When Tesla said “Deliveries were approximately 63,000 vehicles, which was 110% more than the same quarter last year, but 31% less than last quarter”, NIO wanted to say something similar.
The 2019 Q1 deliveries number was approximately half of that in 2018 Q4. (Still a good job in ramping up production fast)
To compare in numbers:
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- Tesla deliveries is ~15.8x NIO’s in 2019 Q1, ~11.4x in 2018 Q4
- Tesla’s automotive revenue in 2018 Q4 was $6.3 billion vs. NIO $0.5 billion: ~12.6x
- Current valuation 8x ($40bn vs. $5bn)
NIO said ES6 (to start deliveries in June) should have more than 10,000 pre-orders before deliveries.