• NIO average operating margin for 2023 was -41.37%, a 73.39% decline from 2022.
• NIO average operating margin for 2022 was -23.86%, a 97.19% increase from 2021.
• NIO average operating margin for 2021 was -12.1%, a 83.47% increase from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.