• NIO average pre-tax profit margin for 2023 was -38.44%, a 78.96% decline from 2022.
• NIO average pre-tax profit margin for 2022 was -21.48%, a 62.36% increase from 2021.
• NIO average pre-tax profit margin for 2021 was -13.23%, a 82.75% increase from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.