NIO Inc (NYSE: NIO) shares are buying and selling decrease Monday morning following stories indicating complete automobile gross sales in China had been considerably decrease month-over-month.
In accordance with a Reuters report, complete automobile gross sales in China fell 11.7% in March after growing 18.7% in February as lockdown measures in response to a COVID-19 surge prevented individuals from looking for vehicles at a traditional fee.
Nio operates in China’s premium electrical automobile market. The corporate designs, collectively manufactures and sells sensible and linked premium electrical autos, driving improvements in next-generation applied sciences in connectivity, autonomous driving and synthetic intelligence.
See Additionally: Nio to Hike Automobile Costs Starting Could 10: Right here Are The Particulars
NIO Worth Motion: Nio has traded between $13.01 and $55.13 over a 52-week interval.
In accordance with information from Benzinga Professional, the inventory was down 9.7% at $18.06 at time of publication.
Picture: courtesy of Nio.
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