NIO Inc. Provides August 2024 Delivery Update

Rhea-AI Summary

NIO Inc. (NYSE: NIO) reported its August 2024 delivery results, showcasing continued growth in the electric vehicle market. The company delivered 20,176 vehicles in August, comprising 11,923 premium smart electric SUVs and 8,253 premium smart electric sedans. Year-to-date deliveries for 2024 reached 128,100 vehicles, marking a significant 35.8% increase compared to the same period last year. This growth has pushed NIO's cumulative vehicle deliveries to an impressive 577,694 units as of August 31, 2024, solidifying its position as a leading player in the global smart electric vehicle market.

Positive

• Delivered 20,176 vehicles in August 2024
• Year-to-date deliveries increased by 35.8% year-over-year
• Cumulative deliveries reached 577,694 vehicles

Negative

• None.

Financial Analyst

NIO's August delivery figures show solid growth, with 20,176 vehicles delivered, contributing to a year-to-date increase of 35.8%. This growth rate outpaces the overall EV market, indicating NIO is gaining market share. The cumulative delivery milestone of 577,694 vehicles demonstrates NIO's established presence in the competitive EV landscape. However, investors should note that while growth is strong, NIO faces intense competition and ongoing challenges in the Chinese market. The company's ability to maintain this growth trajectory will be important for its financial performance and stock valuation going forward.

Market Research Analyst

NIO's August deliveries reflect a balanced product mix, with SUVs accounting for 59% of monthly deliveries. This diversification helps NIO appeal to a broader customer base and potentially reduces risk from segment-specific fluctuations. The consistent month-over-month delivery numbers suggest stable production capabilities and demand. However, to fully assess NIO's market position, we'd need to compare these figures with competitors and overall market growth. The EV market in China remains highly competitive and NIO's ability to differentiate itself through technology and brand loyalty will be critical for maintaining its growth momentum in the coming quarters.

Tech Expert

NIO's delivery numbers indicate successful scaling of its smart electric vehicle technology. The company's focus on premium segments with both SUVs and sedans suggests a strategy of competing on advanced features rather than price. This approach could lead to higher margins but also requires continuous innovation to stay ahead. NIO's progress in areas like battery swapping technology and autonomous driving capabilities will be important factors to watch. The consistent delivery growth implies that NIO's technology is resonating with consumers, but the company must continue to invest heavily in R&D to maintain its competitive edge in the rapidly evolving EV tech landscape.

• NIO delivered 20,176 vehicles in August 2024
  
• NIO delivered 128,100 vehicles year-to-date in 2024, increasing by 35.8% year-over-year
• Cumulative deliveries of NIO vehicles reached 577,694 as of August 31, 2024

SHANGHAI, Sept. 01, 2024 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the global smart electric vehicle market, today announced its August 2024 delivery results.

NIO delivered 20,176 vehicles in August 2024. The deliveries consisted of 11,923 premium smart electric SUVs, and 8,253 premium smart electric sedans. Cumulative deliveries of NIO vehicles reached 577,694 as of August 31, 2024.

About NIO Inc.
NIO Inc. is a pioneer and a leading company in the global smart electric vehicle market. Founded in November 2014, NIO aspires to shape a sustainable and brighter future with the mission of “Blue Sky Coming”. NIO envisions itself as a user enterprise where innovative technology meets experience excellence. NIO designs, develops, manufactures and sells smart electric vehicles, driving innovations in next-generation core technologies. NIO distinguishes itself through continuous technological breakthroughs and innovations, exceptional products and services, and a community for shared growth. NIO provides premium smart electric vehicles under the NIO brand, and family-oriented smart electric vehicles through the ONVO brand.

Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements, circulars or other publications made on the websites of each of The Stock Exchange of Hong Kong Limited (the “SEHK”) and the Singapore Exchange Securities Trading Limited (the “SGX-ST”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture vehicles of sufficient quality and appeal to customers on schedule and on a large scale; its ability to ensure and expand manufacturing capacities including establishing and maintaining partnerships with third parties; its ability to provide convenient and comprehensive power solutions to its customers; the viability, growth potential and prospects of the battery swapping, BaaS, and NIO Assisted and Intelligent Driving and its subscription services; its ability to improve the technologies or develop alternative technologies in meeting evolving market demand and industry development; NIO’s ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of its vehicles; its ability to control costs associated with its operations; its ability to build its current and future brands; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the SEC and the announcements and filings on the websites of each of the SEHK and SGX-ST. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please visit: http://ir.nio.com

Investor Relations
ir@nio.com

Media Relations
global.press@nio.com

FAQ

How many vehicles did NIO deliver in August 2024?

NIO delivered 20,176 vehicles in August 2024, consisting of 11,923 premium smart electric SUVs and 8,253 premium smart electric sedans.

What is NIO's year-to-date delivery growth rate for 2024?

NIO's year-to-date deliveries for 2024 increased by 35.8% compared to the same period last year, reaching 128,100 vehicles.

What is the total number of NIO vehicles delivered as of August 31, 2024?

The cumulative deliveries of NIO vehicles reached 577,694 as of August 31, 2024.

How many premium smart electric SUVs did NIO deliver in August 2024?

NIO delivered 11,923 premium smart electric SUVs in August 2024.