Why Nio Stock Crashed Today

Someone posted that Nio with it's growing battery swapping will surpass Tesla this year. Nio's share price fell by 9.4% today prior to XPeng Q1 2023 earnings below expectation announcement.

Tesla's price cutting market strategy is working as market share of it's rivals are falling. The gap between the 2 companies has widen.

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It was what Chinese peer XPeng said when it reported its first-quarter earnings today. XPeng warned investors that it sees relatively flat sequential sales for the remainder of the second quarter. That implies the company is losing market share, and Nio could be in a similar position.

And Nio has also seen a downward trend in monthly vehicle deliveries since they peaked at a record of nearly 16,000 in December 2022. Nio reported April 2023 deliveries of just 6,658 units.

Based on its recent sales results and today's disappointing projection from XPeng, it's likely that growing market share is going to the larger EV makers like Tesla and BYD.

Source:

Why Nio Stock Crashed Today | The Motley Fool

$BYD COMPANY(01211.HK)$ $BYD Co.(BYDDF.US)$ $S&P 500 Index(.SPX.US)$ $Nasdaq Composite Index(.IXIC.US)$ $Tesla(TSLA.US)$ $VOLKSWAGEN A G(VWAGY.US)$ $NIO Inc(NIO.US)$ $Li Auto(LI.US)$ $XPeng(XPEV.US)$ $General Motors(GM.US)$ $Ford Motor(F.US)$ $Rivian Automotive(RIVN.US)$

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ZnWC

I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.

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