Nio’s US-listed shares fell 5.83% on Monday to $4.36, the lowest close since July 2025, as investors weighed a delivery target the Chinese EV maker needs a major demand push to reach, a European business in retreat and a premium segment at home that cheaper rivals are steadily taking apart.
The stock touched $4.34 during the session, a 52-week low, on volume 71% above the three-month average. It recovered 0.7% to $4.39 in pre-market trading on Tuesday.
The selloff came a week before Nio reports second-quarter results, on September 1, when it will also guide third-quarter revenue and deliveries.
Monday’s weakness followed a broader retreat in US-listed Chinese auto stocks after XPeng guided third-quarter revenue about 15% below consensus and fell to its 20-month low.
8 Years Below the Offer Price
Nio has never reported an annual profit, and a first is the company’s stated goal for 2026.
The company, founded in late 2014, reported its first profitable quarter in the final three months of 2025.
Monday’s close leaves it 30.4% below the $6.26 at which it sold 160 million American depositary shares in September 2018, and 93.1% below the record $62.84 close of February 2021.
Market value stood at $10.92 billion.
The shares are down 14.5% in 2026 and 34.9% over twelve months.
They bottomed at $3.02 intraday in April last year before running to $8.02 by the autumn. Monday’s price retains 44.4% of that advance, with the rest surrendered over the ten months since.
The Target Is Slipping
Nio has guided to full-year growth of 40% to 50% on the 326,028 vehicles it delivered in 2025, implying between 456,000 and 489,000 for this year. Through July it had shipped 227,057.
The figures leave 228,943 vehicles to be delivered across the final five months to reach the floor, an average of 45,789 a month.
The ceiling would demand 52,389 — more, every month, than the 48,135 record Nio set in December.
July’s 35,934 deliveries were 71% higher than a year earlier but 11.5% below June, and second-quarter volume of 107,658 came in beneath the company’s own guidance range of 110,000 to 115,000, missing the floor by 2,342 cars.
The Nio brand accounted for 20,008 of July’s total, with Onvo at 10,155 and Firefly at 5,771, leaving the core marque at 55.7% of group volume.
No new model can move the annual figure now. A facelifted ET5 Touring has been seen testing and is expected to be unveiled at the ‘Nio Day’ event in December in Wuhan.
Nio has not confirmed the programme for its annual event.
The brand has been heavily dependent on two models: the ES8 and ES9 SUVs. Cheaper SUVs and sedans have been posting weaker demand throughout the last few months.
Rivals Are Arriving From Below
The pressure is clearest in the segment Nio built its brand on.
Its ES8 led China’s full-size SUV market in July with 10,284 units, according to China Automobile Dealers Association data. Leapmotor’s D19 was second with 10,043 — a gap of 241 cars, or 2.4%.
The D19 starts at 219,800 yuan ($32,700). The ES8 costs 85% more to get into than the D19, and outsold it by 241 cars.
Behind them, the Aito M9 took third with 9,639 from 479,800 yuan ($71,400) and the Huajing S fourth with 7,203 from 159,800 yuan ($23,800).
XPeng’s GX, launched in May from 279,800 yuan ($41,600), held fifth with 7,016. The company called it on Monday one of the top three vehicles in China’s new-energy SUV segment above 300,000 yuan.
Nio’s ES9 dropped three places to sixth with 6,311, from 498,000 yuan ($74,100). BYD’s Da Tang EV, at 239,900 yuan ($35,700), was the table’s biggest mover, climbing eight places to seventh, while the group’s premium Denza brand took eighth with the N8L from 299,800 yuan ($44,600).
BYD secured more than 150,000 pre-orders for its new flagship SUV.
Nio holds two of the ten places and 16,595 combined units. Every model that climbed into the upper half undercuts it substantially on price.
Europe Without Nio
European battery-electric registrations rose 13.6% in July. Nio’s, across eight reported markets, fell 26.2%.
The collapse is starkest in the two countries the company entered first.
Germany took three cars in July, down 93.6%, for a seven-month total of 18.
Netherlands registrations of Nio-brand vehicles fell 87.9% to eight. Together the two markets absorbed 26 Nio-branded cars in seven months. Norway, the oldest market, managed 211 across Nio and Firefly to August 23.
Nio has closed showrooms including its Hamburg Nio House and moved Denmark to a distributor model. Configurators in Germany, Sweden and the Netherlands listed 15 vehicles between them, and EV reported last week that the company is running out of cars to sell in its directly operated European markets.
The range there consists of vehicles built in 2023 and 2024 on the older NT 2.0 platform. The third-generation ES8, the ES9 and the ET9 have not been announced for Europe.
Chinese domestic sales have fallen since late 2025 under weak demand and sustained price competition, pushing manufacturers abroad.
Leapmotor shipped 113,863 vehicles overseas in seven months, up 281.5%, and passed 100,000 global deliveries in July, a first for a Chinese EV startup.
XPeng exported a record 9,700 units in July, a quarter of its wholesale volume. Roughly 43% of BYD’s July deliveries went overseas. Nio held about 3.8% of Chinese new-energy retail.
Abu Dhabi Backer
Nio’s largest shareholder is sovereign, and sits outside the 13F filings that capture the rest of the register.
Abu Dhabi’s CYVN Holdings paid $738.5 million in July 2023 for 84,695,543 new Class A shares at $8.72 apiece, buying a further 40,137,614 shares from a Tencent affiliate for $350 million at the same price.
It followed in December with $2.2 billion for 294 million shares at $7.50, taking it to about 20.1% and two board seats — some $3.3 billion in all.
Monday’s close sits 41.9% below the December entry price and exactly half the July one. The stake has been diluted to 17.9% by subsequent issuance, but CYVN has sold nothing.
Abu Dhabi folded the holding into L’imad Holding in January.
L’imad owns CYVN Investments outright and is itself wholly owned by the emirate’s Ministry of Finance, with the Crown Prince, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, as chairman.
CYVN ranks above founder William Li and above Tencent.
Li holds under 10% of the equity but roughly 39% to 44% of the votes through Class C shares carrying eight each, which leaves him in control whatever the sovereign fund owns.
What Comes Next
Nio posted its first quarterly GAAP profit, of 282.7 million yuan, in the fourth quarter of 2025, then slipped back to a 332.1 million yuan loss in the first.
Institutional positioning grew by 2.5 million shares as buyers outweighed sellers, with Morgan Stanley buying 12.7 million to become the second-largest holder and Bank of America adding 33.5%, against a 20.1 million share sale by the largest holder and a 79% reduction by JPMorgan from its late-2025 peak.
Adding to Monday’s noise, Nio said it would take a strategic stake in an embodied-intelligence company founded by Ren Shaoqing, the Senior Vice President running its smart-driving unit, while saying he continues to lead it.
Li announced the arrangement at an all-hands meeting, according to LatePost, which noted that how Ren divides his time is now a question for outside observers.
