Niu Technologies Clocks 58% Growth In Q3 E-Scooter Sales

  • Niu Technologies NIU has reported a 58.3% growth year-on-year in e-scooter sales to 397,079 in the third quarter of FY2021.
  • The company sold 392,112 units in China market, representing a 59.9% increase Y/Y.
  • The growth in China market was mainly driven by retail network expansion and promotion activities.
  • The number of e-scooters sold in the international markets declined 11.2% Y/Y to 4,967 due to the resurgence of COVID-19 in Europe and difficulties in ocean freight shipping.
  • Out of the total sales volume, G0, F0, and C0 models constituted about 40.6%. 
  • Price Action: NIU shares closed lower by 0.32% at $25.13 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!