After several disappointing quarters, Chinese EV maker Nio’s sales surge
In the 3rd quarter, Nio provided 4,196 of its five-seater ES6 SUV and 603 of the ES8, its more costly seven-seater premium electrical SUV. Nio has struggled to hit its own guidance in previous quarters. Nio started shipments of the ES8 in China in June 2018. Nio’s reaction to its depressing numbers has consisted of shifting its automobile production plans, reducing R&D spending and cutting thousands of jobs. Nio delivered 1,340 cars in June, 1,089 in May and 1,124 in April.
In the 3rd quarter, Nio provided 4,196 of its five-seater ES6 SUV and 603 of the ES8, its more pricey seven-seater premium electric SUV. Nio’s response to its miserable numbers has consisted of moving its vehicle production strategies, reducing R&D costs and cutting thousands of tasks. Nio provided 1,340 vehicles in June, 1,089 in May and 1,124 in April.