NIO Inc. Provides May 2023 Delivery Update
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Deutsche Bank cuts estimates on NIO Inc. (NIO) but maintains Buy rating ahead of 1Q release
June 5, 2023 12:38 PM EDTDeutsche Bank reiterated a Buy rating on NIO Inc. (NYSE: NIO) and cut their 12-month price target on the stock to $13.00 (From $19.00) ahead of the electric vehicle makers 1Q23 earnings release. NIO is scheduled to report 1Q earnings this Friday before US markets open.
Analyst, Edison Yu is expecting weak results from NIO after the company reported April and May delivery results for a combined 12,813 units, bringing the companies 1Q deliveries to 31,041 (low-end of 31,000-33,000 guidance).
During the quarter, NIO aggressively cleared out their older 866 inventory as they prepared to... More
Analysts watch closely as Chinese EVs battle for market share in Europe
June 1, 2023 10:24 AM EDTAs new EV competitors push into Europes mass market segment, how much market share will they be able to take? Analysts are keeping a close eye on the next 24 months for significant indicators of the potential risks that incumbent European automakers may face and the extent to which their market share could be at stake.
The annual sales of new cars in Europe far surpass $100 billion. With the increasing adoption of battery electric vehicles (BEVs) in Europe, the market will witness a steady flow of highly competitive offerings from established companies as well as new... More
NIO reports May delivery results: Sales dip, new models set to drive future growth
June 1, 2023 8:25 AM EDTOn Thursday, NIO Inc. (NYSE: NIO), a leading Chinese manufacturer of high-end smart electric vehicles, revealed its delivery figures for May 2023, reporting a total of 6,155 vehicles delivered.
Results were down 7.55% from April, which was off 35.9% from March.
Nio began... More
