• NIO average quick ratio for 2023 was 1.01, a 35.26% decline from 2022.
• NIO average quick ratio for 2022 was 1.56, a 33.9% decline from 2021.
• NIO average quick ratio for 2021 was 2.36, a 33.33% decline from 2020.

Quick ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by subtracting inventory from current assets and dividing by current liabilities.