The drop in NIO stock yesterday might be a good reason to buy them back as the company published a positive car sales report in August of 2020.
In August of 2020, NIO shipped 3,965 cars, which is a solid annual increase of 104.1%. The deliveries consisted of 2,840 ES6, a luxury compact smart electric SUV with a 5-seater high-performance and 1,125 ES8, a smart electric SUV with a six-seat and a 7-seater flagship.
The ES8 and ES6 combined shipments reached 53,580 cars, 21,667 of which were supplied by 2020, as of August, 31, 2020.
In August, we achieved our best-ever monthly performance on both deliveries and order growth William Bin Li, a founder, a chairman, and a CEO of NIO
Management expects monthly capacity to reach 5,000 units in September, which will affect other NIO products as well. This figure will support future deliveries of electric vehicles.
With the completion of our recently announced ADS offering, NIO has increased investment and optimized our resources to help position for the growth of key technology, particularly Autonomous drive, and for the potential globalization of the global economy.
Let us recall that yesterday shares of electric car manufacturers fell sharply. If Tesla and Nikola had reasons for this, the NIO only followed the general trend.