Chinese electric vehicle maker, Nio Inc. (NYSE:NIO) released their October sales report Wednesday, reportedly delivering 16,074 vehicles in the month. A 3% increase compared to last month and a 59.8% increase when compared to October of last year. The deliveries consisted of 11,086 premium smart electric SUVs, and 4,988 premium smart electric sedans.
In the previous month, the combined sales of SUVs (ES6+ES7+ES8+EC6) experienced a 4% month-on-month decline, totaling 11,086 units. Sedan sales, however, despite the overall industry weakness, demonstrated a notable 21% month-on-month growth, reaching approximately 5,000 units.
Looking ahead to the company's 4Q, analysts at Morgan Stanley expect NIO to provide conservative guidance, projecting a sequential decline in vehicle volumes to the range of 49k to 51k units. This projection reflects a more moderate order intake in recent months, indicating a commitment to maintaining sound pricing discipline.
Shares of NIO are up 0.39% in mid-day trading on Wednesday.