Nio Auto reported Q3 revenue of 18.7 billion RMB ($2.6 billion), falling short of expectations, with a net loss of 4.4 billion RMB ($600 million). The company delivered 61,855 vehicles but saw automotive sales revenue decline due to lower average selling prices. While rivals like XPeng and Zeekr invest in range-extended EVs, Nio remains focused on pure electric vehicles. It targets Q4 deliveries of 72,000 to 75,000 units, below analyst forecasts, with revenue projected to reach up to 20.4 billion RMB ($2.85 billion). CFO Steven Feng said new models launching in 2024 should drive sales growth, positioning Nio to navigate rising competition and shifting market trends.