Chinese EV maker Nio cuts Q1 deliveries forecast-March 2024-www.financetom.com

Chinese EV maker Nio cuts Q1 deliveries forecast

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Chinese EV maker Nio cuts Q1 deliveries forecast

Mar 27, 2024 2:59 AM

(Reuters) - Chinese electric-vehicle maker Nio lowered its forecast for first-quarter deliveries on Wednesday, as it grapples with slowing demand and a price war in China.

The company expects to deliver around 30,000 vehicles in the first quarter, compared with its prior forecast of 31,000 to 33,000.

Its U.S.-listed shares fell around 3% in premarket trading.

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