Nio’s sub-brand Onvo said Friday it delivered 5,976 vehicles in July, down 6.6% from June, as it launched its second model earlier in the week.
The family-oriented brand had delivered 6,400 vehicles in June, 6,281 in May and 4,400 in April.
June results represented the strongest month of the year and the second-best since deliveries of the debut model L60 began last September.
The five-seat SUV was first unveiled in May 2024 and positioned as a direct competitor to the Tesla Model Y.
Deliveries are expected to more than double in August to a new record as Nio’s founder and CEO William Li sees 7,000 units handed over this month for the new SUV as an “achievable” target.
As reported earlier this Friday, Citi analyst Jeff Chung said the firm expects a monthly run-rate for the L90 of between 8,000 and 9,000 units — above the current consensus.
Deliveries of the second model L90 began earlier this Friday across China, with the company starting with the 6-seat configuration. Deliveries of the 7-seat configuration are planned to begin in late September.
The company had set sales targets of 16,000 units for January and 20,000 for March.
However, actual deliveries came in well below expectations — 5,912 in January, 4,049 in February, and 4,820 in March — ultimately leading to the departure of brand chief Alan Ai.
The brand launched in early July a limited-time promotion for its L60 model, offering three years of free battery swapping and zero-interest financing to ramp up demand for the SUV.
Additional benefits include five years of free assisted driving software, a 15,000 yuan government trade-in subsidy, and seasonal gifts such as a car-mounted refrigerator and UV-blocking sunroof film.
The campaign also includes a dedicated incentive package for families of 2025 graduates, the company said at the time.
In early June, Nio founder and CEO William Li said the company was targeting 25,000 monthly deliveries for the Onvo brand in the final quarter of the year, implying a total of 75,000 deliveries for Q4.
Including the lower range 60kWh battery pack, the Onvo L60 starts at 206,900 yuan — equivalent to $28,800.
