Nio's ES8 SUV Sells Out, Driving Record Sales and Bullish Analyst Views
Electric vehicle manufacturer Nio has seen remarkable success with its newly launched premium SUV, the ES8. The first 40,000 units have sold out, with customers facing waiting times of up to 26 weeks and delivery dates stretching into March 2026. This surge in demand comes as Nio's three-brand strategy continues to pay off, with each brand catering to different market segments.
Nio's September sales were boosted by the ES8, with a total of 34,749 vehicles delivered, marking a 64.1% increase year-over-year and a new monthly record. This impressive performance follows a strong third quarter, during which Nio delivered 87,071 vehicles, a 40.8% increase over the previous year's quarter. The company's three-brand strategy, encompassing NIO, ONVO, and FIREFLY, has proven effective in capturing various market segments.
Financial institutions have taken note of Nio's success. In mid-September, UBS upgraded Nio to 'Buy' from 'Neutral', setting a price target of $8.50. Meanwhile, JP Morgan maintains its 'Overweight' rating with a $8.00 target. While some analysts remain bullish, with price predictions for 2025 ranging from about $7.16 to $8.46 per share, the average price target is generally below €7, and the consensus rating is around 'Hold'.
Nio's ES8 has been a resounding success, with all initial units sold out and significant waiting times. The company's three-brand strategy has driven record sales, and while analyst opinions vary, Nio's strong performance in the market is undeniable. As production ramps up to meet demand, the future looks promising for this electric vehicle pioneer.
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