Nio Stock Continues to Drop Over 3% in Premarket Trading

Tiger Newspress2022-12-27

NIO shares dropped over 3% in premarket trading after prudently adjusting fourth quarter 2022 delivery outlook.

NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) today provided an updated delivery outlook for the fourth quarter of 2022.

In December 2022, the Company has been facing challenges in deliveries and productions, together with certain supply chain constraints, caused by the outbreak of the Omicron coronavirus variant in major cities in China. While their teams have strived to maintain continuous operations on all fronts, They were not able to reach their full capacities, particularly when there have been disruptions on delivery and registration procedures involving users.The Company now expects to deliver 38,500 to 39,500 vehicles in the fourth quarter of 2022, adjusted from previously released outlook of 43,000 to 48,000 vehicles.

On December 24, 2022, the Company hosted NIO Day 2022 in Hefei, China and launched the EC7, a smart electric flagship coupe SUV, and the All-New ES8, an all-around smart electric flagship SUV, from NIO Technology 2.0 (NT2.0). The design of the EC7 interprets the power of elegance to the extreme extent. In the ES8, the unique layout of “four executive seats and one flexible third row” demonstrates the composed and generous style of the All-New ES8 as a flagship SUV. Both products further contribute to the diversity of competitive product offering, bringing user experiences beyond expectations in terms of design, performance, comfort, intelligence, safety, and sustainability. The EC7 and the All-New ES8 are expected to commence delivery in May and June 2023, respectively.

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Comments

Wenmoon
2022-12-27
Wenmoon
$7-$8
Michrich
2022-12-27
Michrich
K
Wenmoon
2022-12-27
Wenmoon
$7 coming soon.
- Michrich:
  K
HKhin
2022-12-27
HKhin
Aih...then how..what is the target price?

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