NIO Sold 1,573 ES8 Electric SUVs In October: Targets 7,000 In Q4 2018

NOV 12 2018 BY MARK KANE 3

NIO intends to sell 10,000 ES8 by the end of 2018.

NIO said that the production and deliveries of ES8 amounted in the third quarter to 4,206 and 3,268, respectively.

Together with 100 ES8 sold in June, and 1,573 in October, total volume reached 4,941. The latest result is lower than in September, but sales were affected by the seven-day Golden Week national holiday in China.

“Deliveries of the ES8 in October 2018 reached 1,573 vehicles. October deliveries were partially impacted by the seven-day Golden Week national holiday, during which the deliveries were slowed down for vehicle registration office closures and the Company made production line modifications to accommodate ES6 production, the 5-seater premium SUV targeted for launch by the end of 2018.”

NIO ES8 sales in China

Besides the launch of the second BEV model – the ES6 – NIO intends to sell 10,000 ES8 this year, including 6,700-7,000 in the fourth quarter.

That would mean that expected average sales in November-December will be 1,700-1,850 per month.

Q3 results

NIO noted RMB 1,469.6 million ($214.0 million) of revenues in the third quarter, but it’s just a fraction of net loss of RMB 2,810.4 million ($409.2 million).

The conclusion from that is NIO needs to increase its sales volume significantly to become profitable at some point in the future.

As of the end of September, NIO had RMB 9,153.4 million ($1,332.8 million) of cash and cash equivalents, restricted cash and short-term investment.

Categories: NIO, Sales

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3 Comments on "NIO Sold 1,573 ES8 Electric SUVs In October: Targets 7,000 In Q4 2018"

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ES8 averages $65k each? Or do they also have revenue from other sources?

I saw an article elsewhere that put the current average sales price of ES8 at $65,000. (As opposed to $69,000 in the previous period — though I don’t remember what the periods where exactly…)

I don’t know whether that was data directly from Nio though, or they just did the maths themselves…

Burning cash! At this rate they will be bankwupt in 9 months…
😃

For those who lack the ability to have fun I herewith add a sarc tag…