NIO delivered second highest ever of 3,533 vehicles in July 2020, increasing by 322.1% year-over-year

According to the press release from NIO click here to read NIO delivered 3,533 vehicles in July 2020, representing a robust 322.1% growth year-over-year. The deliveries consisted of 2,610 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 923 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV. As of July 31, 2020, cumulative deliveries of the ES8 and the ES6 reached 49,615 vehicles, of which 17,702 were delivered in 2020.

Nio delivered the second highest ever in their history despite floods and production halts.

“In July, we are pleased to have achieved the second-highest monthly delivery results despite the impact on productions due to a 5-day suspension of manufacturing to prepare for EC6 productions and other flood-related supply chain challenges,” said William Bin Li, founder, chairman, and chief executive officer of NIO. “More proudly, we have achieved a record-high monthly order growth, attributed to a stronger demand of the ES8 and ES6, together with the increasing EC6 orders, thanks to the continuous support of our users. We believe we will be able to increase our production capacity significantly to support higher deliveries in the third quarter of 2020.

NIO lost 5 days due to flooding and EC6 production which means they delivered 3533 in 26 days. That is 135 cars per day so the lost 5 days they could have delivered 679 more which adds upto 4212 cars. Bin Li said they see a very strong demand for Ec6 orders there new model. September deliveries will include Ec6 according to Bin Li so September will see a record sales number.

Nio was up 6% in premarket and investors are feeling more positive with the strong guidance and they are expecting a turnaround in the earnings report which will be released in a week August 11 according to NIO.

We believe Nio is a Strong buy. Investors are seeing the value now as NIO was able to produce stellar sales consecutively for the last 2 months.

We see upside movement in the stock which will continue till their earnings report on August 11,2020. If they deliver a good earnings this stock is poised to explode.