NIO’s May delivery numbers have arrived

NIO Inc. (NIO) reported its latest delivery numbers for May on Wednesday.

The Chinese electric vehicle company delivered 7,024 cars in the previous month – a 11.8% increase year-over-year.

Production and deliveries have been recovering from the constraints caused by COVID-19 outbreaks in China, according to the company, however, it still had a slight impact on the production last month.

The company expects ”to accelerate the delivery recovery starting from June.”

The deliveries in May consisted of:

• 746 ES8s – the company’s six-seater or seven-seater flagship premium smart electric SUV
• 2,936 ES6s – the company’s five-seater high-performance premium smart electric SUV
• 1,635 EC6s – the company’s five-seater premium smart electric coupe SUV
• 1,707 ET7s – the Company’s flagship premium smart electric sedan

NIO has delivered a total of 204,936 electric vehicles as of 31^st May, 2022.

The company will report its Q1 earnings results on the 9^th June.

NIO Inc. chart

Here is how the stock has performed in the past year:

• 1 Month -3.09%
• 3 Month -19.29%
• Year-to-date -44.54%
• 1 Year -57.31%

NIO price targets

• UBS $32
• Mizuho $60
• Morgan Stanley $34
• Barclays $34
• Deutsche Bank $70
• Goldman Sachs $56

NIO is the 17^th largest automaker in the world with a market cap of $29.90 billion.

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Sources: NIO Inc., MarketWatch, Benzinga, CompaniesMarketCap