Nio Inc. (NIO) reports deliveries of just under 16k units in November

December 1, 2023 10:40 AM EST

China’s NIO Inc. (NYSE: NIO), a prominent player in the high-end smart electric vehicle sector, released its November 2023 delivery figures on Friday.

In November 2023, NIO achieved a delivery milestone of 15,959 vehicles, marking a 12.6% increase compared to the previous year.

Among these deliveries were 10,545 premium smart electric SUVs and 5,414 premium smart electric sedans. As of November 30, 2023, NIO has cumulatively delivered 431,582 vehicles.

Despite a year-to-date decline of over 20% in NIO stock, analysts maintain a bullish outlook, backing it with a Strong Buy consensus rating derived from four Buy ratings and one Hold.

The average NIO price target of $14.38 indicates upside potential of 97.8% from the current levels.

Fellow Chinese electric automakers, Li Auto (NYSE: LI) and XPeng (NYSE: XPEV) also reported November results with LI reportedly delivering 41,030, boasting a 172% Y/Y increase. XPEV delivered 20,041 units, surpassing their Y/Y results by 245%.

NIO is scheduled to release its Q3 financial results on Tuesday, December 5, 2023, ahead of the opening of the U.S. markets.

Shares of NIO are down 2.89% in early trading Friday morning.

By Michael Elkins | [email protected]

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