Chinese luxury electric vehicle maker Nio stock published its delivery numbers for August, indicating that it sold a total of 19,329 EVs for the month, marking an increase of 81% year-over-year, although this was slightly below the July number. The numbers were in line with the company’s guidance of 18,300 to 19,000 vehicles each month of the quarter. Nio’s performance was considerably better than rival Xpeng, which delivered 13,690 vehicles in August. However, Nio continued to lag behind rival Li Auto which delivered 34,914 vehicles for the month, driven by robust sales of its EVs which combine a gasoline engine for range extension. While uptake for Nio’s vehicles was sluggish in early 2023, amid mounting competition from EV bellwether Tesla
TSLA
Interestingly, NIO has had a Sharpe Ratio of 0.5 since early 2017, lower than 0.6 for the S&P 500 Index over the same period. This also falls short of the Sharpe of 1.3 for the Trefis Reinforced Value portfolio. Sharpe is a measure of return per unit of risk, and high-performance portfolios can provide the best of both worlds.
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