HomeMarket NewsAn Electrifying Surge: Nio's March Deliveries Charge Ahead with a 14% Increase...

An Electrifying Surge: Nio’s March Deliveries Charge Ahead with a 14% Increase Year Over Year

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NIO Stock - NIO Stock: Nio’s March Deliveries Jumped 14% Year Over Year

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Nio (NYSE:NIO) has investors buzzing as its latest delivery data for March 2024 reveals a 14.3% surge in deliveries year-over-year, with 11,866 vehicles hitting the roads in that month.

Noteworthy in this surge are the impressive sales of NIO’s smart EVs, which include 6,737 premium smart electric SUVs and 5,129 premium smart electric sedans.

The company highlights that its EV deliveries for the first quarter of 2024 total 30,053, pushing the cumulative deliveries to 479,647 EVs as of March 2024.

Nio’s remarkable March performance coincides with the rollout of its 2024 line of EVs, featuring the ES8, ES6, EC7, EC6, and ET5T, all of which commenced deliveries in March.

Stock Market Reaction to Nio’s Performance

Following this bullish delivery data for March, NIO stock saw a 2% uptick on Monday morning, with approximately 23.5 million shares changing hands. While this is below the daily average trading volume of about 58.4 million shares, it reflects the keen interest among investors in Nio’s upward trajectory.

For more on market movements, there’s a whirlwind of activity to catch up on with stocks like Bloom Energy (NYSE:BE), Trump Media & Technology Group (NASDAQ:DJT), and AMC Entertainment (NYSE:AMC) stirring the pot today.

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As of the publication date, William White has no positions in the securities mentioned, directly or indirectly. The opinions expressed here are the writer’s personal views, adhering to the InvestorPlace.com Publishing Guidelines.

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