China Pledges to Keep Up Support for Auto Sales, Used-Car Market – NIO Authorities on Thursday also pledged to look at measures to facilitate the trade and circulation of used cars. Overall car ownership levels are still low in China versus developed markets like the US and Australia and the nation does not have a vibrant second-hand market place.
The Chinese market is much cheaper in terms of valuation. From a liquidity perspective, it is the only major economy trying to inject liquidity into its economy. The Chinese market could go into a bull market. NIO was analyzed by 33 analysts. The buy consensus is at 85%. So analysts seem to be very confident. NIO delivered 5,074 vehicles in April 2022. The deliveries consisted of 4,381 premium smart electric SUVs, including 1,251 ES8s, 1,878 ES6s and 1,252 EC6s, and 693 ET7s, the Company’s flagship premium smart electric sedan. As of April 30, 2022, cumulative deliveries reached 197,912 vehicles.
Europe Took A Big Step Toward Banning Gas Cars But the Global Auto Industry Still Has a Long Way To Go The E.U. agreed to effectively ban new gas car sales by 2035, putting pressure on the U.S. and the world’s largest automakers. The ultimate goal is to eliminate all automobile emissions by 2035. IMO this stock could see reach $100 in the long term but with the markets and economies around the World looking at a possible recession I will keep dollar cost averaging.