Chinese electric-vehicle maker NIO (NYSE:NIO) said that its deliveries set a new record in March, helping the company deliver its best quarterly sales total to date despite production downtime related to an ongoing shortage of semiconductors.
NIO delivered 7,257 vehicles to customers in March, breaking its earlier record of 7,225 set in January after a production increase. For the full first quarter, NIO delivered just over 20,000 vehicles, up 16% from the fourth quarter of 2020.
The news was a positive surprise after NIO said last Friday that it would halt production at its manufacturing partner's factory in Hefei, Anhui Province, for five days due to an ongoing global shortage of automotive-grade semiconductors. At the time, NIO said the production halt would reduce its first-quarter deliveries to about 19,500, versus the 20,000 to 20,500 it had previously forecast.
Separately, NIO said that it expects to produce its 100,000th vehicle on April 7, after production resumes next week. Through March, NIO delivered 95,701 vehicles.