Nio Posts Record Monthly-Deliveries In June As High Demand Overshadows Chip Shortage, Sees 116% Surge

Chinese electric vehicle maker Nio Inc NIO said on Thursday deliveries more than doubled in June on a year-on-year basis, and climbed back sharply sequentially despite the ongoing global semiconductor chip shortage. 

What Happened: The Shanghai-headquartered EV maker delivered 8,083 vehicles in June, up about 116% when compared with year-ago numbers, and also reported a 20.4% jump from May, when sales were hurt due to the volatile chip supplies.

This is the highest number of monthly deliveries posted by Nio ever.

Total deliveries for the second quarter came in at 21,896, a jump of 111.9% year-over-year.

See also: Nio's May Deliveries Slip Sequentially Amid Volatile Chip Supply

June marks the first month of rise in deliveries for Nio after four straight months of declines.

The company delivered 5,578 electric vehicles in February followed by 7,257, 7,102, and 6,711 deliveries in March, April and May.

The split for June was 1,498 six-seater and seven-seater ES8 SUV, 3,755 five-seater ES6s and 2,830 five-seater EC6 coupe models.

The company has cumulatively delivered 21,896 vehicles in the second quarter of June.

Nio is first among a host of other electric vehicle rivals to report the monthly delivery numbers, that include BYD Co Ltd’s BYDDF, Li Auto Inc LI, Xpeng Inc XPEV and Tesla Inc TSLA

Why It Matters: Nio’s sales last month were adversely hurt for several days due to the volatile semiconductor supply and certain logistical adjustments. The U.S.-listed Chinese electric vehicle maker was forced to halt production at its Hefei manufacturing plant for five working days starting March 29.

The company however maintained it plans to accelerate the delivery in June to make up for the delays from May and reiterated the delivery guidance of 21,000 to 22,000 vehicles in the second quarter of 2021.

Price Action: Nio shares closed 5.66% higher at $53.20 on Wednesday.

Read Next: Nio Stock Extends Rally: What's Going On?

Click here to check out Benzinga's EV Hub for the latest electric vehicles news.

Photo: Courtesy of Nio

 

Posted In: NewsRetail SalesChinaelectric vehiclesEVs
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