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This Is the Best Move to Make With NIO Stock in May - Stock Market Latest

Source: Michael Vi / Shutterstock.com

China-based electric vehicle manufacturer Nio (NYSE:NIO) tried to spin its April delivery data as positive. However, NIO stock traders should consider whether the automaker is actually improving in its EV deliveries.

Besides, it’s troublesome that Nio’s management is still not considering making its vehicles more affordable to the public by slashing prices.

In China and elsewhere, Nio has to fend off competition from the likes of automotive giant Tesla (NASDAQ:TSLA). That’s a herculean task, and it requires a flexible approach.

Unfortunately, it appears Nio is doubling down on a questionable strategy. This doesn’t bode well for Nio and its stakeholders, so the month of May could be a rough one.

April Delivery Data Doesn’t Help NIO Stock

Nio typically releases its vehicle delivery numbers after each month. These are highly anticipated data releases. As you may recall, Nio delivered 10,378 vehicles in March. So, how did the automaker fare in April?

While Nio tried to put a positive spin on April’s delivery figures, financial traders should be skeptical. It’s true that Nio’s April EV deliveries increased 31.2% year over year. However, we can now discern a problematic trend: Nio’s 6,658 April deliveries were much lower than the figure for March.

Surely, the investing community noted this. NIO stock declined in the wake of Nio’s press release, so clearly, traders didn’t see a positive trend in the company’s results.

No Price Cuts for Nio

Ask yourself: What do car buyers want during a time of elevated inflation and recession worries? Nowadays, even luxury EV shoppers are focused on price. They want a good car, yes, but they also want it at a reasonable price.

In response to this, Tesla enacted a series of price cuts. Say what you’d like about Tesla, but there’s no denying that the company has responded to customers’ needs and demands.

What about Nio, though? In contrast to Tesla’s flexible approach to vehicle pricing, Nio CEO William Li stated, “For us, we will certainly not join the price war.” Li’s justification is: Nio’s EVs “are superior to the Model 3 and Model Y in terms of design, technology and performance.”

Tesla’s numerous fans would almost certainly disagree with Li’s audacious comparison. Li seems tone-deaf during a time when customers are seeking a good value. He reportedly declared that Tesla’s “price reductions lower the EVs’ residual value. Such actions . . . are simply detrimental to customers.”

So, What’s the Best Move to Make With NIO Stock?

Nio’s investors should insist that the company’s management be more flexible with its pricing strategy. It’s doubtful, however, whether Li would actually consider changing his stance on EV price cuts.

Nio’s spin job shouldn’t convince skeptical traders that Nio’s delivery data is on the right track. Thus, in the final analysis, the best move to make with NIO stock in May is just to steer clear of it.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.

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