NIO Stock Recent News

Vehicle sales and margins increased during the second quarter. Onvo L60 vehicles are rolling off the assembly line, and deliveries start soon.

MONTREAL, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Stingray (TSX: RAY.A; RAY.B), a leader in music, video content distribution, business services, and advertising solutions, is thrilled to announce the launch of Stingray Karaoke in NIO's smart electric vehicles across European territories. This exciting new feature will be available in all NIO cars sold in Europe over the next two years, with each vehicle enjoying three years of complimentary karaoke service.

Nio (NIO) stock price has staged a strong comeback this month even as other Chinese electric vehicle companies like Li Auto, Xpeng, and Polestar remains under pressure. It jumped to a high of $5.5 on Monday, its highest point since May 15.

The stock is currently in a bullish trend, with a 2024 price target of $6.70, driven by favorable RSI and VPT signals. Vehicle deliveries surged to 57,373 units, a 143.9% YoY increase, boosting vehicle sales revenue by 118.2% from Q2 2023. NIO's vehicle margin improved to 12.2% from 6.2% in Q2 2023, driven by lower material costs and production efficiencies.

NIO (NIO) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

Nio nearly doubled shipments in the second quarter compared to the prior quarter. It expects to continue that growth in the third quarter.

With NIO's better-than-expected second-quarter results, let's examine the company's fundamentals to determine if now is the right time to buy its shares.

Chinese luxury electric vehicle maker Nio stock published a narrower-than-expected loss for Q2. While sales almost doubled year-over-year to about $2.4 billion, net losses narrowed to $0.30 from $0.45 a year ago, led by strong delivery growth.

Nio missed Q2 revenue estimates but showed an improvement in gross margins, with more progress expected later this year. Despite a 144% YoY increase in vehicle deliveries, lower average selling prices impacted total revenues, marking the second top line miss in three quarters. Nio's Q3 guidance included record deliveries and revenue expectations slightly above Street estimates, with ambitious long-term operational targets for both the Nio and Onvo brands.

Nio's deliveries and margins finally rose again in the second quarter. It expects to maintain that momentum in the second half of the year.