NIO Q1 2023 Delivery : 31,041 EVs. +25.46% YoY. Time To Invest ?
NIO Inc. Confirmed its Unaudited March and First Quarter 2023 Delivery
NIO delivered 10,378 EVs in Mar 2023
NIO delivered 31,041 EVs in the three months ended Mar 2023, increasing by +20.5% year-over-year
Cumulative deliveries of NIO vehicles reached 320,597 as of 31 Mar 2023
NIO - 2023 EVs Delivery - Jan, Feb, Mar
More details and Breakdowns : (refer to above diagram)
NIO delivered 10,378 vehicles in Mar 2023 vs 9,985 (2022). This is +3.94% comparatively speaking.
In terms of EV types breakdown - its 3,203 SUVs and 7,175 Sedans.
No further breakdown is currently available for the different SUVs and Sedans models.
NIO Q1 2023 Delivery
During Q4 2022 earnings reporting conference, CEO Mr Li Bin has anticipated NIO’s Q1 2023 delivery to be between 31,000 and 33,000 EVs.
With an unaudited delivery of 31,041 EVs this represents the lower end of its guidance range.
Nevertheless, it managed to produce within guidance range.
NIO Q1 2023 Revenue
NIO's guidance for Q1 2023 Revenue was between RMB 10.93 Billion and RMB 11.54 Billion.
In US dollars, this works out to be between $1.53 Billion and $1.68 Billion.
I cannot wait for the “actual / audited” revenue to be reported in due course.
What’s In Store For NIO From Q2 2023 ?
New EC7, NIO’s state-of-the-art coupé SUV is on scheduled for delivery in May 2023.
New ES8 : Refine Prime, NIO’s flagship SUV has been refined & re-engineered and to be re-experienced all over again in Jun 2023.
NIO has begun to deliver its ET5 (best selling sedan) in Germany.
NIO’s preparation to enter the UK is “in progress”. Rreal estate team has been deployed to look at possible sites for Power swap station (PSS) installations.
My Viewpoint :
For its Q1 2023 quarterly earnings, hopefully NIO is able to show that it manages to rein in losses when compared against Q1 2022’s -US$260 Million
If NIO is able to present high level sales of its EVs in Europe as well it would be a wonderful surprise.
With only 2 public holidays in China for Apr 2023 (1. Qingming festival and 2. Labour Day); unlike the 10 days of Lunar New Year celebration in Jan 2023, it is hope that NIO will be able to ramp up EV output and supersede EV delivery again.
Do you think NIO has put up a credible Q1 2023 delivery performance ?
Do you think NIO will be able to match or better its Apr 2021 output of 7,000 (approx) EVs ?
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