Why NIO's May Deliveries Decline Isn't (Too) Worrisome
Chinese electric-vehicle (EV) maker NIO (NYSE: NIO) said that its deliveries fell 5.5% sequentially in May to 6,711 vehicles, after its manufacturing was disrupted for several days due to tight supplies of semiconductors.
NIO, like many other automakers, has been forced to reduce production in recent months due to a global shortage of semiconductors, a result of increased demand for computers and other personal electronics amid the COVID-19 lockdowns last year.
But the company said it still expects to deliver on its upbeat second-quarter guidance.
Source Fool.com
