On January 1, 2022, NIO Inc. (NIO) announced its delivery updates for December, fourth quarter as well as full-year 2021.
Previously, the stock saw a downfall on China’s Finance Ministry’s subsidies news. Hence, during the previous session, the stock went down by 2.28% at $31.68. After the announcement of delivery updates for December, NIO stock gained in the pre-market, causing the stock to surge 2.02% at $32.32.
Currently, the 1.37 billion outstanding shares of the Electric Vehicle manufacturer trade at a market capitalization of $51.91 billion.
NIO’s Delivery Updates
As per Saturday’s updates, the company delivered 10,489 vehicles in December 2021. This shows an increase of 49.7% year over year. Moreover, the deliveries comprised 2,782 ES8s, 4,939 ES6s, and 2,768 EC6s. The ES8 is NIO’s six or seven-seater flagship premium smart electric SUV, ES6 is a five-seater high-performance premium smart electric SUV and EC6 is a five-seater premium smart electric coupe SUV.
Moreover, in the fourth quarter of 2021, the company delivered 25,034 vehicles, marking a new record-high quarterly delivery. This shows 44.3% year-over-year growth.
Furthermore, the vehicle deliveries of the full year 2021 were 91,429, an increase of 109.1% year over year.
Hence, the cumulative deliveries of ES8, ES6, and EC6 totaled 167,070 vehicles on December 31, 2021.
In addition, the company held NIO Day 2021 on December 18, during which it launched ET5. The ET5 is a mid-size premium smart electric sedan with an RMB328,000 pre-subsidy starting price or RMB258,000 with Battery as a Service (BaaS). Further, the deliveries of ET5 are expected to begin in September 2022. Moreover, in March 2022, NIO expects to commence the deliveries of its ET7 premium smart electric sedan.
What Happened Before?
The company ended 2021 with a fall, while it gained big the day before. The reason for this downtrend on the last day of 2021, was news from China’s Finance Ministry. As per reports, the ministry announced to first lower and then altogether end the new electric vehicle (NEV) subsidies. The ministry plans to cut 30% of the NEV subsidies in 2022, ending it altogether after the end of 2022.
After subsidies boomed China’s NEV market, currently, the country no longer feels the need to subsidize purchases. While the subsidies did help NIO’s sales, as these were basically for lower-priced cars so, hopefully, it won’t affect the company much. Given the launch and expected deliveries of two new EVs in 2022, NIO’s future outlook seems bright.
