After setting a brand new supply report in Could, NIO (NYSE: NIO) is predicted to ship over 54,000 EVs within the second quarter. Regardless of a slight decline from Could’s numbers, NIO is projected to ship over 18,000 EVs in June, which might be sufficient to high its Q2 supply goal.
Analysts see NIO hitting Q2 supply goal
Deutsche Financial institution analyst Wang Bin’s workforce expects Chinese language EV maker NIO will hand over 18,200 EVs this month.
If true, it will be a 68% enhance from June 2023 however a slight 12% slip from Could’s report. NIO delivered 20,544 electrical vehicles in Could, up 234% YOY and breaking the earlier report of 20,462 set in July 2023.
By means of the primary 5 months of 2023, NIO has handed over 66,217 EVs, representing 51% progress from final yr.
Regardless of lacking first-quarter estimates, Wang’s workforce predicts higher ends in Q2. At 18,200, NIO’s Q2 deliveries would complete 54,200, on par with its steerage of 54,000 to 56,000.
Wang’s workforce famous NIO’s home gross sales reached 7,000 within the first two weeks of June. The workforce additionally stated new order movement is estimated round 22,000 after extending its “demo automotive” low cost.
Extra tailwinds
Following the new 2024 ET7 launch in April, NIO’s lineup is fully refreshed. NIO’s lineup now contains the 2024 ET5, ET5T, EC6, ES6, EC7, ET7, and ES8 primarily based on its NT 2.0 platform.
NIO additionally unveiled its new low-cost Onvo model final month, designed to tackle mass-market manufacturers like VW and Toyota. The primary mannequin, the Onvo L60 electrical SUV, begins at simply $30,500 (219,900 yuan) as a possible Tesla Mannequin Y rival.
Wang’s workforce sees the massive issues out of the brand new mass-market model. Earlier this month, a observe to traders learn, “We predict Nio’s expectation of month-to-month >20,000 unit supply is achievable with a lift from Onvo.”
NIO will launch a bigger electrical SUV beneath the Onvo model subsequent yr whereas extra are on the best way.
Earlier this month, NIO’s president and co-founder Qin Lihong confirmed that the EV maker had begun constructing its third manufacturing unit.
The third manufacturing unit is predicted to lift NIO’s complete manufacturing capability to 1 million, on par with Tesla’s Shanghai plant (1.1 million).
Lihong advised native Blue Whale Information that NIO’s manufacturing capability had reached single shift capability. He added, “NIO doesn’t have an overcapacity downside.”
Regardless of the expansion, NIO’s inventory is down over 47% this yr and 92% from its all-time excessive of over $62 per share in February 2021. Different EV shares like Rivian (-48%), Lucid (-39%), and Tesla (-26%) are down year-to-date.
Earlier in the present day, Electrek reported Tesla is anticipated to have a tricky Q2 for deliveries. Wall St expects Tesla to ship 450,000 automobiles within the second quarter, which might be down from 466,000 in Q2 2023.
Supply: CnEVPost
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