NIO's Q2 China Business Shows Profitability Progress, But European Sales Stall and J.P. Morgan Downgrades Stock on Revenue Miss
NIO reported its Q2 2026 results on September 1, with vehicle deliveries up 49.4% year-over-year to 107,658 units and revenue up 69.1% to $4.74 billion, missing Wall Street's $4.95 billion consensus. Net loss improved 89.4% year-over-year to RMB0.5 billion, and adjusted net profit came in at RMB26.1 million. However, European registrations plummeted, with Germany down 93.6% in July. Following the report, J.P. Morgan downgraded NIO, setting a $4.50 price target and cutting 2026 delivery estimates to 430,000 units.
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