Written by Cláudio Afonso | LinkedIn | X
The first days of a new quarter are typically marked by a flurry of sales, delivery, and production reports from automakers. Chinese brands, which consistently release official numbers on the first day of each month, are usually the first to inform the market.
In the U.S., Tesla often leads the pack, typically releasing its quarterly figures on the second day after the quarter ends. It is followed by Ford, General Motors, Rivian, and Lucid over the subsequent days.
In the past four quarters, the truck maker Nikola reported its production and wholesale figures on January 4, 2024, April 4, July 2, and October 2, consistently releasing the data within the first four days following the end of each quarter.
However, Nikola has bucked the trend this quarter. As of the time of writing, on January 8, no data has been disclosed.
Shares of the electric and hydrogen truck maker have plummeted 33% over the past three trading sessions. In the opening minutes of Monday’s trading session, the stock price hit $1.82. Since then, Nikola’s shares have declined approximately 33%, and are trading at $1.22 — as of the time of writing.
The company sold 88 hydrogen fuel cell electric trucks in the third quarter of 2024, up 22 percent from the 72 units registered between April and June. For the first three quarters of the year, Nikola sold 200 hydrogen fuel cell trucks, and 235 total since the truck went on sale in late 2023.
As reported earlier this Wednesday, the company’s head of global sales Ryan Clayton said Nikola is looking forward to a “really good” year producing and delivering both hydrogen-powered and battery electric trucks.
In mid-November, the company announced a recall of 72 of its 2022-2023 battery electric (BEV) trucks due to a defect in the instrument cluster display. The trucks had been recently re-delivered to the customers following the biggest recall which forced Nikola to fix all units delivered until then.
The Biden administration released final rules last Friday outlining tax credits for clean hydrogen energy under the Inflation Reduction Act (IRA), raising the share price of industry players like Nikola, but also Plug Power and Constellation.
Written by Cláudio Afonso | LinkedIn | X
