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. While the pandemic helped put a number of other startups in danger of going out of business around the world — including some seen as potential frontrunners, Nio currently sells two electric vehicles: the ES6, a smaller SUV that starts at around $52,000, and the revamped version of the ES8, a larger SUV that starts at around $67,000. What happened. Tesla’s recently opened Shanghai Gigafactory has helped the Silicon Valley automaker Nio tried to strike out on its own as an independent startup and had a good head start on many of its current peers. See NIO Inc. (NIO) stock analyst estimates, including earnings and revenue, EPS, upgrades and downgrades.

A second model called ES6 was launched in 2019. NIO Inc. Reports First Quarter 2020 Financial Results 83 KB. In general, people who are confused postpone buying decisions until things get clearer, and that’s exactly what Chinese new car shoppers did. Q2. InsideEVs: Brasil Apr 02, 2019. That changed a bit in the second quarter of 2020, as Nio shipped 2,907 ES6 SUVs in April, 2,685 in May, and 2,476 in June.

NIO Inc. Second Quarter 2019 Earnings Results 88.6 KB.

InsideEVs: USA / Global 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. We truly appreciate the trust and support that NIO users have been giving us and we remain fully committed to the vision of building the best user enterprise by offering high-quality premium smart electric vehicles in the years to come.
Our deliveries in the second quarter of 2020 exceeded the high end of our earlier projection, and we are confident that our goals on gross margin and operational efficiency will be achieved.” But the revamped version — which started shipping in April and features improvements to the interior as well as the SUV’s range and performance — boosted ES8 deliveries from just 36 in February and 54 in March to 248, 751, and 1,264 in April, May, and June, respectively. Q1.

After struggling mightily in 2019 and then dealing with COVID-19-related shutdowns, Nio’s sales have rebounded in a big way. But it burned through billions of dollars along the way and wound up in a bad place before the pandemic. The second factor, of course, was production shutdowns caused by the coronavirus pandemic. The brand started sales before having its own production facility, as the ES8 is produced in factories of JAC. Buoyed by a return to strong automotive sales in China, a successful rollout of the updated version of its first electric SUV, and a recent $1 billion investment from local government entities, the startup now appears to be on its most solid footing since late 2018.Nio, which is backed by Tencent, has found that footing at a pivotal moment.
Nio also shipped 2,610 ES6 SUVs in July, the first month of Q3, so they’re back on the rise. GlobeNewswire. William Bin Li, founder, chairman, and chief executive officer of NIO said:“In June, we achieved a historical high of monthly deliveries, contributing to our best quarterly performance.