Nio Inc. Reports Significant Increase in Deliveries, Driving Stock Growth

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Shares of Nio Inc. continued their upward trend, marking a fifth-straight gain, after the China-based electric-vehicle manufacturer announced a substantial jump in deliveries for both September and the third quarter. This surge comes as Nio launches its new EC6 coupe SUV.

Nio delivered an impressive total of 15,641 vehicles in September, reflecting a remarkable year-over-year increase of 43.8%. The deliveries included 11,504 smart electric sport-utility vehicles and 4,137 sedans. Furthermore, their third-quarter performance showed an outstanding 75.4% increase in EV deliveries compared to the previous year, with a total of 55,432 vehicles delivered.

The company started delivering the highly anticipated EC6 smart electric coupe SUV on September 15th.

Nio’s stock has experienced a resurgence, climbing 10% over the past four sessions following a temporary dip in late September. Despite a 6.7% decline over the past three months, Nio remains optimistic about its future prospects.

In addition to Nio, fellow EV makers Li Auto Inc. and XPeng Inc. also reported substantial increases in deliveries. Li Auto reported a record-breaking 212.7% year-over-year increase in September deliveries, and a nearly four-fold increase (296.3%) in deliveries for the third quarter. Notably, Li Auto became China’s first new-energy automaker to reach the milestone of delivering 500,000 vehicles.

XPeng also experienced significant growth, with September deliveries up by 81% compared to the previous year. Their third-quarter deliveries increased by 72%, largely attributed to the significant expansion of production capacity for the G6 model.

Separately, BYD Co. reported noteworthy delivery numbers for September. The company witnessed a 50% increase in battery-electric vehicle deliveries compared to the previous year, with 144,179 vehicles delivered. Additionally, plug-in hybrid vehicle deliveries increased by 30%, totaling 135,118 vehicles.

As Nio, Li Auto, XPeng, and BYD continue to deliver impressive results, the electric-vehicle market in China displays a promising future.

Nio’s stock (NIO) rose 0.8% in premarket trading following the delivery report.

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