Nio stock has slumped sharply this year and is now hovering at its lowest level since April last year. This retreat continued as the company published its October vehicle delivery numbers, which showed that its growth was losing momentum. It has now slumped by 54% from its highest point this year.

Nio stock is falling after its vehicle delivery numbers

Nio, a giant Chinese electric vehicle company, is struggling, with its vehicle delivery numbers falling. In a report released on Sunday, the company said that it delivered 34,246 vehicles in October, much lower than what it sold in the same period last year.

Most of Nio’s deliveries were from its main brand, with Onvo and Firefly selling 8,383 and 7,738, respectively.

These numbers came a…