Zhi Tong Cai Jing·2025-11-11 08:02Core Insights - Deutsche Bank reports that NIO-SW (09866) achieved a record high October sales of 40,397 vehicles, representing a year-on-year increase of 93% and a month-on-month increase of 16% [1] - The company's management expects the automotive gross margin for the third quarter to rise from 10.3% to between 13% and 14%, primarily benefiting from operational leverage due to rapid sales growth [1] - The bank maintains a "Buy" rating for NIO, with a target price of HKD 82 [1] Sales Performance - The flagship model ES8 SUV has delivered over 10,000 units within 41 days of its launch [1] - Weekly delivery figures for October are approximately 6,400, 7,300, 10,600, and 10,300 vehicles for the first to fourth weeks, respectively [1] - The monthly delivery figure of around 40,000 vehicles aligns with the actual delivery of 40,397 vehicles [1]