Nio delivered 48,135 vehicles in December, a new monthly record representing a 54.6% increase year-over-year, as the Chinese electric vehicle maker met its reduced fourth-quarter guidance.
December figures included 31,897 vehicles from the core Nio brand, 9,154 units from the family-oriented sub-brand Onvo, and 7,084 vehicles from the urban-focused brand Firefly.
The Shanghai-headquartered group delivered 124,807 vehicles in the fourth quarter — a new quarterly record representing a 71.7% year-over-year increase — landing within its guidance range of 120,000 to 125,000 units.
For the full year 2025, total deliveries reached 326,028 vehicles, up 46.9% from 221,970 units in 2024. Cumulative deliveries reached 997,592 as of December 31, 2025.
Missed Initial Target
While Nio met its revised fourth-quarter guidance, the company fell significantly short of its original 2025 ambitions.
A year ago, management had targeted deliveries to double from about 221,000 in 2024 to approximately 442,000 in 2025. The actual figure of 326,028 represents 73.8% of that initial goal.
The company trimmed guidance multiple times throughout the year.
In June, CEO William Li said the core Nio brand would target about 25,000 deliveries per month in the fourth quarter while Onvo would aim for the same — resulting in 150,000 units for the two brands excluding Firefly.
By early September, management began including Firefly sales in the 150,000 target.
Then in November, when Nio reported third-quarter financial results, the quarterly guidance was reduced to between 120,000 and 125,000 units.
The 150,000 target had been cited as a key driver for the company’s overall profitability goal.
December Performance
Nio needed to deliver between 43,328 and 48,328 vehicles in December to meet its revised guidance, following 40,397 deliveries in October and 36,275 in November.
The December figure of 48,135 came in just 193 units below the high end of the implied range.
The company’s best-selling model remains the third-generation ES8, the three-row electric SUV launched in late September.
Nio received more than 100,000 orders for the model, with delivery waiting times reaching six months shortly after the launch event.
The company produces the model at its newly opened third EV plant.
Located also in Hefei, Anhui province, the factory manufactured 43,668 Gen-3 ES8 vehicles, according to pictures shared on Chinese social media showing the team celebrating the milestone.
According to Nio‘s website, the ES8 currently has a delivery waiting time of 20 to 21 weeks, meaning new orders are expected to be delivered in mid-May 2026.
Nio shares fell 7.2% to $5.10 on the last trading day of 2025, closing the year with a gain of approximately 16.97%.
