NIO News
> Nio outsold Xpeng in October while edging past Li Auto. All three Chinese EV startups saw m-o-m sales declines, despite launching several new models in recent months.
With three new EV models, Nio previously said it expects record deliveries in every month of the current 4th quarter but October results show it missed that goal.
• Nio delivered 10,059 electric vehicles in October, down 7.5% m-o-m vs 10,878 in September, but up 174% y-o-y. In comparison, XPeng sold 5,101 EVs and Li Auto sold 10,052 vehicles in October.
• Nio's deliveries comprised 5,979 SUVs (including 2,814 new ES7s), and 4,080 sedans (including 3,050 new ET7s and 1,030 ET5s). The tally also included leases in Europe, where Nio began a lease-only program last month.
• Year to date, Nio's EV deliveries are up 32% vs 2021. For Jul - Sep Q3, Nio delivered a record 31,607 EVs.
p.s. Nio (9866.HK) said on Wednesday it has suspended production due to COVID-19 curbs as rising cases across the country cause more disruptions to business activity. Nio had begun to face production challenges in mid-October due to virus prevention measures that eventually led to both of its factories in the central city of Hefei stopping work.
(Nio will report Q3 financials on Nov 10 before the U.S. market opens)
Modify on 2022-11-02 13:51
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