NIO: Cheap For A Reason

Seeking Alpha2022-06-03

SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

357

Report

Comment（32）

AuntieAaA
·2022-06-05
GOOD
Reply
Like
Report
jeffilim
·2022-06-04
Nice
Reply
Like
Report
jeffilim
·2022-06-04
Nice
Reply
Like
Report
MP88
·2022-06-03
Ya
Reply
Like
Report
bento
·2022-06-03
K
Reply
Like
Report
PekTS
·2022-06-03
Okay
Reply
1
Report
TeslaLegend
·2022-06-03
Nice
Reply
1
Report
.kok
·2022-06-03
Like
Reply
1
Report
庭ST
·2022-06-03
[Smart]
Reply
3
Report
Gerardngo
·2022-06-03
Nio is selling premium cars at a higher price point compared to their rivals. Automatically the onesthat are cheaper would get more deliveries. Just because xiaomi sold more phones than the iPhone doesn't mean Xiaomi is a better investment than Apple. Author needs to do a like for like comparison for more credibility. Not saying Nio is the best EV stock out there, but in terms of growth and branding i think they are definitely at a discount right now.They are cheap for a few reasons.1. China stocks FUD (delist/crackdowns)2. Fed rate hike = growth stocks no longer attractive at this point due to higher interest rate in thefuture. 3. Tech sector gets affect the worst during the current times. EV is part of tech. 4. Supply chain shortage, this is still an ongoing issu
Reply
25
Report
JustInvest
·2022-06-03
[Like]
Reply
Like
Report
Guavaxf30
·2022-06-03
Sadly I think the author does make some sense. What is so different from last week? Oreven the few months even? Situation is mot quite there yet to buy in. But for the long term holders, just stay vested and turn off our computer. I believe things WILL change in a year or two.
Reply
4
Report
blessed_1
·2022-06-03
Ok
Reply
3
Report
Mikalee
·2022-06-03
Dun bring down the price by saying all these after this week slight increSe
Reply
3
Report
SalTheFun
·2022-06-03
Hold! Whatever is it, most of the stock is below 50% now compare it's peak! Atleast NIO did. Well
Reply
4
Report
bluefun
·2022-06-03
Wow
Reply
1
Report
Dalex1212
·2022-06-03
Yup
Reply
1
Report
Dalex1212
·2022-06-03
Why always focus on short term situations. In a month or so when the sales monthly hit 12k etc, then u will see buying now is right
Reply
1
Report
3f5af9d3
·2022-06-03
Nio is affected more by Shanghai lock down, but June should be much better
Reply
5
Report
Kennychia
·2022-06-03
Trying to bring down the price?
Reply
1
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1129009856?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-06-03 14:58","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1129009856","market":"us","top_or_hot":-1,"title":"NIO: Cheap For A Reason","media":"Seeking Alpha","content":"<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NIO","symbol_name":"蔚来","start_time":0,"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","article_id":"1129009856","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","pubTimestamp":1654239514,"sourceInfo":null,"weMediaInfo":null,"summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NIO":"蔚来"},"translate_title":"蔚来：便宜是有原因的","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NIO":0.9},"content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9059418050,"gmtCreate":1654406036370,"gmtModify":1676535443849,"author":{"id":"3583049143664216","authorId":"3583049143664216","name":"AuntieAaA","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583049143664216","authorIdStr":"3583049143664216"},"htmlText":"GOOD","listText":"GOOD","text":"GOOD","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9059418050","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9059199083,"gmtCreate":1654308189142,"gmtModify":1676535429070,"author":{"id":"3578824387779755","authorId":"3578824387779755","name":"jeffilim","avatar":"https://community-static.tradeup.com/news/4164807c6fe60e836acb33d42b58c14c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578824387779755","authorIdStr":"3578824387779755"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9059199083","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9059375621,"gmtCreate":1654307355563,"gmtModify":1676535428778,"author":{"id":"3578824387779755","authorId":"3578824387779755","name":"jeffilim","avatar":"https://community-static.tradeup.com/news/4164807c6fe60e836acb33d42b58c14c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578824387779755","authorIdStr":"3578824387779755"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9059375621","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9059005998,"gmtCreate":1654257633214,"gmtModify":1676535420925,"author":{"id":"3582798202671514","authorId":"3582798202671514","name":"MP88","avatar":"https://static.tigerbbs.com/98ab4cdb5a6f628d50eef8b5db5303aa","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582798202671514","authorIdStr":"3582798202671514"},"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9059005998","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050751642,"gmtCreate":1654248427486,"gmtModify":1676535420054,"author":{"id":"3575451164940418","authorId":"3575451164940418","name":"bento","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575451164940418","authorIdStr":"3575451164940418"},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050751642","repostId":1129009856,"repostType":2,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