Categories AlphaGraphs, Analysis, Consumer

Nio ES8 deliveries fall for the second consecutive month in May

Chinese premium electric car-maker Nio (NYSE: NIO) delivered 1,089 units of its seven-seater flagship SUV ES8 in May, marking the second consecutive month of decline. In April and March, the company had delivered 1,124 and 1,373 units respectively.

nio vs tesla deliveries

The company had earlier warned of weakness running into the current quarter due to a greater-than-anticipated slowdown in monthly deliveries, driven by a cut down of EV subsidy and slow macro-economic conditions in China caused by the trade war with the US. A muted Chinese automobile market added to the slowdown in the deliveries.

READ: Here’s why Nio might not be a good investment at the moment

In the first two months of the quarter, the company has delivered a total of 2,213 vehicles. Hence it may be safely assumed that the company is on track to meet its delivery guidance for the second quarter, which was set in a range of 2,800 and 3,200 units. It may be noted that this outlook incorporates the planned deliveries of several hundred ES6s in June 2019.

ES8 monthly deliveries
nio cumulative es8 deliveries

Taking into account the May figures, the Shanghai-based firm has so far reported 17,550 cumulative units of ES8 deliveries.

Nio founder and CEO William Li said, “With April and May deliveries completed, we now anticipate full second quarter ES8 deliveries to be near the top of, or to exceed, the Company’s prior guidance range of 2,800 to 3,200 quarterly deliveries.  We are also pleased that ES6, our 5-seater, sporty high-performance premium electric SUV, is on schedule to commence deliveries to users later this month.”

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Lyft (LYFT) expects average ride volumes to improve through Q1 2021

Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of

With new strategy in place, Target looks poised to tap growing online demand

Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered

Infographic: Dollar Tree’s (DLTR) performance in Q4

Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top