Nio stock posted its best week in four months, rising 9% on July deliveries of 35,934 vehicles, with Morningstar and Goldman Sachs valuing the Chinese electric vehicle maker higher.
Key Points:
- July deliveries reached 35,934 vehicles, up 71% from a year earlier but down 11.5% from June.
- Morningstar values Nio's Hong Kong shares at HK$50, well above their HK$38.82 close on Friday.
- Shares still ended July down 4%, marking a third consecutive monthly decline.
Nio Deliveries Fuel Best Week Since March
The company released the July figures on Aug. 1, and all three of its brands came in below June levels despite the yearly gain. Core Nio vehicles accounted for 20,008 units, family-focused Onvo for 10,155 and small-car line Firefly for 5,771. The month-on-month drop of 11.5% was the first sequential decline in three months.
Year-to-date deliveries climbed nearly 68% to 227,057 vehicles, keeping the company ahead of the 40% to 50% full-year growth target set by founder and chief executive William Li. Cumulative deliveries reached 1,224,649 vehicles as of Jul. 31, a total built up since Nio began selling cars in 2018.
Shares closed at $4.88 on Friday and capped a 9% weekly gain. The stock nonetheless finished July down 4%, its third straight monthly decline. Rival XPeng shipped 38,027 vehicles last month, while Li Auto delivered 30,468, slightly fewer than a year earlier and a reminder of how quickly Nio is now growing.
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Morningstar Sees Nio Shares Undervalued
Morningstar values Nio's Hong Kong listed shares at HK$50, well above their close of HK$38.82 on Friday, and expects 2027 to be the company's first profitable year. The firm sees annual deliveries reaching 670,000 by 2030, up from roughly 326,000 in 2025, but attaches a "Very High" uncertainty rating and says Nio has yet to build a durable competitive advantage.
Goldman Sachs upgraded the shares to buy on Jul. 13 with a $7 target, and the average analyst forecast now stands at $6.90. Even after last week's advance, the stock sits below its 50-day simple moving average of $5.09 and a 200-day line at $5.51. RSI hovers near 50, a reading that points to balanced buying and selling rather than a confirmed trend.
Nio Premium Pricing Meets Rising ES8 Costs
The core Nio brand's average transaction price reached 434,600 yuan, or about $64,010, in July, and the ES8 large SUV supplied 10,286 of those deliveries, just over half the brand's volume.
Li said on Jul. 10 that higher raw material prices had added nearly 20,000 yuan to the cost of each ES8, and that suppliers were helping absorb part of it.
Nio shares have gone almost nowhere over the past year, up 0.2%, a flat stretch that has outlasted several rallies. A sharp advance in March followed the company's first quarterly profit, but three consecutive monthly declines through July gave back much of that ground. Last week's bounce narrowed the gap to the 200-day average without closing it.
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