McD tracks new vehicles registrations across the World (over 85 countries), reporting data on calendar year. When you wish to compare data reported by us to those declared by the manufacturers, consider they usually report their “sales” (vehicles invoiced), which are usually different from “registrations”, accordingly with their fiscal year split.
Following a rapid growth ended with the 2021 record sales above the 1 million milestone (+70.4%), which allowed to temporary join the Top 10 manufacturers rank in the World, starting from the first quarter 2022 the Niu Technology performance progressively deteriorated and sales declined both in 2022 and 2023, missing all plans and milestones. Electric Buggy Adult
The 2022 performance was caused by the effects of Zero-covid strategy pursued by the Chinese Government until December, hitting all Chinese manufacturers, with the start ups (like Niu) suffering more than the consolidated brands.
Global Niu e-scooter sales (we do not count kick scooter and e-bicycles) in 2022 have been 736.957 (-27.3%) and in 2023 sales further declined at 610.003 (-17.0%).
It seems that the company shifted the focus from scooter to kick scooter, impacting the distribution network and the corporate profit, without been able to get additional sales.
Electric Bicycle Fat Tire While starting the 2024 the company had fixed a target to be back at 1 million sales (including kick scooters) the final results was very far from it and global sales ended with 767.000 sales (+25.9%). By itself, the performance was not bad, even considering that the EV market declined both in China and in the World.