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Nio October Deliveries Jump 25.1%, Despite Holiday Impact

Nio October Deliveries Jump 25.1%, Despite Holiday Impact

Nio Inc – ADR (NYSE: NIO) shares, which came under significant selling pressure last week in the wake of the resignation of the company's CFO, were rebounding strongly Monday.

The Chinese electric vehicle maker said in a Monday release it delivered 2,526 vehicles in October, representing a 25.1% increase from the 2,019 vehicles delivered in September.

The strong October statistics came despite the weeklong National Day holiday at the start of the month, Nio said. 

October deliveries were as follows: 2,220 of the ES6 model, which was launched June 18, and 306 ES8 vehicles. As of Oct. 31, the company has sold 26,215 vehicles on an aggregate basis, with 14,867 of these delivered in 2019.

See Also: Nio To Eliminate 21% Of Global Workforce As Q2 Loss Widens, August Deliveries Miss Mark

"We appreciate the support from our users and believe in the power of word of mouth as our vehicles and services continuously evolve and optimize," William Li, founder, chairman and CEO of Nio, said in a statement. "Meanwhile, we will continue rolling out NIO Spaces and expanding our sales network to support our future growth."

The traction Nio has gained in the past two months followed a weak second quarter, when it reported disappointing deliveries, hurt by brittle macro fundamentals, and a wider-than-expected loss.

Nio shares were rallying 14.8% to $1.74 at the time of publication. 

Photo courtesy of Nio. 


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