NIO reported its latest delivery numbers for October before the opening bell on Monday.

The company delivered 3,667 cars last month, a 27.5% decrease year-on-year. The ”Chinese Tesla” highlighted that the delivery results were impacted by restructuring and upgrades of manufacturing lines as well supply chain issues.

The deliveries in October consisted of:

• 218 ES8s – the company’s six-seater or seven-seater flagship premium smart electric SUV
• 2,528 ES6s – the company’s five-seater high-performance premium smart electric SUV
• 921 EC6s – the company’s five-seater premium smart electric coupe SUV

NIO has delivered a total of 145,703 cars as of 31^st October 2021.

About NIO

NIO is a Chinese car manufacturer founded in 2014 by William Li, a Chinese business executive, and entrepreneur. Its headquarters are based in Shanghai, China. It also has international offices in Hong Kong, Macau, the United States, Germany, United Kingdom and Norway. It employs over 7,000 people worldwide.

NIO Inc. Chart (1Y)

Despite the disappointing delivery numbers, share price of NIO was trading higher during the session on Monday – up by around 2%. The stock is up by 21% in the past year.

The company is set to announce its third-quarter earnings after the closing bell next Tuesday.

NIO is the 10^th largest automaker in the world with a market cap of $66.01 billion.

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Sources: NIO, TradingView