Nio Stock Is Sliding Monday: What's Going On?
Portfolio Pulse from Adam Eckert
NIO Inc's shares are trading lower due to strong sales numbers from China-based EV competitors. The China Passenger Car Association data shows that BYD Co, backed by Warren Buffett, is the biggest player in China, delivering 286,903 vehicles in September, up 40% YoY. Nio delivered 15,641 vehicles in September, with Q3 deliveries totaling 55,432. Nio lost about $35,000 per vehicle last quarter as it continues to invest in R&D. Nio shares are down about 16% since the start of the year.
October 09, 2023 | 5:35 pm
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NEGATIVE IMPACT
NIO's shares are trading lower due to strong sales numbers from its competitors. The company delivered 15,641 vehicles in September, with Q3 deliveries totaling 55,432. Nio lost about $35,000 per vehicle last quarter as it continues to invest in R&D.
NIO's stock is trading lower due to strong competition from other China-based EV makers, particularly BYD Co. Despite similar growth rates, NIO's total deliveries are significantly lower than BYD's. Additionally, NIO's per vehicle loss last quarter indicates financial strain, which could negatively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla's China EV sales were down last month on a YoY basis, according to data from the China Passenger Car Association.
Tesla's lower sales in China last month could negatively impact its stock. As China is a significant market for EVs, a decrease in sales there could be a concern for investors and potentially lead to a decrease in Tesla's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
BYD Co, backed by Warren Buffett, is the biggest player in China's EV market, delivering 286,903 vehicles in September, up 40% YoY. This strong performance is putting pressure on competitors like NIO.
BYD Co's strong sales numbers and leading position in the Chinese EV market are likely to positively impact its stock. The company's significant growth and high delivery numbers indicate a strong market presence and competitive advantage, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80