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NIO October delivery numbers have arrived – the stock is up

2 November 2022 By Klavs Valters

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NIO Inc. (NYSE:NIO) reported its latest delivery numbers for October on Tuesday.

The Chinese electric vehicle company delivered 10,059 cars last month – up by 174.3% year-over-year.

The deliveries in October consisted of:

  • 5,979 premium smart electric SUV’s
  • 4,080 premium smart electric sedans

Production and deliveries were impacted by supply chain issues and other constraints caused by COVID-19 outbreaks in certain parts of China, according to the company.

NIO has delivered a total of 259,563 electric vehicles as of October 31, 2022.

The stock made some gains on Tuesday, up by around 2% at $9.93 a share.

Shares of NIO have plummeted by over 75% in the past year.

Stock performance

  • 1 month: -40.68%
  • 3 month: -50.82%
  • Year-to-date: -68.67%
  • 1 year: -75.97%

NIO price targets

  • Morgan Stanley: $31
  • HSBC: $28
  • Goldman Sachs: $56
  • Barclays: $34
  • Mizuho: $42
  • Citigroup: $31.3
  • B of A Securities: $26
  • UBS: $32
  • Barclays: $19

NIO is the 22nd largest automaker in the world with a market cap of $16.56 billion.

You can trade NIO Inc. (NYSE:NIO) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: NIO Inc., TardingView, Benzinga, CompaniesMarketCap

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

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