{"id":1268488,"date":"2023-08-29T13:50:22","date_gmt":"2023-08-29T12:50:22","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/chinese-ev-maker-nio-expects-sales-boom-in-third-quarter-as-demand-rebounds-south-china-morning-post\/"},"modified":"2023-08-29T13:50:22","modified_gmt":"2023-08-29T12:50:22","slug":"chinese-ev-maker-nio-expects-sales-boom-in-third-quarter-as-demand-rebounds-south-china-morning-post","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/chinese-ev-maker-nio-expects-sales-boom-in-third-quarter-as-demand-rebounds-south-china-morning-post\/","title":{"rendered":"Chinese EV maker Nio expects sales boom in third quarter as demand rebounds &#8211; South China Morning Post"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"\">\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1xdhyk6 e37ybvo0\">But <a class=\"e1gqgo070 e1s1ou6f1 css-n5kuqw ef1hf1w0\" href=\"https:\/\/www.scmp.com\/business\/china-business\/article\/3215086\/chinese-ev-maker-nio-aims-woo-more-buyers-1000-new-battery-swap-stations-it-prepares-launch-budget?module=inline&amp;pgtype=article\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\"><span data-qa=\"Component-Text\" class=\"css-0 e1s1ou6f0\"> <!-- -->Nio has bounced back<\/span><\/a> since June, when the price competition among premium EV makers came to an end, unleashing a wave of demand from customers who had sat out the bargains bonanza in the hopes that steeper discounts were on the way.<\/div>\n<div class=\"methode-html-wrapper oembed-wrapper e1ncv3s10 css-1llrc1m e1wifprr0\" data-qa=\"Component-renderMap-StyledDiv\">\n<div class=\" e1gatl3k0 css-16886w9 e132il0u0\" data-qa=\"Component-SCMPYoutubeVideoContainer\">\n<div data-qa=\"SCMPYoutubeVideoPreview-PreviewContainer\" class=\"css-1bv0tuz eaw92su7\"><img decoding=\"async\" data-qa=\"BaseImage-handleRenderImage-StyledImage\" class=\"eaw92su8 css-1beh2bb em4672x0\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/08\/Chinese-EV-maker-Nio-expects-sales-boom-in-third-quarter.jpg\"\/><\/p>\n<div data-qa=\"SCMPYoutubeVideoPreview-PreviewContentContainer\" class=\"css-1xvf7af eaw92su6\">\n<div data-qa=\"SCMPYoutubeVideoPreview-PreviewContentFloatContainer\" class=\"css-n8rr8l eaw92su3\">\n<div data-qa=\"SCMPYoutubeVideoPreview-PreviewContentDataContainer\" class=\"css-1akwka eaw92su0\">\n<p data-qa=\"SCMPYoutubeVideoPreview-PreviewDuration\" class=\"css-dkee4u eaw92su1\">01:59<\/p>\n<p data-qa=\"SCMPYoutubeVideoPreview-PreviewTitle\" class=\"css-1ajvbe4 eaw92su2\">Sri Lanka is electrifying its fleet of tuk-tuks nationwide with the help of the UN<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"e132il0u1 css-n8zt3b e473b3v0\" data-qa=\"SCMPYouTubeVideoFooter-VideoTitleContainer\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"14\" height=\"19\" viewbox=\"0 0 14 9\" data-qa=\"SCMPYouTubeVideoFooter-StyledVideoRecorder\" class=\"css-1ckj6g e473b3v1\"><path d=\"M10.889 3.375V.75c0-.412-.35-.75-.778-.75H.778C.35 0 0 .338 0 .75v7.5c0 .412.35.75.778.75h9.333c.428 0 .778-.338.778-.75V5.625l3.111 3V.375l-3.111 3z\" fill=\"#6f6f6f\"\/><\/svg><\/p>\n<p>Sri Lanka is electrifying its fleet of tuk-tuks nationwide with the help of the UN<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">In July alone, the carmaker handed over the keys to 20,462 vehicles, roughly double the number a year ago.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">Nio\u2019s chairman and chief executive, William Li, said the strong July sales showed the company had gained a top position in the 300,000 yuan-plus price segment of China\u2019s EV industry.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">The carmaker predicted its revenue in the third quarter would reach 18.9 billion yuan to 19.5 billion yuan, up by as much as a half from the same period of 2022 and more than double the amount in the second quarter.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">Nio is the last of the three Chinese electric-car makers seen as the biggest threat to Tesla to make a bullish forecast for the coming months.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">On August 8, Beijing -based Li Auto said its deliveries between July and September should reach 100,000 to 103,000 units, up by 15.6 to 19 per cent from the previous quarter.<\/p>\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1xdhyk6 e37ybvo0\">Ten days later, <a class=\"e1gqgo070 e1s1ou6f1 css-n5kuqw ef1hf1w0\" href=\"https:\/\/www.scmp.com\/business\/china-business\/article\/3229066\/xpeng-gets-volkswagens-us700-million-investment-jointly-develop-evs-worlds-largest-vehicle-market?module=inline&amp;pgtype=article\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\"><span data-qa=\"Component-Text\" class=\"css-0 e1s1ou6f0\"> <!-- -->Guangzhou-headquartered Xpeng<\/span><\/a> predicted it would deliver 39,000 to 41,000 electric cars to mainland customers in the same span, up by 68 to 76.7 per cent from the previous quarter.<\/div>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">The Chinese EV trio design and manufacture electric cars that feature high-performance battery systems, preliminary autonomous driving technology and sophisticated digital cockpits.<\/p>\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1xdhyk6 e37ybvo0\">\u201cThey are set to benefit from a market recovery since millions of Chinese young motorists are now fans of battery-powered cars,\u201d said Zhao Zhen, a sales director with Shanghai-based dealer Wan Zhuo Auto. \u201cCompetition among Chinese premium EV makers and <a class=\"e1gqgo070 e1s1ou6f1 css-n5kuqw ef1hf1w0\" href=\"https:\/\/www.scmp.com\/business\/china-business\/article\/3231003\/tesla-cuts-model-y-prices-first-time-seven-months-chinese-rivals-li-auto-xpeng-and-nio-post-rapid?module=inline&amp;pgtype=article\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\"><span data-qa=\"Component-Text\" class=\"css-0 e1s1ou6f0\"> <!-- -->Tesla<\/span><\/a> will be interesting to watch now that demand for cars built by the three domestic start-ups is rising fast.\u201d<\/div>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">On August 14, Tesla slashed the prices of its Shanghai-made Model Y vehicles by 4 per cent, its first reduction in seven months, as the US carmaker sought to keep its Chinese rivals at bay.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">The prices of the Long Range and Performance editions of the Model Y are now at their lowest in China since Tesla began assembling the SUV at the Gigafactory 3 in Shanghai at the start of 2021.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e1cmel8x0 css-1c6uqr6 e37ybvo1\">EV sales in China may rise 55 per cent this year to 8.8 million units, UBS \u00adanalyst Paul Gong forecast in April.<\/p>\n<\/div>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     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[&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1268491,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1268488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-autos"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chinese EV maker Nio expects sales boom in third quarter as demand rebounds - South China Morning Post - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/amp.scmp.com\/business\/china-business\/article\/3232728\/chinese-ev-maker-nio-forecasts-sales-boom-third-quarter-demand-smart-battery-powered-cars-recovers\" \/>\n<meta property=\"og:locale\" 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