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Nio Deliveries Nosedive in February Amid Coronavirus Spread

By Ding Yi / Mar 11, 2020 12:46 PM / Business & Tech

Photo: VCG

Photo: VCG

Chinese electric-vehicle company Nio has reported gloomy delivery figures for February, in line with a dramatic nationwide market contraction that came as the deadly Covid-19 epidemic spread across the country.

Last month, Nio shifted just 707 cars — including 671 ES6s and 36 ES8s — representing a year-on-year decline of 12.8%, the automaker announced Tuesday. The figure is also less than half of January’s total of 1,598 vehicles.

Nio attributed the sales drop to the new coronavirus outbreak that has caused factories to close, supply chains to suffer disruptions, and consumers to stay at home across large parts of China.

The company’s founder, chairman, and CEO, William Li, said in a statement that Nio has since leveraged several online sales channels including its own app to achieve “some encouraging order numbers,” but did not give further details.

On Monday, the China Passenger Car Association (CPCA) said China’s new energy car sales plummeted by 77.7% year-on-year to 11,000 units in February thanks to the public health crisis and the earlier-than-usual Lunar New Year holiday.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Nio Strikes Government Deal with New Headquarters and New Funding Plan


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