Nio Accelerates as Investors Continue to Cheer Better-Than-Expected 2Q

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Nio (NYSE:NIO) was up nearly 19% around 3:00 PM ET.

In the second quarter, NIO delivered 10,331 vehicles, exceeding its quarterly guidance of sales to be within the top end of  9,500-to-10,000 vehicles. 

The company delivered a monthly record of 3,740 vehicles in June, up 179.1% year-on-year, consisting of 2,476 ES6s, the company’s 5-seater high-performance premium smart electric SUV, and 1,264 ES8s, the company’s 7-seater high-performance premium smart electric SUV, and its 6-seater variant. 

“In June, we achieved a historical high of monthly deliveries, contributing to our best quarterly performance” said Steven Feng, chief financial officer of NIO. “We are pleased to deliver solid results driven by our competitive products, superior services and expanding sales network. Our deliveries in the second quarter of 2020 exceeded the high end of our earlier projection, and we are confident that our goals on gross margin and operational efficiency will be achieved”