Nio Stock Is Sliding: What's Going On?
Portfolio Pulse from Adam Eckert
NIO Inc's shares are trading lower due to strong sales numbers from its China-based EV competitor, BYD Co Ltd. BYD delivered 286,903 vehicles in September, a 40% YoY increase, while Nio delivered 15,641 vehicles. BYD also expects a surge in net income this quarter due to record sales. Nio lost about $35,000 per vehicle last quarter as it continues to invest in R&D.
October 18, 2023 | 4:14 pm
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POSITIVE IMPACT
BYD's stock is likely to benefit from strong sales and expected surge in net income.
BYD's robust sales and expected surge in net income, along with its resilience in the face of price wars among EV makers, are likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nio's stock is under pressure due to strong competition from BYD, which is showing robust sales and growth.
Nio's lower sales compared to BYD and its losses per vehicle due to investment in R&D are likely to negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100