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NIO Hits Another Monthly Sales Record as China EV Sales Surge

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Consumers in China continue to take a shine to electric vehicles, particularly those made by Shanghai-based NIO  (NIO) - Get NIO Inc. (China) Report.

The quasi Tesla  (TSLA) - Get Tesla Inc Report competitor on Tuesday said it hit a new monthly record for deliveries of its electric vehicles in November, delivering 5,291 vehicles last month, up from 5,055 vehicles in October and more than double what it sold last November.

The deliveries consisted of 1,387 ES8s, the company's six-seater and seven-seater smart electric SUV; 2,386 ES6s, the company's five-seater smart electric SUV; and 1,518 EC6s, the company's five-seater premium electric coupe SUV. Year over year, deliveries have risen more than 109%, NIO said.

Demand for NIO's all-electric SUVs continue to attract buyers in China, a sign that Chinese consumers are not only back to spending on big-ticket items like cars following the coronavirus pandemic but that the Chinese economy is also on a recovery path. 

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