Deutsche Bank analyst Bin Wang said NIO’s 1Q vehicle margin should benefit from an improved product mix, offsetting higher costs and weaker sales. The ES8 SUV posted a gross margin near 25% in 4Q with about 40,000 units sold, and sales are expected to rise in 1Q on a solid order backlog, signaling a favorable mix shift. While sourcing costs are increasing, the impact should be limited due to long-term supply contracts.

2026-03-19

Deutsche Bank analyst Bin Wang said NIO’s 1Q vehicle margin should benefit from an improved product mix, offsetting higher costs and weaker sales. The ES8 SUV posted a gross margin near 25% in 4Q with about 40,000 units sold, and sales are expected to rise in 1Q on a solid order backlog, signaling a favorable mix shift. While sourcing costs are increasing, the impact should be limited due to long-term supply contracts.