Deliveries of vehicles were 24,439 in Q3 2021, including 5,418 ES8s, 11,271 ES6s and 7,750 EC6s, representing an increase of 100.2% from Q3 2020 and an increase of 11.6% from Q2 2021.
Vehicle sales were RMB8,636.8 million (US$1,340.4 million) in Q3 2021, representing an increase of 102.4% from Q3 2020 and an increase of 9.2% from Q2 2021. The vehicle margin was 18.0%, compared with 14.5% in Q3 2020 and 20.3% in Q2 2021.
Total revenues were RMB9,805.3 million (US$1,521.8 million) in Q3 2021, representing an increase of 116.6% from Q3 2020 and an increase of 16.1% from Q2 2021.
Gross profit was RMB1,993.2 million (US$309.3 million) in Q3 2021, representing an increase of 240.3% from Q3 2020 and an increase of 26.6% from Q2 2021. The gross margin was 20.3%, compared with 12.9% in Q3 2020 and 18.6% in Q2 2021.
Loss from operations was RMB991.9 million (US$153.9 million) in Q3 2021, representing an increase of 4.9% from Q3 2020 and an increase of 29.9% from Q2 2021.
Excluding share-based compensation expenses, adjusted loss from operations (non-GAAP) was RMB726.3 million (US$112.7 million) in Q3 2021, representing a decrease of 19.0% from Q3 2020 and an increase of 41.9% from the second quarter of 2021.
Net loss was RMB835.3 million (US$129.6 million) in Q3 2021, representing a decrease of 20.2% from Q3 2020 and an increase of 42.3% from Q2 2021.
Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was RMB 569.7 million (US$88.4 million) in Q3 2021, representing a decrease of 42.9% from Q3 2020 and an increase of 69.7% from Q2 2021.
Net loss attributable to NIO’s ordinary shareholders was RMB2,858.9 million (US$443.7 million) in Q3 2021, representing an increase of 140.7% from Q3 2020 and an increase of 333.6% from the Q2 2021.
In Q3 2021, NIO repurchased 1.418% equity interest in NIO China from a minority strategic investor for a total consideration of RMB2.5 billion and recorded an amount of RMB2,023.5 million (US$314.0 million) in accretion on redeemable non-controlling interests to redemption value.
Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted net loss attributable to NIO’s ordinary shareholders (non-GAAP) was RMB569.7 million (US$88.4 million).
Basic and diluted net loss per American Depositary Share (ADS)iii were both RMB1.82 (US$0.28) in the third quarter of 2021. Excluding share-based compensation expenses and accretion on redeemable non-controlling interests to redemption value, adjusted basic and diluted net loss per ADS (non-GAAP) were both RMB0.36 (US$0.06).
Cash and cash equivalents, restricted cash and short-term investment were RMB47.0 billion (US$7.3 billion).