We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
NIO Reports Record Figures for Vehicle Deliveries in August
Read MoreHide Full Article
NIO Inc. (NIO - Free Report) recently reported its vehicle deliveries for the month of August, which has set new records.
The premium Chinese electric vehicle maker completed deliveries of 3,965 vehicles in August, marking a whopping year-over-year rise of 104.1%. This reflects a 12.2% jump from the 3,533 vehicles delivered in July. The August deliveries comprised 2,840 ES6 model, the company’s 5-seater high-performance premium smart electric SUV, and 1,125 ES8 model, NIO’s 6- and 7-seater flagship premium smart electric SUV. By the end of the reported month, the aggregate deliveries of ES8 and ES6 models were as high as 53,580, including 21,667 deliveries made in 2020.
In the current year, NIO has delivered 21,667 vehicles all inclusive, representing a year-over-year jump of 109.9%.
August witnessed the company’s best monthly performance till date in respect of both deliveries and order growth. Per records, the previous monthly record was 3,740 vehicles delivered in June. The company aims to hit a monthly capacity of 5000 units in September by ramping up its manufacturing capacity.
Recently, NIO — often dubbed as the Tesla (TSLA - Free Report) of China — announced that it had completed the offering of 101.8 million American depositary shares (ADS) at a price of $17.00 per ADS, to raise $1.73 billion. With the new proceeds, the company aims to further improve its balance-sheet position and restructure the capital composition in order to rev up NIO’s technological advancement, with primary focus on electric and autonomous vehicles.
NIO reported solid second-quarter results, with total revenues of $526.4 million, up 146.5% year over year. The company’s vehicle-level gross margins reached as high as 9.7% in the quarter, reflecting 17.1% growth from the previous quarter.
On a further encouraging note, NIO expects third-quarter deliveries in the band of 11,000-11,500 vehicles, suggesting an uptick of 134.5% at the mid-point of the range. Quarterly revenues are forecast between $572.9 million and $596.2 million, indicating a rise of 125% from the corresponding quarter of 2019.
Zacks Rank and Other Key Picks
NIO currently carries a Zacks Rank #2 (Buy). Shares of the company have surged 347.3% in the year-to-date period, outperforming the industry’s decline of 4.5% during the same period.
Shares of Peugeot SA and BMW AG have declined 23.2% and 9.7%, respectively, in the year-to-date period.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
NIO Reports Record Figures for Vehicle Deliveries in August
NIO Inc. (NIO - Free Report) recently reported its vehicle deliveries for the month of August, which has set new records.
The premium Chinese electric vehicle maker completed deliveries of 3,965 vehicles in August, marking a whopping year-over-year rise of 104.1%. This reflects a 12.2% jump from the 3,533 vehicles delivered in July. The August deliveries comprised 2,840 ES6 model, the company’s 5-seater high-performance premium smart electric SUV, and 1,125 ES8 model, NIO’s 6- and 7-seater flagship premium smart electric SUV. By the end of the reported month, the aggregate deliveries of ES8 and ES6 models were as high as 53,580, including 21,667 deliveries made in 2020.
In the current year, NIO has delivered 21,667 vehicles all inclusive, representing a year-over-year jump of 109.9%.
August witnessed the company’s best monthly performance till date in respect of both deliveries and order growth. Per records, the previous monthly record was 3,740 vehicles delivered in June. The company aims to hit a monthly capacity of 5000 units in September by ramping up its manufacturing capacity.
Recently, NIO — often dubbed as the Tesla (TSLA - Free Report) of China — announced that it had completed the offering of 101.8 million American depositary shares (ADS) at a price of $17.00 per ADS, to raise $1.73 billion. With the new proceeds, the company aims to further improve its balance-sheet position and restructure the capital composition in order to rev up NIO’s technological advancement, with primary focus on electric and autonomous vehicles.
NIO reported solid second-quarter results, with total revenues of $526.4 million, up 146.5% year over year. The company’s vehicle-level gross margins reached as high as 9.7% in the quarter, reflecting 17.1% growth from the previous quarter.
On a further encouraging note, NIO expects third-quarter deliveries in the band of 11,000-11,500 vehicles, suggesting an uptick of 134.5% at the mid-point of the range. Quarterly revenues are forecast between $572.9 million and $596.2 million, indicating a rise of 125% from the corresponding quarter of 2019.
Zacks Rank and Other Key Picks
NIO currently carries a Zacks Rank #2 (Buy). Shares of the company have surged 347.3% in the year-to-date period, outperforming the industry’s decline of 4.5% during the same period.
Some other top-ranked stocks in the auto space include Peugeot SA and BMW AG (BAMXF - Free Report) . Peugeot SA flaunts a Zacks Rank #1 (Strong Buy), while BMW AG carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Peugeot SA and BMW AG have declined 23.2% and 9.7%, respectively, in the year-to-date period.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>