the corner, Citi Research says in a note. Analysts Jeff Chung and Kyle Wu think the Chinese EV maker's earnings could improve from mid-2Q on an expected ramp-up in model launches, margin expansion and cost control. Leading up to that, a slow sales season, tepid sales of NIO's namesake brand ahead of model upgrades, and Onvo brand's weaker-than-expected sales will likely pressure margins, they say. That last factor prompts Chung and Wu to cut their sales-volume forecasts by 4.8% to 393,000 units for 2025 and 8.8% to 456,000 units for 2026. Citi lowers NIO's target price to HK$62.50 from HK$68.10 and keeps a buy rating. Shares fall 5.15% to HK$34.05. (farah.elias@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 02:17 ET (06:17 GMT)
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