"Even if we exclude these one-time headwinds, vehicle of margin of 13.5% would have been a miss and lowest since 2Q20," Deutsche Bank said.
CnEVPost Newsletter: Analyst views on NIO earnings; Spy shots of BYD F-brand's 1st model
CnEVPost Newsletter: Analyst views on NIO…
"Even if we exclude these one-time headwinds, vehicle of margin of 13.5% would have been a miss and lowest since 2Q20," Deutsche Bank said.