NIO Shares Gain As June Deliveries Jump By Over 60% Y/Y Reflecting Recovery

NIO Inc NIO reported its June and second quarter 2022 delivery results. NIO delivered 12,961 vehicles in June 2022 (vs. 7,024 vehicles in May 2022), up 84.5% month-over-month, and 60.3% year-on-year. 

The June deliveries consisted of 8,612 premium smart electric SUVs, including 1,684 ES8s, 5,100 ES6s and 1,828 EC6s, and 4,349 ET7s, its flagship premium smart electric sedan. 

Also Read: Warren Buffett-Backed EV Maker Ranked Amongst Top 3 Automakers in China Beating Tesla, Nio, Xpeng

NIO delivered 25,059 vehicles in Q2 2022, up 14.4% Y/Y. The cumulative deliveries of NIO vehicles reached 217,897 as of June 30.

On June 15, NIO launched the mid-large five-seater smart electric SUV ES7, the first SUV product based on NIO Technology 2.0 (NT2.0).

NIO also launched the 2022 ES8, ES6, and EC6 with the upgraded digital cockpit domain controller and sensing suite. NIO will start delivering the ES7 and the 2022 ES8, ES6, and EC6 in August 2022.

NIO's June numbers reflect China's gradual recovery from the COVID-19 outbreak. NIO previously shared plans to ramp up the production capacity further and accelerate the delivery recovery starting from June, in light of the recent supportive developments in the COVID-19 situation and the strong order inflow.

Price Action: NIO shares traded higher by 2.44% at $22.25 in the premarket on the last check Friday.

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