Sometimes a headline number tells investors annoyingly little about what's happening under the hood. Nio (NYSE: NIO), an expanding Chinese electric vehicle (EV) maker, offers investors an example. The EV maker increased September deliveries 7.7% year over year to 37,408 vehicles. Look closer, however, and its namesake premium brand increased deliveries 55.3% during that same month. So what's holding the company back from larger overall gains? The answer is Onvo, one of Nio's two sub-brands, for which deliveries reversed sharply. But this isn't a story about a brand struggling throughout the year. It's about strong growth giving way to a recent loss of momentum. Can management turn that around? Onvo L90. Image source: Nio.
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