NIO Beats Its Own Guidance After Sales Surged in June With nearly $1 billion in new cash, NIO appears to be on a roll. Car sales statistics for the Nio ES8 and any other auto model in China from 2003 to 2017 by year and 2014 to 2018 by month. The Chinese new car market has been topsy turvy lately, primarily because the government keeps playing around with its NEV (new energy vehicle) incentive program. The group delivered 3,740 vehicles in June, which was a … Slow and steady may very well be the key to NIO’s future sales growth.CleanTechnica is the #1 cleantech-focused news & analysis website in the US & the world, focusing primarily on electric cars, solar energy, wind energy, & energy storage.The content produced by this site is for entertainment purposes only. ]In a statement, William Bin Li, founder and CEO of NIO, said: “In May, we achieved record-high monthly deliveries in our history. [Note: the ES8 has been substantially redesigned since it was introduced. According to a [Note: the ES8 has been substantially redesigned since it was introduced. Where NIO is bragging about moving 3,436 cars in May, NIO has struggled lately but seems set to survive the turbulence in the Chinese EV market. May sales were down 31% … Sales of general passenger car from manufacturers to dealerships fell 40.4% year-on-year to around 1 million units last month, a quick recovery from an 82% nosedive in February. “We are proud of our team for their strong execution from production to delivery. China really, really wants people to buy electric cars — either plug-in hybrids or battery electrics — but found its original incentive program was costing too much money.So it modified the program, several times in fact, which caused confusion among car companies and customers. NIO delivered 10,331 vehicles in the second quarter of 2020, representing an increase of 190.8% year-over-year and an increase of 169.2% quarter-over-quarter. In general, people who are confused postpone buying decisions until things get clearer, and that’s exactly what Chinese new car shoppers did. We are proud of our teams for their continuous efforts and determination in delivering the solid results, and we will further increase our production capacity and expand our sales network to support our future growth.”Steven Feng, CFO of NIO, added, “We are pleased to see the strong monthly deliveries despite fewer working days due to the public holiday in May.

We expect to achieve the delivery goal for the second quarter 2020, while continuously improving gross margin and narrowing operating loss.”Despite a positive sales report for NIO, Tesla continues to far outsell any other electric car company in China.

So far in 2020, NIO has sold 10,429 cars, up 68% from the same period last year. John Rosevear (TMFMarlowe) Jul 2, 2020 …
May sales were down 31% from a year ago but were virtually nil for many months, so NIO is hoping the larger model will find more customers in coming months. It has a new product coming soon, its EC6 midsize crossover/coupe, which will be priced below the ES6 and hopefully boost the company’s total sales.CleanTechnica is the #1 cleantech-focused news & analysis website in the US & the world, focusing primarily on electric cars, solar energy, wind energy, & energy storage.The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.

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