Nio, one of the fast-growing and promising electric vehicle makers from China has recently posted its EV sales for the month of June. The EV sales report was shared by Nio on Friday.
For the month of June, Nio has reported that it has successfully delivered almost 13,000 vehicles. The company has revealed that compared to the past year, it sold 60% more vehicles in June.
According to market analysts, the Chinese industry has started to recover after the pandemic. As the impact of the pandemic is fading away, the sales and revenues for China-based companies have started experiencing rebounds.
In recent months, the disruptions caused due to the pandemic, have started recovering and the situation is now becoming normal.
Nio Reports its June EV Sales
For the month of June, Nio has reported that it has sold a total of 12,961 vehicles. The company has reported that ever since it started selling electric vehicles back in 2018, this is for the first time Nio has achieved these many sales.
It is promising for Nio as it has achieved almost 13,000 sales in a single month and it is hoping to increase the number in the future months.
Rivals Performed Even Better
Although Nio did manage to set a new record for itself, it wasn’t enough to win against its competitors. The China EV market has revealed that in the same month, Li Auto achieved 13,024 EV delivers. It has reportedly delivered 69% more vehicles than it did in June 2021.
As for XPeng Motors, it delivered a total of 15,295 EVs in the month of June. The achieved figure is 133% more than what it had achieved in the month of June in 2021.
All Companies Faced Disruptions in General
As all three companies are based in China, they ended up facing disruptions in their productions that occurred intermittently.
Compared to the rest, Nio was hit the hardest by the pandemic. The reason behind the stronger impact was its Hefei factories in Shanghai that were closed due to the pandemic lockdowns.
In December of 2021, it was for the first time Nio has been able to deliver more than 10,000 vehicles.
For now, Nio has not provided many details about what kind of efforts it made in order to achieve its target of higher sales.
The EV maker has announced that it will be delivering its new versions of SUVs in August. These SUVs include EC6, ES6, and ES8. Despite posting promising results, the share prices of Nio have experienced a 1.66% dip.
It is expected that in the upcoming days, the stock trading market may start moving in favor of Nio, showing positive results.
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