NIO Shares Pop On 174% Increase In October Vehicle Delivery

Smart electric vehicle manufacturer NIO Inc NIO delivered 10,059 vehicles in October 2022, representing an increase of 174.3% year-over-year.
The deliveries consisted of 5,979 premium smart electric SUVs, including 2,814 ES7s, and 4,080 premium smart electric sedans including 3,050 ET7s and 1,030 ET5s.
The company delivered 92,493 vehicles year-to-date 2022, increasing by 32.0% year-over-year.
Cumulative deliveries of NIO vehicles reached 259,563 as of October 31, 2022.
The vehicle production and delivery were constrained by operation challenges in its plants and supply chain volatilities due to the COVID-19 situation in certain regions in China.
In October, NIO unveiled ET7, EL7 and ET5 for the European markets at the NIO Berlin 2022.
Price Action: NIO shares are trading higher by 7.14% at $10.36 in premarket on the last check Tuesday.
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