NIO's Electrifying August: Vehicle Deliveries Jump 81% To 19,329 Vehicles
Portfolio Pulse from Nabaparna Bhattacharya
NIO Inc. reported an 81% YoY increase in vehicle deliveries for August 2023, totaling 19,329 vehicles. However, the company's Q2 revenue was down 14.8% YoY, with vehicle deliveries and revenue also declining. NIO expects Q3 deliveries to increase by 74%-80.3% YoY. The company's shares are trading 7.21% higher.
September 01, 2023 | 2:02 pm
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NIO's August vehicle deliveries increased significantly, but Q2 results were disappointing. The company expects a strong Q3 in terms of deliveries. NIO's stock is currently up by 7.21%.
The news of increased August deliveries and expected Q3 growth is positive for NIO, which could explain the rise in the company's stock. However, the disappointing Q2 results might temper some investor enthusiasm.
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