Shanghai-based Nio Group announced on Wednesday that it delivered 83,465 vehicles in the first quarter of 2026, exceeding its official guidance by nearly 500 units.
The figures represent a 98.6% increase compared to the same quarter a year ago.
The quarter over quarter comparison shows the typical slowdown in vehicle sales in the first quarter of each year, after the typical year end sales push.
The company said during its latest earnings report that it expected to deliver between 80,000 and 83,000 vehicles in the first-quarter — a 90.1%-97.2% increase from the 42,094 vehicles delivered in the same period a year ago.
The Group — including the Nio, Onvo and Firefly brands — registered 47,979 vehicles in the first two months of the year.
The figures imply that the EV maker expected March deliveries to stand between 32,021 and 35,021 vehicles.
Last month, the Group delivered 35,486 vehicles globally.
Deliveries had dropped between January and February, despite the year over year increase — amid a production and sales disruption typical of the Chinese New Year Holiday period.
China’s Passenger Car Association (CPCA) warned that this year’s February would see “the year’s absolute trough,” as the nine-day holiday — the longest on record — left only 16 working days last month, three fewer than in 2025.
Earlier this year, Nio‘s management said it expected a delivery growth of 40–50% in 2026.
Considering the 326,028 units delivered in 2025, the EV maker is expecting 2026 deliveries to place between 456,000 and 489,000 vehicles.
First quarter figures show that Nio has completed 17.0–18.3% of its yearly target.
Nio Brand
The Nio brand accounted for 22,490 of the total vehicles delivered by the Group in March, representing a 63.4% share.
The figures increased both year over year and sequentially, as the company recovered from slower production in February.
Nio sold 58,543 vehicles in the first quarter.
In the first two months of the year alone, total deliveries had already exceeded the 27,313 units recorded between January and March 2025.
This growth was largely driven by the third-generation ES8 SUV, which accounted for 28,905 deliveries in January and February alone — surpassing the brand’s total deliveries for the entire first quarter of last year.
ES8 Sales Lead
The third-generation ES8 continues to dominate Nio‘s sales mix.
Given that the 80,000th ES8 was delivered on March 20 and that the company said the 90,000th unit will be delivered “this week” the company has handed over at least 8,740 units in March.
The model’s figures, which were not disclosed by Nio on Wednesday, will surpass 10,000 — and reach a sequential rebound in monthly deliveries after a dip in February.
The model has been the fastest-selling vehicle above 400,000 yuan ($55,000) in the Chinese market since deliveries began on September 21, 2025.
Production has ramped steadily since launch.
The model reached 10,000 units in 41 days, 20,000 in 70 days, 30,000 in 89 days, 40,000 in 100 days, and 50,000 in four months.
The delivery backlog has shrunk considerably as production caught up with demand.
Since March 9, new orders have faced a waiting time of 3–4 weeks — halving in just a month — with production running close to the rate of incoming demand.
The strong ES8 performance was central to a historic financial milestone, as the Nio Group reported its first-ever quarterly profit in the fourth quarter of 2025.
Vehicle margin reached 18.1% in the fourth quarter, up by five percentage points year over year.
Nio‘s co-founder and President Lihong Qin said the ES8 carried a gross margin of around 20%, with an average selling price exceeding 400,000 yuan — making the model the engine of the turnaround.
Last month, the company expanded its subscription-based vehicle offer across all three of its brands through a broadened partnership with Alipay — introducing both Onvo vehicles and the new ES8 on the platform.
Incentives and Editions
To sustain demand for the ES8 and lift sales of its other models, Nio launched a series of new editions and promotional incentives in March.
The company rolled out a ‘Nebula Red’ color option on its flagship SUV, priced at 10,000 yuan ($1,450).
Later in the month, Nio announced two new color themes for its flagship executive sedan, the ET9.
Under the ‘Horizon Special Edition,’ customers could then opt for the ‘Shimmering Light on Water’ and ‘Cosmic Moonlight’ color options, each limited to 199 units.
Nio simultaneously offered early buyers a premium ownership package valued at over 100,000 yuan ($14,500), including 10 years of complimentary battery swapping.
On the incentives front, ES8 buyers in March receive a 10,000 yuan ($1,450) purchase tax subsidy and 7-year low-interest financing, along with five years of free NOP+ driver-assistance usage
Customers who purchased an ES8 in January or February will receive 100,000 Nio points, equivalent to 10,000 yuan, as a retroactive reward.
For the entry-level lineup, customers purchasing any of the four entry-level models could take advantage of a 7-year financing plan at 0.49% annual interest, with a minimal down payment and no fees or penalties.
Upcoming Launches
Nio is preparing a busy product calendar for the upcoming quarters.
The company is nearing the launch of its ES9 full-size flagship SUV, with the unveiling now set for April 9 — a day ahead of its initial schedule.
In late March, the company released a winter test video showing the ES9 undergoing testing in Yakeshi, Inner Mongolia, in extreme cold with temperatures as low as minus 30 degrees Celsius.
The clip shows the ES9 passing a blowout test while driving at 150 km/h and compares the ES9 with the smaller Firefly navigating narrow roads, hinting that the large SUV will possess a turning radius comparable to a compact car.
Deliveries of the ES9 are planned to begin on June 1, following a launch event in late May.
Founder and CEO William Li also confirmed earlier this year that the ‘5566’ entry-level lineup was scheduled for a facelift in the second quarter.
The 2026 versions of its ET5 sedan, ET5 Touring station wagon, ES6 SUV, and EC6 coupe SUV will be unveiled on Thursday, the company announced.
Global Expansion
While Nio‘s domestic business surges, its international push is taking shape more gradually.
Its President said the company plans for a larger-scale expansion overseas “in the next two to three years,” with a forecast of “several thousand units” delivered outside its domestic market in 2026.
By the end of 2025, Nio was present across 20 markets, including China. The company has outlined plans to be in 40 countries and regions by year-end.
The EV maker officially launched in Costa Rica — its first American market — on Sunday.
According to William Li, it is the “first overseas location to bring all three brands under one roof.”
Nio entered Costa Rica with the premium brand’s ET5 Touring station wagon and the EL6 SUV, as well as the Onvo L60 and the Firefly EV.
European Results
The expansion plans come against the backdrop of weak results in Europe, where the brand’s established markets have deteriorated sharply.
Nio sold 54 vehicles in February across nine of its ten European markets, marking a year over year decline despite the introduction of its more affordable sub-brand Firefly and the expansion to five new markets late last year.
A source familiar with Nio’s European operations told EV on Tuesday that the company’s subscription model has caused registration data to significantly understate its actual presence in Europe since it launched.
As exclusively reported by EV last month, Nio quietly dismantled its European management structure in February, shifting its sales operations toward a dealer and distributor model — which it first introduced last year amid its expansion to new markets.
The cost-cutting push is also visible in the brand’s flagship retail network.
The company ended 2025 with fewer of its ‘Nio House’ flagship showrooms than a year earlier — the first annual decline since the premium brand began opening the spaces.
Battery Deployment
On the infrastructure side, Nio recently disclosed that the mass deployment of its fifth-generation battery swap stations has been pushed back again — to July or August.
Internal testing will start in late March, roughly three months behind schedule.
Despite the delays, Nio‘s full-year target of adding 1,000 new stations remains unchanged.
As of Tuesday, the company operated 3,786 battery swap stations in China, having provided over 106 million swaps since 2018.
