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NIO announced record-breaking deliveries of 21,209 units in June 2024, an increase of 98.1% in year-over-year growth. NIO delivered 57,373 vehicles in Q2 of 2024, an increase of 143.9% in year-over-year growth.

The company previously delivered 30,053 vehicles in Q1 of 2024, combined with Q2 deliveries going up to 87,426 total, Making NIOs all-time cumulative deliveries reach 537,020 as of June 2024.

June is now marked as the most successful month for the brand after surpassing its record-breaking month of May 2024 which was 20,544, increasing by 233.8% year-over-year growth.

Source: NIO

NIO (NYSE: NIO; HKEX: 9866; SGX: NIO) is a leader in electric vehicles and technology, they are leading the way in battery swapping technology, demonstrated by the company's continued successful infrastructure development in Europe, with the brand's strong start to the first half of 2024, this suggests the company is set to have it's most successful year thus far in 2024.

NIO Deliveries of 21,209, consist of 11,581 premium electric SUVs and 9,628 premium electric sedans. The company is expecting revenues of $2.297Bn - $2,373Bn, this could potentially represent an increase of 89% - 95% on year-over-year growth from 2023.

The Company's performance in early 2024 has exceeded many expectations in the electric vehicles space, they are committed and the numbers do not lie, the company has continued to thrive for excellence from only delivering 10,055 in January of 2024 and 8,132 in February to now delivering above 20K units in both May and June, this has shined a light of positive for all observers of this brands.

The question remains "what can they accomplish in 2024, can they surpass the 2023-year record of 160,038 vehicles"?

The company should have no difficulty in surpassing the 200K units delivery mark of 2024, based on its Q1 and Q2 numbers alone deliveries cumulate up to 87,426.

NIO's latest Power Swap Station in Berlin is officially online and is now available to the public for NIO drivers. This is NIOs 16th Power Swap Station in Germany and it's the company's 44th Power Swap Station in Europe.

Source: NIO

NIO has successfully introduced its EL8 SUV to the European market. This new EL8 will establish NIO as a legitimate SUV manufacturer within the European market, the brand has spent years developing its infrastructure within China and has only recently made it to Europe within the last few years only to be met by raising ties but despite this, they continue to develop their infrastructure within Europe and the new EL8 will certainly lead the way.

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The biggest challenges NIO faces going forward are the tariffs being introduced on cars manufactured in China. These tariffs are being introduced by European nations and the US at the moment. It's very difficult to see a clear solution or a path that is simple for NIO to navigate. It is simply a rock and a hard place.

While the company is doing incredibly well with its deliveries throughout 2024 there was a slow start to the year but we at Monument suggested long ago that NIO's mission was to optimise for efficiency which often means improving one's factory and its manufacturing processes, to do this often results in a slowdown in the factories production predominantly either at the end of the year or at the start of for most companies this is the start of the year.

This has been Tesla's secret ability to optimise for efficiency.

We at Monument believe that NIO is currently doing the same thing, optimising for efficiency has a lot of positive effects for one you can cut the cost of manufacturing and you can raise the premium for the cost of your vehicles in fact if you don't believe in raising the price of the vehicles simply by lower the cost you've already had a positive surplus in revenues to be generated.

I have no doubt that this company is incredibly undervalued at a market cap of $9B and we think 2024 will show that NIO is not only undervalued but it's under-appreciated for what they've accomplished thus far, a company that's capable of delivering up to 200,000 vehicles yearly, rapidly expanding its infrastructure into the European region and are highly anticipated to enter the US market next regardless of the tariffs they're still thriving for success in all region and I think this will ultimately mark what the brand truly represents.

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