- Nio Inc's deliveries in January were up 37.87 percent year-on-year, but down 55.48 percent from December.
- The Nio main brand delivered 7,951 units in January and Onvo brand 5,912 units.
Nio's (NYSE: NIO) deliveries fell last month from December, as both the Nio main brand and sub-brand Onvo weakened as China celebrated the New Year holiday.
Nio Inc delivered 13,863 vehicles in January, up 37.87 percent from 10,055 in the same month last year, but down 55.48 percent from 31,138 in December, according to data it released today.
The Nio main brand delivered 7,951 vehicles in January, down 20.92 percent from 10,055 in the same month last year and down 61.42 percent from 20,610 in December.
The Onvo sub-brand delivered 5,912 units in January, down 43.84 percent from 10,528 in December.
To date, Nio Inc has delivered a total of 685,427 vehicles, including 658,754 units under the Nio main brand and 26,673 units under Onvo, according to data compiled by CnEVPost.
In the Chinese auto market, the beginning of the year, especially the month in which the Chinese New Year holiday falls, is usually the low point for deliveries, while the end of the year is usually the high point.
This year, the Chinese New Year holiday is from January 28 to February 4.
Onvo launched its first model, the L60 SUV (sport utility vehicle), on September 19, 2024, and deliveries began on September 28.
In what may be a response to the seasonal weakness at the beginning of the year, Nio announced earlier today that customers who pay a deposit on a Nio-branded model between February 1-28 can take advantage of a five-year zero-percent interest financing program.
The Nio brand has joined Tesla (NASDAQ: TSLA) in beginning to offer this financing program, which is a step up from the incentive announced last month.
In January, Nio Inc offered a three-year zero-interest financing program for customers buying a Nio-branded or sub-branded Onvo model.
Nio's major local peers announced mixed January delivery figures earlier today.
Li Auto (NASDAQ: LI) delivered 29,927 vehicles in January, down 48.85 percent from 58,513 in December and down 3.97 percent from 31,165 in the same month last year.
Xpeng (NYSE: XPEV) delivered 30,350 vehicles in January, down 17.29 percent from 36,695 in December, while up 267.88 percent from 8,250 a year ago.
Leapmotor delivered 25,170 vehicles in January, down 40.8percent from 42,517 in December while up 105.02 percent from 18,618 a year ago.
Nio ramps up car purchase incentives, launches 5-year 0-interest financing