NIO October deliveries down 28% amid decline in production volume and supply chain volatilities
NIO delivered 3,667 vehicles in October 2021, down 27.5% Y/Y. The vehicle delivery in October was significantly impacted by reduction in production volume as a result of the restructuring and upgrades of manufacturing lines and the preparation of new products introduction from September 28 to October 15, as well as certain supply chain volatilities.
Despite the production and supply chain challenges, the Company’s new order reached another all-time high in October driven by increasing user demand.
Due to the restructuring and upgrade scheduling, ES8 production was resumed towards the end of October. The deliveries in October consisted of 218 ES8s, the Company’s six-seater or seven-seater flagship premium smart electric SUV, 2,528 ES6s, the Company’s five-seater high-performance premium smart electric SUV, and 921 EC6s, the Company’s five-seater premium smart electric coupe SUV. As of October 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 145,703 vehicles.
Author: Gaurav Batavia, Seeking Alpha