Sales Are Rebounding for Chinese Electric Automaker NIO, But It's Still in Deep Trouble
Chinese electric automaker NIO (NYSE: NIO) said that it delivered 2,019 vehicles in September, up 14.3% from a year ago and up 3.9% from August, continuing its sales rebound in the wake of a tough second quarter.
That was encouraging news for NIO, which is believed to be running dangerously low on cash. But the company still has a lot of work to do if it's going to convince investors that all is well.
Boosted by that strong September result, NIO hit a total of 4,799 vehicles delivered in the third quarter. That was 35% higher than the second quarter, up 48% from Q3 2018, and ahead of its own guidance.
Source Fool.com
