Nio Inc. reported 40,597 vehicle deliveries in June, its strongest month of 2026, closing out a second quarter that fell just short of the 110,000-to-115,000 range the company had guided across its three brands.
The main Nio brand accounted for 21,908 of that total, up 50.1% from a year earlier, with the family-oriented Onvo contributing 11,743, up 83.5%, and the compact Firefly marque 6,946, up 76.7%.
Group deliveries for the quarter reached 107,658, or 2,342 below the 110,000 floor of the range chief executive William Li set out in March alongside first-quarter results.
For the first half, group deliveries reached a record 191,123, up 67.4% year over year, with cumulative deliveries since inception passing 1,188,715 vehicles.
The Guidance
Li guided second-quarter deliveries to 110,000 to 115,000 vehicles when the company reported first-quarter results, a range representing year-over-year growth of 52.7% to 59.6%.
The forecast followed a first quarter in which Nio delivered 83,465 vehicles, up 98.3% from a year earlier and ahead of its own 80,000-to-83,000 guidance.
April deliveries of 29,356 and May deliveries of 37,705 left the group needing between 42,939 and 47,939 units in June to land inside the guided range, a threshold June’s 40,597 fell 2,342 short of at the low end.
June’s figure was the strongest of 2026, up 62.9% year over year, though still below the all-time monthly record of 49,123 set in November 2025.
Qin Lihong, Nio‘s co-founder and president, had signaled in early June that group deliveries for the month would top 40,000 units, a mark the 40,597 result cleared even as the quarter missed its guide.
Deutsche Bank’s mid-June weekly order tracker showed Nio drawing about 34,000 new orders over a fortnight, a sign of demand holding as the quarter closed.
Full-Year Frame
Nio is targeting full-year deliveries of 456,000 to 489,000 vehicles in 2026, the range implied by William Li’s guidance for 40% to 50% growth on 2025’s 326,028 units — the most ambitious volume goal in the group’s history.
Through the first half, the group delivered a record 191,123 vehicles, up 67.4% year over year and equivalent to between 39.1% and 41.9% of that full-year target.
Clearing even the low end now requires a second half between roughly 39% and 56% larger than the first, a ramp the company expects to lean on the ES9, the Onvo L80, L90 and refreshed L60, and continued Firefly contribution.
The Nio Brand’s June
The main Nio brand delivered 21,908 vehicles in June, up 50.1% year over year and the largest share of the group total, after 20,013 in May.
Driving that volume was the third-generation ES8, which reached 110,000 cumulative deliveries in 245 days and held the No. 1 sales position among all models priced above 400,000 yuan, across every powertrain type, for five consecutive months as of May.
The ES9, Nio‘s flagship executive SUV, launched on May 27 with deliveries beginning the next day — accelerated from a previously guided June 1 — at a starting price of 498,000 yuan, and the model delivered its 10,000th unit on June 26, the company said.
William Li said on the May 21 earnings call that ES8 order intake had reached its highest level since launch in the first 20 days of May, with the model’s configurator wait time climbing back to two-to-three weeks, which he attributed to ES9 showroom traffic spilling over to its larger stablemate.
Deutsche Bank estimated Nio would deliver at least 7,000 ES9 units in June and lifted its full-year ES9 forecast to 56,000 units, citing more than 25,000 non-cancellable orders and wait times stretching from eight to nine weeks on entry trims to 16 to 17 weeks on versions with the SkyRide active suspension.
June News by Topic
Nio‘s power network crossed 9,000 charging and battery-swap stations in China on June 24, when its 9,003rd station went online in Ankang, Shaanxi, comprising 3,927 swap stations and 5,076 chargers, with the network having delivered more than 200 million services and 110 million swaps.
The company signed a June 25 agreement with Zhong’an Energy to build 500 swap stations nationwide within the year, extending an asset-light model in which partners fund and build stations that Nio leases back to preserve cash, as it plans to add more than 1,000 stations in 2026 and begin large-scale rollout of its fifth-generation design.
Deutsche Bank analysts led by Wang Bin forecast Nio could post a non-GAAP net profit of about $26.5 million in the second quarter, a 304% sequential increase, and judged the company’s 17% to 18% vehicle-margin guidance achievable as higher-margin ES8 and ES9 volumes grew as a share of the mix.
Nio has staked its credibility on its 2026 full-year financial target of positive non-GAAP operating profit, after a decade of losses, with finance chief Stanley Qu — who also runs the energy business — telling analysts the company would hold quarterly research spending at 2 billion to 2.5 billion yuan.
What to Watch
Nio landed 2,342 vehicles short of its 110,000-to-115,000 second-quarter guide, the narrow miss the clearest read from Wednesday’s report despite a June that set the year’s monthly high.
The brand split is already known, with Onvo‘s 83.5% year-over-year June jump the fastest of the three marques and Firefly‘s 76.7% close behind; the ES9 delivery pace and the ES8’s premium-segment lead will come into focus only once model-level figures arrive from the CPCA early next week.
