Nio said on Friday that sales of its main brand fell both sequentially and year over year to 12,675 vehicles in July.
Despite the introduction of revamped versions in May to four of its best selling models, the premium brand July sales dropped 38.2% year over year and 13.1% from the 14,593 units recorded in June.
In July, deliveries fell year over year for the third consecutive month as the brand struggles to maintain last year’s level of demand when the Nio brand delivered over 20,000 units per month for five consecutive months between May and September.
The brand crossed it again in December when it delivered 20,610 units, typically one of the strongest sales months in the automotive industry as carmakers ramp up incentives to meet annual sales targets.
In 2025, the strongest month for the premium brand was last April with 19,269 units delivered. In May, Nio brand delivered 13,270 vehicles with June recording 14,593 units.
Earlier this week, Deutsche Bank had estimated Nio’s core brand to deliver 12,000 units.
The Nio group — which includes Nio, Onvo and Firefly brands — delivered 21,017 vehicles in July.
In early June, at the first quarter earnings conference call, the company’s founder and CEO William Li said that the brand is targeting “around 25,000” monthly sales in the final quarter of the year.
Li mentioned later in the call that the sub-brand Onvo has the same target, which would bring quarterly delivery figures to 150,000 units. The figures exclude the recently launched sub-brand Firefly, to which the management has not guided a sales/delivery guidance.
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 Nio brand will launch the revamped ES8 SUV at its annual event, scheduled for late September. The unveiling event will take place on August 21.
Besides the volume, Li said also vehicle margin will also rise and surpass 20%. “In that case, while improving the sales volume, we are also going to improve our vehicle gross margin significantly for the Nio brand to be above 20% in Q4,” he added.
