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Niu Technologies Provides First Quarter 2024 Sales Volume Update By Investing.com

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BEIJING, China, April 04, 2024 (GLOBE NEWSWIRE) — Niu Technologies (NASDAQ:, or the Company) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today provides its sales volume results for the first quarter of 2024.

  1Q 2024   1Q 2023   YoY%  
China Market 110,115   81,518   35%  
International Markets 19,024   12,889   48%  
Total 129,139   94,407   37%  

In the first quarter of 2024, NIU sold 129,139 units, with 110,115 units sold in China market and 19,024 units sold in international markets.

In the domestic market, our new products have captured significant mindshare since their launch, collectively accounting for over 50% of the total sales volume in the first quarter. Notably, our premium flagship model NXT contributed 26% to the total domestic sales. This model builds upon and seamlessly integrates the legendary design of our N1 model with modern upgrades and cutting-edge technology. Within just two weeks of its launch, we secured over 10,000 pre-orders, a testament to its robust market reception.

In the international markets, our comprehensive product lineup and significant progress in retail channel expansion have driven our sales volume to 19,024 units. Our products are prominently displayed in key markets such as the US, Germany, France, Spain, and other EU countries, underscoring our expanding global footprint in the electric two-wheeler market.

We expect to regain growth momentum in 2024, propelled by new models and expanding sales channels. Our unwavering confidence in reclaiming growth underscores our commitment to industry leadership.

Our sales volume count disclosed above is based on the delivery from our manufacturing facility, which may vary slightly from the sales volume measured from a financial accounting and reporting point of view. NIU’s sales volume represents only one measure of the company’s financial performance and should not be relied upon as an indicator of quarterly financial results, which depend on a variety of factors, including revenues from accessories, spare parts and services, cost of sales, operating expenses, etc.

About NIU

As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles and kick-scooters. NIU has a diversified product portfolio that caters to the various demands of our users and addresses different urban travel scenarios. Currently, we offer two model lineups, comprising a…

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