050767785,"gmtCreate":1654245205747,"gmtModify":1676535419644,"author":{"id":"3559435912098366","authorId":"3559435912098366","name":"PekTS","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3559435912098366","authorIdStr":"3559435912098366"},"htmlText":"Okay","listText":"Okay","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050767785","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050767986,"gmtCreate":1654245066945,"gmtModify":1676535419666,"author":{"id":"3572489627147183","authorId":"3572489627147183","name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":4,"crmLevelSwitch":1,"idStr":"3572489627147183","authorIdStr":"3572489627147183"},"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050767986","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050765317,"gmtCreate":1654244694539,"gmtModify":1676535419605,"author":{"id":"4107144801877780","authorId":"4107144801877780","name":".kok","avatar":"https://static.itradeup.com/news/64b20d19e00735785dea272966e7773b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4107144801877780","authorIdStr":"4107144801877780"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050765317","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050762860,"gmtCreate":1654244357650,"gmtModify":1676535419563,"author":{"id":"3554850433778518","authorId":"3554850433778518","name":"庭ST","avatar":"https://static.tigerbbs.com/46ac6463246afbf06e615fbfdc180113","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3554850433778518","authorIdStr":"3554850433778518"},"htmlText":"[Smart]&nbsp;","listText":"[Smart]&nbsp;","text":"[Smart]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050762860","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050768937,"gmtCreate":1654243862329,"gmtModify":1676535419511,"author":{"id":"3574891504712210","authorId":"3574891504712210","name":"Gerardngo","avatar":"https://static.tigerbbs.com/6c41063ae779ed653ae67917a0bf7568","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":3,"crmLevelSwitch":0,"idStr":"3574891504712210","authorIdStr":"3574891504712210"},"htmlText":"Nio is selling premium cars at a higher price point compared to their rivals. Automatically the onesthat are cheaper would get more deliveries.&nbsp;Just because xiaomi sold more phones than the iPhone doesn't mean Xiaomi is a better investment than Apple.&nbsp;Author needs to do a like for like comparison for more credibility. Not saying Nio is the best EV stock out there, but in terms of growth and branding i&nbsp;think they are definitely at a discount right now.They are cheap for a few reasons.1. China stocks FUD (delist/crackdowns)2. Fed rate hike = growth stocks no longer attractive at this point due to higher interest rate in thefuture.&nbsp;3. Tech sector gets affect the worst during the current times. EV is part of tech.&nbsp;4. Supply chain shortage, this is still an ongoing issu","listText":"Nio is selling premium cars at a higher price point compared to their rivals. Automatically the onesthat are cheaper would get more deliveries.&nbsp;Just because xiaomi sold more phones than the iPhone doesn't mean Xiaomi is a better investment than Apple.&nbsp;Author needs to do a like for like comparison for more credibility. Not saying Nio is the best EV stock out there, but in terms of growth and branding i&nbsp;think they are definitely at a discount right now.They are cheap for a few reasons.1. China stocks FUD (delist/crackdowns)2. Fed rate hike = growth stocks no longer attractive at this point due to higher interest rate in thefuture.&nbsp;3. Tech sector gets affect the worst during the current times. EV is part of tech.&nbsp;4. Supply chain shortage, this is still an ongoing issu","text":"Nio is selling premium cars at a higher price point compared to their rivals. Automatically the onesthat are cheaper would get more deliveries. Just because xiaomi sold more phones than the iPhone doesn't mean Xiaomi is a better investment than Apple. Author needs to do a like for like comparison for more credibility. Not saying Nio is the best EV stock out there, but in terms of growth and branding i think they are definitely at a discount right now.They are cheap for a few reasons.1. China stocks FUD (delist/crackdowns)2. Fed rate hike = growth stocks no longer attractive at this point due to higher interest rate in thefuture. 3. Tech sector gets affect the worst during the current times. EV is part of tech. 4. Supply chain shortage, this is still an ongoing issu","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":25,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050768937","repostId":1129009856,"repostType":2,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050761325,"gmtCreate":1654243741567,"gmtModify":1676535419493,"author":{"id":"3572773411123061","authorId":"3572773411123061","name":"JustInvest","avatar":"https://static.tigerbbs.com/2b8fd2d38b4505de724bb28bdb4aa446","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3572773411123061","authorIdStr":"3572773411123061"},"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050761325","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050789480,"gmtCreate":1654240994241,"gmtModify":1676535419057,"author":{"id":"3576140222331577","authorId":"3576140222331577","name":"Guavaxf30","avatar":"https://static.tigerbbs.com/1ff15ff6aa254c9130f9af922f7e2447","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"3576140222331577","authorIdStr":"3576140222331577"},"htmlText":"Sadly I think the author does make some sense. What is so different from last week? Oreven the&nbsp;few months even? Situation is mot quite there yet to buy in.