Chinese EV manufacturer NIO provided its April delivery result of 7,102 units, a strong 125.1% year-over-year growth.
Despite being affected by the global chip shortage, NIO still kept up with consistent market demand to deliver more than 7,000 cars in a month for the third time in 2021 and maintained growing momentum.
Demands for all three SUV models remained. The delivery of the all-new ES8, the flagship smart electric SUV, reached 1,523 units. The delivery of the ES6, the all-around smart electric SUV, and the EC6, the smart electric coupe SUV, totaled 5,579 units, continuing to lead the mid-size battery-electric SUV segment. As of April 30, NIO’s cumulative deliveries stood at 102,803, and the delivery in the second quarter of 2021 is expected to be between 21,000 to 22,000 units.
On April 29, the company reported its first-quarter financial results. In the first quarter of 2021, NIO’s total revenues grew to $1.22 billion, up by 481.8% year-over-year and 20.2% quarter-over-quarter. Its vehicle margin and gross margin increased to 21.2% and 19.5%, respectively. The company also achieved a cash hoard of $7.3 billion and an operating loss of $45.2 million which was down by 68.2% quarter-over-quarter.
“Our users and the efforts of our teams in 2020 have made it possible for NIO to be operationally consistent with supporting our accelerated development. 2021 is crucial for NIO. Our power, sales, and service networks will grow. NIO’s brand awareness, superior NIO user experience, and important investments in research and development of new products and technologies will further establish NIO’s foundation and future development,” said William Bin Li, founder, chairman, and chief executive officer of NIO.