Shanghai-based EV maker Nio said on Tuesday that sales of its main brand rose 10% sequentially to 14,593 units in June, marking the second consecutive month were deliveries fell year over year.
A year ago, the Nio brand had delivered 21,209 vehicles — the current monthly record for its main brand. Year over year, sales fell 31.2%.
In May, sales of the Nio brand had already fallen over 30% both year over year and sequentially to 13,270 units.
When reporting its first quarter financial results, the EV maker said it expected vehicle deliveries of the three brands combined to range between 72,000 and 75,000 units.
When adding the 6,400 vehicles delivered by Onvo and 3,932 by Firefly in June, total figures for the April-June period stood at 72,056 units.
Quarterly figures surged 71.2% when compared to the first three months of the year and beat the lower end of the guidance by 56 vehicles.
First quarter deliveries of the Nio Group stood at 42,094 vehicles, representing a 40.1% increase when compared to the first three months of 2024.
In May, the brand launched the 2025 versions of four of its models with unchanged pricing: the entry level sedan ET5, its station wagon version ET5 Touring, the new EC6 and the new ES6.
Deliveries of the new iterations in China started in May.
The ET5 contributed 11.9% of Nio Inc’s full-year deliveries in 2024, and the ET5T contributed 22.9% meaning that over 1 in each 3 cars sold from Nio was one this models.
The ES6, Nio’s entry level SUV, starts at 338,000 yuan and the EC6 from 358,000 yuan. With battery subscription of Battery as a Service (BaaS), the starting price is 268,000 yuan and 288,000 yuan, respectively.
Over the next six months, the Group will launch the new ES8 SUV under the Nio brand and Onvo’s second and third models, named L90 and L80.
“The company’s deliveries are set to accelerate from Q3, with stronger sales, lower supply chain costs and the better efficiency from new products and the technologies,” the founder and CEO said in early June.
Citing the launch of the new Nio ES8 and the ramp-up of the recently launched four models, the chief executive said he expects sales of the core brand to be “around 25,000” units.
“With that, we believe that in Q4 for the Nio brand, the monthly delivery will be around 25,000 units. That’s around 20% year over year growth from last year’s Q4, which was around 20,000 units a month,” he stated.
Besides the volume, Li said also vehicle margin will rise and surpass 20%. “In that case, while improving the sales volume, we are also going to improving our vehicle gross margin significantly for the Nio brand to be above 20% in Q4,” he added.
Nio is falling behind its 2025 goal of building 1,800 to 2,000 new battery swap stations in China to expand its infrastructure network.
By the end of June, the company had completed just 384 new stations — only 21.3% of the lower target and 19.2% of the upper target.
To meet even the lower end of its annual goal, Nio must now accelerate its rollout pace by three to four times in the second half of the year.
Over the weekend, the company started rolling out the first version of its “Nio World Model” (NWM) assisted driving system for vehicles built on its latest Cedar operating system.
The EV maker initially released its smart driving system to older vehicles in late May and scheduled the rollout to its newer models for late June.
