The Shanghai-based Nio Group has reported on Tuesday its second quarter earnings results, posting the lowest net loss since late 2023 as the company targets to reach its first profitable quarter in Q4.
The Group set its third quarter delivery guidance to be between 87,000 and 91,000 vehicles, an increase of about 40.7% to 47.1% from the same period a year ago.
Considering it delivered 21,017 units in July and 31,305 in August, Nio expects to again reach a new record in the final month of the quarter, delivering between 34,678 and 38,678 vehicles in September.
Compared to the second quarter of 2025, when the EV maker delivered 72,056 vehicles, Nio expects deliveries in the July-September period to jump from 20.7% to 26.3%.
August deliveries represented the company’s highest monthly result since its founding eleven years ago, breaking last December’s previous record.
The milestone was largely driven by Onvo and Firefly deliveries.
Onvo more than doubled from 5,976 units in July, as it started deliveries of its second model, the L90.
Firefly, which is entering several European markets, where it started deliveries late last month, rose from 2,366 to 4,346 units.
Sales of the main Nio brand declined both sequentially and year over year, despite the brand having refreshed several models in its lineup earlier this year — including the ET5 and ET5T sedans, and the EC6 and ES6 SUVs.
The third generation ES8 was also unveiled late last month, with a starting price of $58,000 including the battery.
The model is expected to be launched at the annual Nio Day event scheduled for later this month.
Nio founder and chief executive William Li said in early June that both the Nio and Onvo marques are targeting around 25,000 monthly sales in the fourth quarter, which would bring group deliveries to roughly 150,000, excluding Firefly.
An update on the target is expected during the company’s second quarter earnings conference call scheduled for later this Tuesday.
Nio is targeting a near doubling of annual deliveries in 2025, aiming to hand over approximately 443,000 vehicles — up from 221,970 units last year.
As of August 31, the company had delivered 166,472 vehicles — about 37.6% of the yearly guidance.
If the company reaches either the lower end of the high end of the third quarter guidance, it will have reached 201,150—205,150 units, or 45.4—46.3% of the yearly target.
This would mean that Nio needs to deliver between 237,850 and 241,850 units in the fourth and final quarter of 2025, more than half of the annual delivery target it has set.
