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Investing.com-- NIO Inc (HK:9866) shares dropped sharply on Tuesday after the company reported a 16% month-on-month decline in vehicle deliveries for July, signaling a slowdown in momentum for the Chinese electric vehicle maker.
NIO delivered 21,017 vehicles in July, down from 24,925 in June, though still up 2.5% from July 2024, according to a company update published Friday.
Hong Kong-listed shares of the company fell as much as 7.6% to HK$35.3 as of 03:46 GMT.
U.S.-listed NIO stock closed 8.2% lower on Monday.
The fall in volume, particularly in deliveries from the main NIO brand and its newer sub-brands Onvo and Firefly, raised concerns over demand ahead of major product launches.
Onvo began deliveries of its L90 SUV on August 1, aiming to bolster the company’s summer sales.