Nio Posts Smaller-Than-Expected Loss as Sales Nearly Double (1)

Chinese electric carmaker Nio Inc.reported a smaller-than-expected first quarter loss after vehicle sales nearly doubled.

The automaker posted an operating loss of 309 million yuan ($45.4 million) for the three months ended March 31, the Shanghai-based company said in a statement Thursday, having posted its first-ever quarterly profit in the previous three months. The March quarter shortfall was smaller than the 750 million yuan loss estimated by analysts.

Revenue came in at 25.5 billion yuan, largely in line with analysts’ estimates of 25.58 billion yuan, according to the statement. Vehicle margins — a key measure of production efficiency and ...