&nbsp;But for the long term holders, just stay vested and turn off our computer. I believe things WILL change in a year or two.","listText":"Sadly I think the author does make some sense. What is so different from last week? Oreven the&nbsp;few months even? Situation is mot quite there yet to buy in.&nbsp;But for the long term holders, just stay vested and turn off our computer. I believe things WILL change in a year or two.","text":"Sadly I think the author does make some sense. What is so different from last week? Oreven the few months even? Situation is mot quite there yet to buy in. But for the long term holders, just stay vested and turn off our computer. I believe things WILL change in a year or two.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050789480","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050780458,"gmtCreate":1654240799374,"gmtModify":1676535419034,"author":{"id":"4112410321254552","authorId":"4112410321254552","name":"blessed_1","avatar":"https://community-static.tradeup.com/news/71622697830d9517eb67a61917d8a95f","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":1,"idStr":"4112410321254552","authorIdStr":"4112410321254552"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050780458","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050715698,"gmtCreate":1654240422614,"gmtModify":1676535418947,"author":{"id":"3569315853669580","authorId":"3569315853669580","name":"Mikalee","avatar":"https://static.tigerbbs.com/2608f17a8c8c1217b6a39e26ca6b8add","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3569315853669580","authorIdStr":"3569315853669580"},"htmlText":"Dun bring down the price by saying all these after this week slight increSe","listText":"Dun bring down the price by saying all these after this week slight increSe","text":"Dun bring down the price by saying all these after this week slight increSe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050715698","repostId":1129009856,"repostType":2,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050715913,"gmtCreate":1654240392532,"gmtModify":1676535418947,"author":{"id":"3579809773434763","authorId":"3579809773434763","name":"SalTheFun","avatar":"https://static.tigerbbs.com/69c72146aa04d3efddd999f936505379","vip":1,"crmLevel":8,"crmLevelSwitch":1,"idStr":"3579809773434763","authorIdStr":"3579809773434763"},"htmlText":"Hold! Whatever is it, most of the stock is below 50% now compare it's peak! Atleast NIO did. Well","listText":"Hold! Whatever is it, most of the stock is below 50% now compare it's peak! Atleast NIO did. Well","text":"Hold! Whatever is it, most of the stock is below 50% now compare it's peak! Atleast NIO did. Well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050715913","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050712621,"gmtCreate":1654240326263,"gmtModify":1676535418924,"author":{"id":"3560825566709184","authorId":"3560825566709184","name":"bluefun","avatar":"https://static.tigerbbs.com/84fe19aaaddc330d697022fc5b1a032d","vip":2,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3560825566709184","authorIdStr":"3560825566709184"},"htmlText":"Wow&nbsp;","listText":"Wow&nbsp;","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050712621","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050716744,"gmtCreate":1654240279988,"gmtModify":1676535418939,"author":{"id":"3585697030979497","authorId":"3585697030979497","name":"Dalex1212","avatar":"https://static.tigerbbs.com/bc5e5de5db287690289de51a25c7cfb0","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"3585697030979497","authorIdStr":"3585697030979497"},"htmlText":"Yup&nbsp;","listText":"Yup&nbsp;","text":"Yup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050716744","repostId":1129009856,"repostType":2,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050716481,"gmtCreate":1654240270343,"gmtModify":1676535418917,"author":{"id":"3585697030979497","authorId":"3585697030979497","name":"Dalex1212","avatar":"https://static.tigerbbs.com/bc5e5de5db287690289de51a25c7cfb0","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"3585697030979497","authorIdStr":"3585697030979497"},"htmlText":"Why always focus on short term situations. In a month or so when the sales monthly hit 12k etc, then u will see buying now is right","listText":"Why always focus on short term situations. In a month or so when the sales monthly hit 12k etc, then u will see buying now is right","text":"Why always focus on short term situations. In a month or so when the sales monthly hit 12k etc, then u will see buying now is right","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050716481","repostId":1129009856,"repostType":2,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050716152,"gmtCreate":1654240206276,"gmtModify":1676535418903,"author":{"id":"4109637959427770","authorId":"4109637959427770","name":"3f5af9d3","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"4109637959427770","authorIdStr":"4109637959427770"},"htmlText":"Nio is affected more by Shanghai lock down, but June should be much better","listText":"Nio is affected more by Shanghai lock down, but June should be much better","text":"Nio is affected more by Shanghai lock down, but June should be much better","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050716152","repostId":1129009856,"repostType":2,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9050716998,"gmtCreate":1654240113014,"gmtModify":1676535418902,"author":{"id":"3581092090869443","authorId":"3581092090869443","name":"Kennychia","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3581092090869443","authorIdStr":"3581092090869443"},"htmlText":"Trying to bring down the price?","listText":"Trying to bring down the price?","text":"Trying to bring down the price?