The company increased sales year-over-year but is not able to keep up with demand.
NIO reports sales of 5,880 electric cars in August (up 48% year-over-year), which is noticeably less than in the past several months.
The Chinese company explains that the semiconductor supply chain constrains manufacturing (especially ES6 and EC6 models).
That’s a big issue as NIO was on the rise and according to the latest update, the order backlog has reached an all-time high in August, driven by the increasing demand.
Sales by model:
- ES6 (5-seat SUV): 2,342 (down 18% year-over-year)
- EC6 coupe version of the ES6: 1,800 (new)
- ES8 (7- or 6-seat SUV): 1,738 (up 55%)
- Total: 5,880 – (up 48% year-over-year)
NIO sales in China – August 2021
So far this year, NIO sold over 55,000 electric cars in China.
- ES6: 24,034
- EC6: 19,344
- ES8: 12,389
- Total: 55,767 (up 157% year-over-year)
Cumulatively, NIO sold 131,408 electric cars and over 77,800 fall on the most recent 12 months.
Because of the manufacturing constraints, NIO is forced to lower its sales forecast for the third quarter:
“In light of the continued uncertainty and volatility of semiconductor supply, the Company prudently adjusts the vehicle production and expects to deliver approximately 22,500 to 23,500 vehicles in the third quarter of 2021, revised from the previous outlook of 23,000 to 25,000 vehicles.”
Well, the year 2021 is clearly the best ever for the NIO. There are not many reasons to complain, however, the company has to focus on the supply chain issues now to unlock its full potential.
It’s very important for NIO to increase the volume beyond 10,000 units a month as soon as possible, especially since it’s the only way to become profitable someday.
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