- Nio Inc recorded its second-highest monthly deliveries in November, though down from October as its Onvo sub-brand saw a month-on-month drop.
- From January to November, Nio Inc delivered 277,893 vehicles, representing a year-on-year increase of 45.62 percent.
Nio Inc (NYSE: NIO, HKG: 9866) maintained robust delivery volumes last month despite a month-on-month decline, as its sub-brand Onvo saw a sequential drop.
The company delivered 36,275 vehicles in November, its second-highest monthly total on record behind October's 40,397 units, according to data released today.
This represents a 76.31 percent increase from the 20,575 units delivered in the same month last year, but a 10.20 percent decrease compared to October.
The month-on-month decline was primarily driven by Onvo, as both the Nio main brand and Firefly sub-brand saw month-on-month growth.
The Nio main brand delivered 18,393 vehicles in November, marking an 18.72 percent year-on-year increase and a 7.29 percent rise from October.
Onvo delivered 11,794 vehicles in November, a 132.07 percent increase year-on-year but a 31.99 percent decrease from October.
Firefly achieved a record 6,088 deliveries in November, a 2.98 percent increase from October.
Nio founder, chairman, and CEO William Li said during a November 26 briefing with domestic media that China's phase-out of vehicle trade-in subsidies significantly impacted the market.
This development was unforeseen by the industry, leading to a sharp decline in new orders across the sector, Li noted at the time.
He added that all models except the Nio ES8, Firefly, and Nio ET9 were affected.
Nio guided for fourth-quarter deliveries between 120,000 and 125,000 units when it released its third-quarter earnings report on November 25, representing growth of about 65.1 percent to 72.0 percent.
This guidance falls below the 150,000-unit target mentioned during its second-quarter earnings call on September 2, indicating Nio was expecting to deliver a combined 79,603 to 84,603 vehicles in November and December.
January-November performance
From January to November, Nio Inc delivered 277,893 vehicles, representing a year-on-year increase of 45.62 percent.
The Nio main brand delivered 146,909 vehicles during this period, a year-on-year decrease of 18.65 percent.
Onvo delivered 98,654 vehicles during the same period, while Firefly has delivered 32,330 vehicles year-to-date. Onvo commenced deliveries in September 2024, and Firefly began deliveries in April of this year.
As of the end of November, Nio Inc has accumulated total deliveries of 949,457 vehicles since its inception.
