• NIO average operating margin for 2023 was -43.27%, a 58.79% decline from 2022.
• NIO average operating margin for 2022 was -27.25%, a 153.02% increase from 2021.
• NIO average operating margin for 2021 was -10.77%, a 80.43% 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.