Nio’s 2023 sales target looks ever more distant

Nio Motors, the new energy vehicle (NEV) challenger listed in New York, Hong Kong and Singapore, may retain ambitions to double its 2022 sales in 2023. But it is rapidly reaching the stage where it needs to hit the 30,000 units/month sales it hopes to achieve with a full portfolio every month for the rest of the year to meet its aim.

And that appears to be a significant stretch, given that May’s sales fell back slightly from April to just over 6,000 units. Far from offering 100pc year-on-year growth, 2023’s fifth month saw its lead over last year fall back to under 16pc (see Fig.1).