NIO's Electrifying August: Vehicle Deliveries Jump 81% To 19,329 Vehicles

NIO Inc. NIO delivered 19,329 vehicles in August 2023, increasing by 81% year-over-year.

The deliveries consisted of 12,015 premium smart electric SUVs, and 7,314 premium smart electric sedans. 

Cumulative deliveries of NIO vehicles reached 383,908 as of August 31, 2023.

The Shanghai, China-based company recently reported second-quarter revenue of 8.77 billion yuan ($1.21 billion), down 14.8% year-over-year.

Vehicle deliveries fell to 23,520 units in the second quarter of 2023, down from 25,059 units in the second quarter of 2022 and 31,041 units in the first quarter of 2023. Consequently, vehicle revenue declined 24.9% year-over-year and 22.1% quarter-over-quarter.

The company was recently in the headlines for launching its debut phone in September. 

NIO expects deliveries of 55,000 to 57,000 units for the third quarter, up 74%-80.3% from the year-ago quarter. 

Price Action: NIO shares are trading higher by 7.21% to $11.01 on the last check Friday.

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