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Nio Sales Fall Short as China EV Price War Takes Its Toll
- Lower selling prices hit EV maker’s revenue in third quarter
- Chinese manufacturers have had to discount amid competition
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Nio Inc. reported revenue that missed estimates as the Chinese premium electric-car maker continues to weather a bruising price war in its home country.
Revenue rose to 18.7 billion yuan ($2.6 billion) in the three months through September after the company delivered 61,855 cars in the quarter. Nio reported a 4.4 billion yuan adjusted net loss, which was also slightly wider than analysts were expecting.