November 2, 2021: -Nio’s deliveries of cars to customers in October decreased as supply chain issues, and changes to its manufacturing lines impacted the Chinese electric vehicle maker.
The New York-listed shares of the company decreased 4% in pre-market trade on Monday.
Nio said it was delivering 3,667 vehicles in October, down over 65% from September.
The company said deliveries were “significantly impacted by a reduction in production volume due to the restructuring and upgrades of manufacturing lines and the preparation of the products.”
Nio also blamed ’supply chain volatilities” for the fall in October Delivery services.
It released its sedan, the ET7, in January and planned to begin deliveries of that car in the coming year.
Nio has been impacted by the global semiconductor shortage in the last few months, which has hit automakers. Despite this, Nio said its orders reached another all-time high in October due to “increasing user demand.”
It comes as the company’s rivals much better in October on deliveries.
Guangzhou-based Xpeng Inc said it delivered over 10,000 cars for the second consecutive month in October, a 2.6% month-on-month decrease.
Li Auto said deliveries of October its Li ONE sports utility vehicle totaled 7,649, a near 8% month-on-month increase. Li Auto was the company of the three to deliver more cars in October than September.
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