(NIU) Global sales of NIU Technologies e-scooters were 397,079 in the third quarter, up 58.3% from the comparable quarter of 2020. Sales rose by a lower 56.9% in the second quarter.
China led NIU’s e-scooter sales, with 59.9% year-over-year growth to 392,112 in the third quarter. The Chinese sales were fueled by NIU’s retail network expansion, with 320 new stores added in Q3 and product promotions.
International sales were only 4,967, a slump of 11.2% year over year. The fall in international sales reflected devastation caused by Covid-19 and ocean freight shipping difficulties.
About 40.6% of the sales volume in Q3 came from NIU’s units G0, F0, and C0, which had lower sales price and gross margin.
NIU: NASDAQ is up +3.94% on premarket.
