NIO Increased Electric Car Sales In March 2020

NIO Increased Electric Car Sales In March 2020

04/07/2020

Against all odds, in March NIO managed to sell more cars than a year ago and this month the new, improved ES8 is coming to the market.

NIO reports 1,533 electric car sales in China, which is slightly more – by 11.7% – than in March 2019. Not bad in these challenging times.

However, not everything is smooth yet, as most of the sales are ES6 (5-seat SUV), while the ES8 (7- or 6-seat SUV) is still at the bottom.

“NIO delivered 1,533 vehicles in March 2020, representing a robust 116.8% month-over-month growth mainly contributed by our recovering production capacity. The deliveries consisted of 1,479 ES6s, the Company’s 5-seater high-performance premium electric SUV, and 54 ES8s, the Company’s 7-seater high-performance premium electric SUV and its 6-seater variant.”

NIO sales in China – March 2020

So far this year NIO sold 3,838 electric cars (down 3.8% year-over-year) and 35,751 cumulatively.


The situation with the ES8 might improve this month, as the company intends to launch a new, highly improved version, with 180 changes.

William Bin Li, founder, chairman and chief executive officer of NIO said:

“We are pleased to see the gradual recovery of our production in March, with special thanks to the great support from our supply chain partners since the second half of March. In parallel with our continued online sales efforts, our in-store visits have also witnessed a gradual pickup. With the continuous support from our loyal user community, we have seen increasing order backlog since February.”

Steven Feng, chief financial officer of NIO, added:

“As the COVID-19 outbreak is largely brought under control in China at this stage, we will continue working closely with our supply chain partners to resume normal productions. Meanwhile, we remain committed to roll out NIO Spaces and integrate online and offline sales channels to further boost our order growth.”

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