Nio Falls to $4.88 Despite 62.9% June Delivery Jump

Nio shares tumbled to $4.88 in New York, a multi-month low and about 40% below this year’s highs, as investors weighed growth and profitability concerns. The decline occurred during regular trading.

Technical indicators showed the stock fell below its 100-day exponential moving average and broke a head-and-shoulders neckline. The Relative Strength Index continued to weaken.

Nio reported June deliveries rose 62.9% year over year. Second-quarter deliveries reached 107,658, roughly 50% higher than the same quarter last year. June delivery counts included 21,908 vehicles from NIO’s core brand, 11,743 from ONVO and 6,946 from Firefly.

The company reported its WorldModel software has been installed in more than 700,000 vehicles. The ES9 model has exceeded 120,000 cumulative deliveries and recorded 10,000 sales in a 30-day span.

BYD delivered about 1.1 million vehicles in the quarter. XPeng’s June sales were 103,295, roughly unchanged year over year, while Li Auto reported 98,330 deliveries, an 11.5% annual decline.

Nio posted a $48 million loss in the first quarter after reporting a net profit earlier in the year. Gross profit margin rose to 18.8%. Research and development expenses fell about 40% year over year, driven mainly by lower personnel costs, and company disclosures indicate the most capital-intensive phases of vehicle development are largely complete.

The company reported cash and equivalents of about $7 billion, and management expects no need to raise additional funding in the near term.

Market participants flagged broader caution on Chinese electric-vehicle stocks as a factor in the selloff, while delivery growth and improving margins were noted as company-level strengths.