NIU Q2 2022 sales volume update shows the impact of local lockdown on company’s growth, while international sales quadrupled.
Niu Technologies, a global leader in electric Scooters and light vehicles, released its sales volume results for the second quarter 2022. After a period of lockdowns in China, the company’s growth in local market was definitely impacted, while internationally NIU continues to grow rapidly, with 309% increase.
| 2Q 2022 | 2Q 2021 | 1H 2022 | 1H 2021 | ||||
| China Market | 180,299 | 246,018 | 329,286 | 390,672 | |||
| International Markets | 28,558 | 6,980 | 43,230 | 11,975 | |||
| Total | 208,857 | 252,998 | 372,516 | 402,647 |
In Q2 of 2022, NIU sold 208,857 vehicle units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters and e-bikes, with a 17.4% y-o-y decline. The number of units sold locally in China was 180,299, a decrease of 26.7% from the corresponding quarter in 2021. The number of units sold in the international markets was 28,558, showing a growth of 309.1% y-o-y.
Despite the headwinds, NIU plans to launch a series of previously postponed new models and updated their current line of products in the coming quarters.
The solid growth for NIU in international markets was fueled by strong sales of the company’s new kick-scooters, which reached a record high of 20,868 units sold since its debut last year. The electric kick-scooter products were well received by customers and were featured in the Amazon Electric Bicycles best seller list since April 2022.
NIU will commence delivery of several new kick-scooter models and the additional first model of their BQi e-bike in the second half of this year. These new products are meant solidify NIU’s line of offering and satisfy various user demands for commuting and travelling.
CHECK OUT THE FULL NIU LINE UP IN THIS ARTICLE
Source: NIU
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