Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
NIO (NYSE: NIO) reported its July 2021 delivery results this morning, and despite a solid year-over-year gain, deliveries declined month on month, falling behind rival XPeng (NYSE: XPEV).
The Chinese electric vehicle firm delivered 7,931 vehicles in July, representing a 124.5% rise from July 2020 but falling below the 8,083 vehicles delivered in June.
The deliveries consisted of 1,702 ES8s, 3,669 ES6s, and 2,560 EC6s. Cumulative deliveries of the ES8, ES6, and EC6 reached 125,528 vehicles at the end of July.
The company previously warned that the semiconductor shortage would impact production output.
Earlier this morning, NIO's rival, XPeng, reported that its deliveries for July climbed to 8,040 vehicles, a 22% increase compared to June.
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