On October 8, Weilai (NIO) released the car delivery in the third quarter of 2019. The data shows that NIO delivered a total of 4,799 vehicles in the third quarter, an increase of 35.1% over the second quarter. Delivered products include 4,196 units of NIO ES6 and 603 units of NIO ES8. Previously, NIO had expected delivery in the third quarter between 4,200 and 4,400. For the time being, this latest achievement exceeded expectation.
Li Bin, founder, chairman and CEO of NIO, said: “The delivery volume in the third quarter exceeded the upper limit of our guidance range, as production and delivery of NIO ES6 continued to increase after the initial release in June.” As of September 30, 2019, the total delivery of the NIO ES6 and ES8 reached 23,689 units.
Since NIO announced its second-quarter earnings on September 24, various public opinions have come. The operating conditions of increased losses and declining sales also contributed to the continued decline in NIO’s share price, which once fell to $1.3. However, the share price subsequently rebounded slightly. After the release of the results in the third quarter, Weilai’s share price rose nearly 12%.
Although it has always been at the forefront, NIO has great expectations for its market performance in the third and fourth quarters, and emphasizes its confidence and expectation for NIO’s product competitiveness, it will focus on the second half of the year. At present, the sales results in the third quarter have indeed improved significantly.
However, despite the initial rebound in sales, the pressure on funds that NIO has encountered continues. In the recent conference call, NIO said: its finances are very transparent, I hope that everyone will fully and objectively view the investment of the funds, and said that “we definitely need more funds to support technology research and development, we are very confident to get more support from investor”. At present, sales and financing are important support for the continued NIO’s development, only by taking care of both can we achieve a new round of counterattacks.