Niu Technologies Revs Up Sales with Impressive Q4 Results
The electric vehicle manufacturer, Niu Technologies (NASDAQ:NIU), is off to a strong start on Monday, with shares surging in premarket trading. This comes on the heels of the company’s announcement of its sales volume results for the fourth quarter and full year 2024.
A Record-Breaking Quarter
In the fourth quarter, Niu Technologies sold a staggering 226,634 units, comprising a range of electric vehicles, including e-motorcycles, e-mopeds, e-bikes, kick-scooters, and e-bikes. The Chinese market accounted for the majority of these sales, with 182,333 units sold, while international markets saw 44,301 units sold.
Full-Year Sales Reach New Heights
For the full year 2024, the company’s sales volume reached an impressive 924,340 units, with 759,094 units sold in China and 165,246 units sold in international markets. This represents a significant 65% year-over-year growth in the quarter, driven by the successful launch of new models and the fulfillment of third-quarter backlog orders.
New Models Spark Growth
The newly launched models, designed to appeal to diverse consumer segments, made up over 70% of the quarterly sales. This strategic move has clearly paid off, with the company’s micro-mobility segment experiencing a remarkable 65% year-over-year growth in the fourth quarter and a 57% increase for the full year.
Direct-to-Consumer Sales Platform Launched
Last week, Niu Technologies took another significant step forward with the launch of its nationwide direct-to-consumer (D2C) sales platform for its off-road and on-road dirt bikes, the XQi3 Wild and XQi3 Street.
Shares Soar
As a result of these impressive sales figures, NIU shares are up 6.21% at $1.88 premarket, signaling a strong start to the week.
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