NIO Inc. (NIO) rebounded on Wednesday as the Chinese based electric vehicle manufacturer reported a nearly 60% year-on-year increase in car deliveries in October, but its competitors' growth momentum was even stronger.
The company's stock rebounded 0.4% before the trading session, and its closing price on Tuesday was the lowest since June 29, 2020.
This increase lags behind its electric vehicle competitors, with Li Auto Inc. (LI) up 1.2% and Xpeng Inc. (XPEV) up 3.9%.
NIO stated that 16074 electric vehicles were delivered in October, an increase of 59.8% from 10079 vehicles in the same period last year. The delivery volume includes 11086 electric SUVs and 4988 electric sedans.

NIO Inc. (NIO) rebounded on Wednesday as the Chinese based electric vehicle manufacturer reported a nearly 60% year-on-year increase in car deliveries in October, but its competitors' growth momentum was even stronger.
The company's stock rebounded 0.4% before the trading session, and its closing price on Tuesday was the lowest since June 29, 2020.
This increase lags behind its electric vehicle competitors, with Li Auto Inc. (LI) up 1.2% and Xpeng Inc. (XPEV) up 3.9%.
NIO stated that 16074 electric vehicles were delivered in October, an increase of 59.8% from 10079 vehicles in the same period last year. The delivery volume includes 11086 electric SUVs and 4988 electric sedans.
The company has delivered 126067 electric vehicles so far this year, an increase of 36.3% compared to the same period last year.
Meanwhile, Xiaopeng Motors reported that it delivered 20002 cars in October, a year-on-year increase of 292%.
Ideal Motors announced that its delivery volume reached a record high of 40422 vehicles in October, an increase of 302.1% compared to the same period last year.