NIO Limited (NYSE: NIO) shares jumped more than 10% on Monday after the Chinese electric car maker reported its October 2020 delivery results.
NIO delivered 5,055 vehicles in October 2020, a new monthly record representing a strong 100.1% year-over-year growth. The deliveries consisted of 2,695 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, 1,477 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, and 883 EC6s, the Company’s 5-seater premium electric coupe SUV. NIO delivered 31,430 vehicles in 2020 in total, representing an increase of 111.4% year-over-year. As of October 31, 2020, cumulative deliveries of the ES8, ES6 and EC6 reached 63,343 vehicles.
NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began the first deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and began the first deliveries of the EC6 in September 2020.
NIO also announced that it will report its third quarter 2020 unaudited financial results on Tuesday, November 17, 2020, after the close of the U.S. markets.
Previously, vehicle sales were RMB3,486.1 million (US$493.4 million) in the second quarter of 2020, representing an increase of 146.5% from the second quarter of 2019 and an increase of 177.6% from the first quarter of 2020.