NIO Inc. (NIO) Ends 4-Day Run as China EV Deliveries Drop

We recently published 10 Stocks That Vanished in Value NIO Inc. (NYSE:NIO) is one of the worst-performing stocks on Tuesday.

NIO Inc. snapped a four-day winning streak on Tuesday, losing 8.96 percent to close at $4.47 apiece after news of lower electric vehicle deliveries sparked investor concerns on the overall EV industry.

According to data from the China Association of Automobile Manufacturers (CAAM), total EV deliveries comprising passenger and commercial vehicles slid by 5 percent to 1.26 million units in July from June figures.

The decline followed Beijing’s earlier calls to manufacturers to roll back on discounts and focus first on profitability.

For its part, NIO Inc. (NYSE:NIO) delivered 21,017 vehicles last month, higher by 2.5 percent than the 20,498 in the same month last year, but was notably slower than the double-digit year-on-year growth in the past three months.

June deliveries were higher by 17 percent; May was up by 13 percent; while April increased by 53 percent.

According to NIO Inc. (NYSE:NIO), July’s deliveries consisted of 12,675 vehicles from NIO’s premium smart electric vehicle brand NIO; 5,976 vehicles from the family-oriented smart electric vehicle brand ONVO; and 2,366 vehicles from the small smart high-end electric car brand Firefly.

NIO Inc. (NIO) Ends 4-Day Run as China EV Deliveries Drop

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To date, the company has already delivered a cumulative total of 806,731 vehicles, of which the NIO brand accounted for 737,923, followed by the ONVO brand with 58,599, and Firefly with 10,209.

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