NIO nearly tripled its EV sales in October 2022

NIO saw a sales growth of 174% YoY, with a total of 10,059 electric vehicle deliveries in October, as per InsideEVs.

China as NIO’s major market

In retrospect, only 3,667 NIO EVs were sold in October 2021 as a result of the JAC-NIO Advanced Manufacturing Center in Hefei being retooled. Notably, it was the sole NIO factory at the time. Thus, this significant growth rate is brought on by a relatively low base.

Meanwhile, the 10,000+ sales represent a consistent performance in comparison to the preceding months. However, it must be noted that this figure is a little less than in September and August sales.

It is hardly surprising that China accounts for most of NIO’s sales, as it is the automaker’s homeland. The Chinese automaker sold 2,928 sedans and 5,979 crossover/SUVs last month (up 60% YoY).

COVID-19 affects NIO’s operations

Considering that China is once more adversely affected by COVID-19, it would be hard to predict how NIO would perform in the following months. In fact, the company had to shut down its factories due to new regulations.

“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,” NIO stated on November 1.

On November 2, Reuters verified that the company had paused manufacturing:

“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.”

To put it simply, limitations become a momentary full stop. It is indeed hard to predict how long manufacturing could need to restart.

Sales figures, as per the report:

• 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

NIO has sold more than 92,000 electric vehicles worldwide this year to date:

• 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)

NIO delivered 259,563 electric vehicles overall, with over 113,000 of those sales occurring in the previous 12 months. It is also worth noting that its 200,000th vehicle was built on April 26.

NIO’s models

NIO’s six electric vehicle models are the EC6, ES6, ES7, ES8, ET5, and ET7. The ET5 is made at NeoPark (NIO’s second plant). Meanwhile, the other five models are manufactured at the JAC-NIO Advanced Manufacturing Center in Hefei.

The first-generation platform is utilized by the EC6, ES6, and ES8. On the other hand, the NT 2.0 platform is used by ES7, ET5, and ET7.

Considering that China is the primary market of NIO, the resurgence of COVID-19 is terrible news for the automaker. Hopefully, it will not affect NIO’s current growth rate and European expansion plans.