US Depository Shares of Nio Inc. NIO,
More than 16% recovered on Thursday after the Shanghai-based electric car maker reported that second-quarter and June sales exceeded its forecast. Nio said it delivered 3,740 vehicles in June, a 179% increase year-over-year, including 2,476 of ES6, Nio’s small SUV and its most popular vehicle. The company sold 10,331 vehicles in the second quarter, an increase of 191% over the prior year period. As of June 30, Nio has delivered a total of 46,082 vehicles, with 14,169 delivered in 2020. A close around current levels would be Nio’s highest since March 2019 and a fourth consecutive session of earnings for ADRs. Shares have gained 130% for the year, in contrast to losses of approximately 3% and 9% for the S&P 500 SPX index,
and the Dow Jones Industrial Average DJIA,
Early Thursday, Tesla Inc. TSLA,
reported outstanding quarterly production and delivery figures, relying primarily on the American company’s new Shanghai factory.
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