Deutsche Bank expects NIO to deliver 11,902 vehicles in June

Written by Cláudio Afonso | | LinkedIn | Twitter

The electric vehicle maker NIO will report its Q1 2022 Earnings Results on Thursday, June 9, before the U.S. Market opening. In a new note, Deutsche Bank analyst Edison Yu disclosed its expectations for the financial results. After the Shanghai opening up last week, the analyst forecasts that the company will deliver 24,000 units in Q2 2022, down 6.9% from the first quarter of 2021.

Considering that NIO delivered 5,074 units in April and 7,024 in May, the analyst is expecting 11,902 vehicles in June amid the end of lockdown rules in China. Nearly 12,000 vehicles delivered in June would represent a month-over-month increase of 69.4% and 47.2% more when compared to June 2021.

Yu sees the outlook for the second quarter and an update on the supply chain as the main themes to focus on June 9: “We expect a mostly in-line quarter with investor attention to be focused on the 2Q outlook (we forecast 24,000 deliveries) and commentary around the supply chain post Covid lock downs,” the analyst said. “With Shanghai opening up last week, we think NIO can finally get back on track with its product super cycle this year,” he added.

Earlier this week, NIO surpassed the U.S.-based Lucid Motors in Market cap becoming the third biggest EV maker after Tesla and BYD. On Monday, NIO stock opened higher at $18.99 and immediately saw buy pressure gapping up to a new 6-weeks high of $19.80 resulting in a Market Cap value of $31.482 billion. In parallel, Lucid stock went down to $18.80 per share which, considering the 1.67 billion shares outstanding, results in a market cap value of $31.412 billion.

NIO will hold a conference to officially launch the new SUV model NIO ES7 on June 15, at 20:00 in Shanghai timezone. The company will start receiving reservations on the evening of the conference and the orders will start to be locked in July with the first deliveries expected as soon as the end of August.

Written by Cláudio Afonso | | LinkedIn | Twitter