Electric vehicle shipments were disclosed by NIO Inc (NIO) in April 2021. Despite the shortage of semiconductors, the NIO stock’s shipments are increasing rapidly.
More than a quarter of a million automobiles were delivered to customers in April, a 125 % increase over April 2013. Near the end of this quarter, NIO plans to deliver over twenty thousand vehicles. Despite the shortage of electronic components, the production of electric vehicles has been halted for five days.
Based on forecasts, the deficit may continue for some time and may exert pressure on production growth. In anticipation of the production of the new ET7 sedan, NIO is rebuilding assembly lines while the two plants are shut down. The NIO stock has sold only crossovers to date. The ET7 sedan is scheduled to go on sale early next year and can compete with the Tesla Model S and other sedans in the premium segment.
NIO started construction on a new production site in Hefei, China, at the end of April, which was expected to allow them to increase production at a rapid pace. Additionally, NIO continues to build out its charging infrastructure in China.
Compared to 2020, NIO reduced its losses by 70 % to $ 70 million in the first quarter, with car sales margins greater than 21%.
Last trading session, NIO Inc.’s stock added 2.18% to $39.84. There were 116.73 million shares traded on the day, below the average trading volume published for the past 50 days of 101.53 million shares. The shares of NIO Inc. have retreated -3.02% over the last five days, but they are up 2.21% over the previous month. Over the last three months, the NIO stock’s stock price has plunged -30.11%, and year-to-date, the NIO stock is down -18.26%.