Client Portal
Start trading

NIO Stock Gets a Boost from Record China EV Sales

NIO stock has gotten a boost from record EV sales in China but needs another push higher.

NIO: Weekly Chart

NIO: Weekly Chart

The price of NIO has been trending downward and really needs to target the $13 level on the US ADR.

NIO reported over the weekend that it delivered 10,707 EVs in June, up 74.0% from a disappointing May but down 17.4% from a year ago. For the second quarter, Nio delivered 23,520 EVs, down 24.2% from the first quarter and 6.1% from a year ago.

The company has also deployed 1,339 Power swap stations, 1,285 Power Charger stations with 6,467 chargers, and 1,154 destination charging stations with 7,993 chargers around the world.

Nio stock benefited from a price cut strategy and is now betting on the recently launched ES6, which is a new SUV it hopes will bring new buyers. The company raised cash from investors linked to the Abu Dhabi government this year with a $738 million cash infusion.

NIO can mount a further rebound from here despite tough competition in the EV space in China. BYD led the way in overall sales, with Tesla taking second in June. However, other domestic rivals, Li and Xpeng, also saw sales boosts over the period.

The Shenzhen-based BYD, backed by Warren Buffett’s Berkshire Hathaway, sold 253,046 cars last month, a 5.3 percent gain over May.

Sina Auto Insights said:

“Price cuts should temporarily boost sales, but NIO may have to recalibrate its product and pricing strategy”

NIO stock could get a boost in the coming weeks, as VandaTrack research said that it has seen some signs of investors rotating out of AI stocks and into laggard names in the EV sector.

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

Recent News
Start Trading Today
Free Demo Account

✅ Practice risk-free
✅ Master the markets
Deposit funds & trade live when you’re ready!

Open Live Account
Open Demo Account
Popular posts
Learn More
With ATFX
Related Post
ATFX_logo

© ATFX.COM. All rights reserved.

Legal: AT Global Markets (UK) Limited is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FCA registration number (760555).Registered Office: 1st Floor, 32 Cornhill, London EC3V 3SG, United Kingdom. Company No.09827091

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. Please read the full risk disclosure on pages 42-45 of our Terms of Business.

The commercialisation of services and the acquisition of clients can only be carried out in Spain by an authorised entity or through a tied agent.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

ATFX is a co-brand shared by a group of entities including:

AT Global Markets (UK) Ltd is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom with registration number 760555. The Registered Office: 1st
Floor, 32 Cornhill, London EC3V 3SG, United Kingdom. (Professional clients only)

ATFX Global Markets (CY) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 285/15. The Registered Office: 159 Leontiou A’ Street, Maryvonne Building Office 204, 3022, Limassol, Cyprus.

AT Global Markets Intl Ltd is authorized and regulated by the Financial Services Commission with registration number 157819 and license number C118023331. The Registered Office: G08, Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius.

ATFX MENA FINANCIAL SERVICES LLC is regulated by the Securities and Commodities Authority (SCA) in the United Arab Emirates with the license number 20200000078.

EMERGING MARKETS is regulated by the Jordan Securities Commission authority as an Introducing Broker license number 643 and is the regulated entity in the Hashemite Kingdom of Jordan.

ATFX is a trademark of AT Global Markets INTL LTD a company registered in Mauritius under FSC and all services in the Hashemite Kingdom of Jordan is offered through its Introducing Broker.

AT Global Markets LLC is a Limited Liability Company in Saint Vincent and the Grenadines with company number 333 LLC 2020. The Registered Office: Euro House, Richmond Hill Road, Kingstown, St. Vincent and the Grenadines.