Chinese e-scooter company NIU provides Q1 2022 sales volume update
Beijing-based NIU Technologies has provided its sales volume results for the first quarter 2022.
In the first quarter of 2022, NIU sold 163,659 units, including e-motorcycles, e-mopeds, e-bicycles and kick-scooters and e-bikes, representing a 9.4% year-over-year growth. The number of units sold in China market was 148,987, an increase of 3.0% from the corresponding period in 2021. The number of units sold in the international markets was 14,672, representing an increase of 193.7% year-over-year. The sales volume is compared on a year-over-year basis instead of on a quarter-over-quarter basis due to strong seasonality in the e-scooter market.
The growth of units sold in China market varied month to month in the first quarter, mainly due to recent COVID outbreak starting from mid-February. Combined sales volume in January and February recorded a robust 91.6% year-over-year increase. However, the supply chain shortage and logistic disruption caused by the recent COVID outbreaks, especially in Yangtze River Delta area, has impacted the sales volume in March 2022, which decreased by 24.1% year-over-year.
In addition, NIU temporarily suspended production activity at its manufacturing facilities in Changzhou for six days in March 2022 as part of the COVID control measures, and manufacturing facilities have since been operating much below full capacity. Despite the impact of COVID outbreaks, NIU recorded positive year-over-year growth of units sold in China market in the first quarter.
The growth in the international markets was mainly driven by continued strong demand for kick-scooters since its launch in the second half of 2021. As of March 31, 2022, the cumulative sales volume of kick-scooters and e-motorcycles/e-mopeds reached 9,833 units and 4,839 units, respectively.
