NIO October delivery numbers have arrived – the stock is up

NIO Inc. (NYSE:NIO) reported its latest delivery numbers for October on Tuesday.

The Chinese electric vehicle company delivered 10,059 cars last month – up by 174.3% year-over-year.

The deliveries in October consisted of:

• 5,979 premium smart electric SUV’s
• 4,080 premium smart electric sedans

Production and deliveries were impacted by supply chain issues and other constraints caused by COVID-19 outbreaks in certain parts of China, according to the company.

NIO has delivered a total of 259,563 electric vehicles as of October 31, 2022.

The stock made some gains on Tuesday, up by around 2% at $9.93 a share.

Shares of NIO have plummeted by over 75% in the past year.

Stock performance

• 1 month: -40.68%
• 3 month: -50.82%
• Year-to-date: -68.67%
• 1 year: -75.97%

NIO price targets

• Morgan Stanley: $31
• HSBC: $28
• Goldman Sachs: $56
• Barclays: $34
• Mizuho: $42
• Citigroup: $31.3
• B of A Securities: $26
• UBS: $32
• Barclays: $19

NIO is the 22^nd largest automaker in the world with a market cap of $16.56 billion.

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Sources: NIO Inc., TardingView, Benzinga, CompaniesMarketCap