This article first appeared on GuruFocus.

Nio (NYSE:NIO) slid about 3% on early Monday after the Chinese electric-vehicle maker reported a slower pace of monthly deliveries, despite strong year-on-year growth.

The company said it delivered 36,275 vehicles in November, down from October's level.

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Even with the monthly drop, volumes were well ahead of last year. Nio said November deliveries were up more than 76% from a year earlier, helped by strong demand across multiple brands.

The total included about 18,400 NIO-brand premium vehicles, nearly 11,800 ONVO models aimed at family buyers, and just over 6,000 FIREFLY vehicles, which target the compact, high-end segment.

For the year to date, Nio has delivered roughly 278,000 vehicles, representing growth of about 46% compared with the same period last year. The company is heading into the final month of the year with another busy delivery period ahead.

Investors appeared focused on the month-on-month slowdown, with some traders watching closely to see whether demand remains steady into year-end.