NIO stock is in the red this week after the China Association of Automobile Manufacturers (CAAM) published new data that indicated a year-over-year decline in sales of electric vehicles (EV).
Slumping Sales Sink NIO StockNIO Inc (NYSE:NIO), a major Chinese manufacturer of electric vehicles, has been enduring a difficult time as of late as it contends with weak sales, a lack of funding from the Chinese government for its new facility, and increased pressure in the Chinese market from major rival Tesla (NASDAQ:TSLA). NIO stock has now been dealt a further blow after the CAAM ...
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