NIO - Poor Deliveries Came From Nio (NIO Stock) Xpeng And Li Auto. Some Stocks Are Still Going Up

November, 01 2022 03:10 PM NIO Inc. American depositary shares each representing one Class A

On Tuesday, NIO (NIO stock) said that the number of vehicles delivered in October was 10,059. That is a decrease from September’s delivery total of 10,878.

Investors are getting a little anxious about the demand for electric vehicles in China due to price reductions and slower sales growth. After looking at the monthly delivery data from the country’s EV manufacturers, this anxiety appears warranted.

Despite this, there were connected stocks that were going up on Tuesday’s trade. After all, the American depositary receipts of Chinese companies have taken a significant beating recently.

October’s performance fell short of expectations on Wall Street by a few thousand units. After the production capacity was upgraded, it was anticipated that NIO would begin producing a greater number of vehicles each month. The company stated in a news statement that “vehicle production and delivery were hampered by operation issues in our plants as well as supply chain volatilities due to the Covid-19 crises in some places in China.”

NIO ADRs opened about 8% higher on Tuesday but have given back some of those gains and are presently up around 3% in midday trading. This is despite deliveries that were lower than had been hoped for. The S&P 500 and the Dow Jones Industrial Average are currently trading with losses of approximately 0.2% and 0.3%, respectively.

The increase in the NIO ADR price is a comfort to investors who have been struggling. The price of NIO ADRs had dropped by around 39% during the previous month and 69% so far this year before trading on Tuesday. The combination of increasing interest rates and rising geopolitical tensions between the United States and China has devastated the stock market.

Investors have also been made uneasy by price reductions. Around the 24th of October, Tesla (TSLA) decreased the list prices for its automobiles that are sold in China. A couple of days later, pricing for electric vehicles p...

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Company Name:	NIO Inc. American depositary shares each representing one Class A
Stock Symbol:	NIO
Market:	NYSE
Website:	nio.com