NIO Almost Tripled Electric Car Sales In October 2022

However, the future is uncertain as production has been halted due to COVID-19 measures.

By: Mark Kane

Nov 2, 2022 at 5:39pm ET

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NIO reports that its overall electric vehicle deliveries in October amounted to 10,059, which is just 174% more than a year ago.

This high rate of growth is a result of a very low base, because in October 2021, only 3,667 NIO EVs were sold due to the retooling of the JAC-NIO Advanced Manufacturing Center in Hefei (at the time it was the only NIO factory).

Compared to the previous months, the 10,000+ sales is a stable result, actually slightly lower than in September and August.

The overwhelming majority of NIO sales are in China.

Last month, the company sold 5,979 crossover/SUVs (up 60% year-over-year) and 2,928 sedans (new category).

The main issue is what will happen next, because China is once again affected by COVID-19 and new measures required the company to close its manufacturing facilities.

NIO said on November 1 that "The vehicle production and delivery were constrained by operation challenges in our plants as well as supply chain volatilities due to the COVID-19 situations in certain regions in China." However, on November 2, Reuters confirmed that the company suspended production:

“The news that production at Nio’s factories has been temporarily suspended is true and this will have an impact on production and delivery schedules,”

In other words, constraints changed into a temporary full stop. It's difficult to tell how long it might take to restart production - days or maybe weeks (probably more likely)?

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It will be very interesting to see whether this will also impact NIO's expansion in Europe.

Sales results:

Crossover/SUVs (EC6, ES6, ES7, ES8): 5,979 (up 60% year-over-year)
including 1,895 ES7
Sedans (ET5, ET7): 4,080 (new)
including 3,050 ET7 and 1,020 ET5
Total: 10,059 (up 174% year-over-year)

NIO car sales – October 2022

So far this year, NIO globally sold over 92,000 electric cars:

Crossover/SUVs (EC6, ES6, ES7, ES8) YTD: 72,753 (up 3.8% year-over-year)
Sedans (ET5, ET7) YTD: 19,740 (new)
Total YTD: 92,493 (up 32% year-over-year)

Cumulatively, NIO sold 259,563 electric cars (the 200,000th car was produced on April 26), including over 113,000 in the most recent 12 months.

NIO offers six electric car models (EC6, ES6, ES7, ES8, ET5 and ET7). All aside from the ET5 are produced at the JAC-NIO Advanced Manufacturing Centre in Hefei. The ET5 is produced at NIO's second factory at NeoPark.

The EC6, ES6 and ES8 are based on the first generation platform, while the ES7, ET5 and ET7 are based on the NT 2.0 platform.