NIO captured its niche and moves forward

Chinese manufacturer NIO reports a record of 3,318 ES8 electric car sales in December. It will probably stay a record for a while as the first quarter brings seasonally lower demand in China.

Anyway,s NIO delivered a total of 11,348 ES8 in 2018, which is slightly more than the goal.

The ES8 7-seater will be joined by the NIO ES6 5-seater in June 2019, which should further highly increase NIO's results.

NIO ES8 sales in China – December 2018

NIO ES8 sales in China – December 2018

William Li, founder, chairman and chief executive officer of NIO said:

“With 11,348 ES8 deliveries in 2018, we exceeded our delivery goal for our first calendar year as a public company. 2018 has been a milestone year for us, as we produced and delivered over 11,000 ES8s and launched our second production car, the ES6, a 5-seater high-performance premium electric SUV on NIO Day in December 2018. We will continue to focus on market penetration by delivering high-quality products and holistic services to our users and to improve the system efficiency of our development and operations.”

Louis T. Hsieh, NIO’s chief financial officer added :

“We are pleased with the solid ramp-up in production and delivery in 2018, which demonstrated our execution capabilities. The delivery of 3,318 ES8s in December exceeded our expectation, which was in part due to accelerated deliveries made at the year end in anticipation of expected EV subsidy reductions in China in 2019. Despite an overall challenging automotive market and the seasonal low demand in the first quarter, we remain committed to expanding our sales network and strengthening our brand to support our future growth.”

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