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050716998","repostId":1129009856,"repostType":4,"repost":{"id":"1129009856","pubTimestamp":1654239514,"share":"https://ttm.financial/m/news/1129009856?lang=&edition=fundamental","pubTime":"2022-06-03 14:58","market":"us","language":"en","title":"NIO: Cheap For A Reason","url":"https://stock-news.laohu8.com/highlight/detail?id=1129009856","media":"Seeking Alpha","summary":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery g","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>NIO’s delivery growth continued to decelerate in May.</li><li>While no longer negative, the delivery growth rate was just 4.7%, a disappointment.</li><li>Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.</li></ul><p>With NIO (NYSE:NIO)&#39;s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO&#39;s delivery results for May also presented further proof that the firm&#39;s rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO&#39;s delivery possibilities as my standing prediction of140 thousand units is no longer feasible!</p><p><b>Delivery growth continued to slow in May</b></p><p>After NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO&#39;s delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO&#39;s rivals executed once again much better than NIO and displayed much stronger delivery growth.</p><p>NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company&#39;s new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO&#39;s ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.</p><p>NIO&#39;s ES6 is NIO&#39;s best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO&#39;s sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company&#39;s ET5 product launch later this year potentially accelerating this shift.</p><p><b>NIO&#39;s delivery card for May compared against rivals</b></p><p>NIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.</p><p>XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.</p><p>NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO&#39;s May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.</p><p><img src=\"https://static.tigerbbs.com/76f822e940b97a7dc35bf1be2ec5ee01\" tg-width=\"618\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><b>Lowering production and delivery outlook for FY 2022 (again)</b></p><p>Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO&#39;s delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.</p><p>My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO&#39;s delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.</p><p>Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.</p><p><b>Risks to refreshed FY 2022 delivery guidance</b></p><p>NIO doesn&#39;t give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer&#39;s control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2&#39;22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO&#39;s shares in 2022.</p><p><b>Cheap for a reason</b></p><p>NIO&#39;s shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO&#39;s short term delivery prospects. Other factors may also impact NIO&#39;s pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO&#39;s Q2&#39;22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.</p><p><img src=\"https://static.tigerbbs.com/71f9c7987b5b5068d03b545dd983dec4\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Cheap For A Reason</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Cheap For A Reason\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-03 14:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my...</p>\n\n<a href=\"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4516018-nio-cheap-for-a-reason","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129009856","content_text":"SummaryNIO’s delivery growth continued to decelerate in May.While no longer negative, the delivery growth rate was just 4.7%, a disappointment.Due to continual supply chain problems, I am adjusting my prediction for NIO’s FY 2022 delivery possibilities.With NIO (NYSE:NIO)'s delivery growth continuing to decelerate in May, shares of the electric vehicle company are going to have a harder time defending recent recovery gains. Although ET7 deliveries ramped up nicely inMay and ES6 production also rebounded, NIO's delivery results for May also presented further proof that the firm's rivals in the Chinese electric vehicle industry are executing better than NIO. I am also adjusting, for the second time, my outlook for NIO's delivery possibilities as my standing prediction of140 thousand units is no longer feasible!Delivery growth continued to slow in