Chinese EV start-up NIO is set to report second-quarter numbers Tuesday morning amid questions about competition, demand, pricing, and the Chinese economy. A lot more than just bottom-line earnings will be investors’ focus.
The loss from estimated aggregated by FactSet is a little bigger at 41 cents a share. Sales estimates are similar. FactSet is an aggregation of five numbers. Bloomberg is using nine estimates. A big rebound is expected for the third quarter. NIO delivered 20,462 units in July, boosted by sales of the ES6 SUV which have been growing since its introduction in May 2023. July deliveries exceeded 10,000 units in July.
Delivery guidance will tell a story about how NIO is doing. It will also reveal something about EV demand in China. In the first seven months of the year, battery-electric vehicle demand is up about 25% year over year, according to data aggregated by Citi analyst Jeff Chung. Strong, but August sales are set to fall a little year over year.
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