MayAfter NIO reported a 28.6% decline in its year over year delivery growth rate in April, NIO's delivery card for the month of May was better, but not by much. While delivery growth was positive, NIO's rivals executed once again much better than NIO and displayed much stronger delivery growth.NIOdelivered7,024 electric vehicles in May, showing just 4.7% year over year growth. NIO delivered 2,936 ES6s, 1,635 EC6s and 746 ES8s, all of which are sport utility vehicles. Additionally, NIO delivered 1,707 ET7s, the company's new sedan model for which deliveries started only in March. In April, NIO delivered 1,878 ES6s and 693 ET7s, meaning delivery rates have ramped up 56.3% and 146.3% month over month. NIO's ET7 sedan deliveries now already exceed those of the EC6 which has seen deliveries commence in September 2020.NIO's ES6 is NIO's best-selling electric vehicle product and it has been responsible for 40% of deliveries lately. Because NIO has now moved into the sedan market with its flagship ET7 electric vehicle and customer demand is strong, I expect sedan sales to account for an increasingly large revenue share going forward. Based on May delivery volumes, NIO's sedans accounted for a delivery share of 24.3% which is impressive considering that NIO started sedan deliveries only a little more than two months ago. The sedan share of deliveries was just 13.7% in April. Longer term, I see NIO growing its delivery share of sedan models to 40-50%, with the company's ET5 product launch later this year potentially accelerating this shift.NIO's delivery card for May compared against rivalsNIO being outclassed by its rivals regarding delivery growth is a concerning problem and it could potentially result in shares of NIO underperforming its rivals going forward. Investors tend to purchase shares of those electric vehicle companies with the most attractive short term delivery prospects, and like I argued about a month ago, these companies are now XPeng (XPEV) and Li Auto (LI), but not NIO.XPeng was the only electric vehicle company of the Top Three -- NIO, XPeng and Li Auto -- that had positive delivery growth in April while NIO and Li Auto saw their delivery growth rates go negative. In May, this picture improved, but chiefly for XPeng and Li Auto. While XPeng once again delivered impressive year over year delivery growth of 78.0% in May, Li Auto saw its deliveries soar 165.9% due to decreased production constraints.NIO, unfortunately, delivered only about two thousand electric vehicles more than in the previous month, which calculates to a depressingly low delivery growth rate of 4.7% year over year. With the exception of Li Auto, XPeng and NIO's May deliveries were below those of March, the month in which production roared back after Chinese holidays earlier this year.Lowering production and delivery outlook for FY 2022 (again)Calculating delivery estimates for companies like NIO which go through a volatile production ramp of different models at the same time is not an easy task. Just last month, I lowered my estimate for NIO's delivery possibilities in FY 2022 due to COVID-19 factory lockdowns that limited the availability of automotive parts and forced manufacturers to curtail production.My previous estimate called for 140 thousand electric vehicle deliveries. Given the worrisome slowdown in NIO's delivery growth in May, there is no way the electric vehicle company can achieve anything near 140 thousand in deliveries. NIO delivered just 37,866 electric vehicles year to date which calculates to a 27% share of my previous FY 2022 delivery target.Even when making generous assumptions about the current ET7 ramp and the estimated ET5 production start in September 2022, the April and May delivery cards have shown that NIO will likely deliver materially less than 140 thousand EVs this year. Due to continual supply chain issues and part shortages that are more severe than initially expected, I now expect NIO to deliver only 115-120 thousand electric vehicles, implying a 14-18% decline compared to my previous prediction.Risks to refreshed FY 2022 delivery guidanceNIO doesn't give delivery guidance for the full year, and there are a lot of good reasons for that. Many variables affect delivery ramps that are outside of a manufacturer's control, so any guidance that goes just beyond the next quarter represents an unwarranted risk and subjects the stock to volatility. NIO will submit its first-quarter earnings card next week and delivery estimates for Q2'22 are likely to be weak. An additional delivery slowdown or problems with the sedan ramps could further hold back NIO's shares in 2022.Cheap for a reasonNIO's shares are now trading at a much lower sales multiplier factor than last year and the reason is likely the massive change in NIO's short term delivery prospects. Other factors may also impact NIO's pricing, such as surging consumer prices and the conflict in Europe. Given a deteriorating delivery outlook, I believe shares of NIO will have a hard time moving higher, especially if NIO's Q2'22 delivery guidance disappoints next week. NIO, with a P-S ratio of 1.9 X, is now about as cheap as XPeng and Li Auto.Data by YCharts","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":357,"commentSize":32,"repostSize":0,"favoriteSize":3,"likeStatus":false,"favoriteStatus":false}}