Nio’s sub-brand Onvo recorded a 10% drop in insurance registrations last week, with 1,550 units registered in the fourth week of July, according to data shared on Chinese social media on Tuesday.
Despite the sequential decline, it was the brand’s third-strongest weekly performance since mid-May.
Onvo registered 1,288, 1,140, and 1,720 units in the first three weeks of July, respectively.
In June, the brand delivered 6,400 vehicles, marking its best monthly result this year and second only to its launch month last September.
The dip in weekly registrations comes just ahead of the official launch of Onvo’s second model, the L90, which will debut on July 31.
The family-focused six-seater SUV will also offer seven-seat and five-seat variants. The seven-seat configuration will be detailed at the upcoming event, while the five-seat version — branded the L80 — is scheduled for release in the next quarter.
The L90 is positioned as a competitor to Tesla’s Model Y and Li Auto’s i8, which also debuts this Tuesday in Beijing.
Earlier this month, the brand introduced a limited-time promotional campaign for its L60 model, offering buyers in July three years of free battery swapping and interest-free financing.
Additional incentives include five years of complimentary assisted driving software, a 15,000 yuan government trade-in subsidy, and seasonal perks such as a car-mounted refrigerator and UV-protective sunroof film.
A dedicated package has also been announced for families of 2025 graduates.
Group-wide, Nio Inc. — comprising the Nio, Firefly, and Onvo brands — recorded 4,996 insurance registrations for the week, a 2% increase from the previous week’s 4,900 units.
Firefly sales plunged 70.6% last week as the brand faced production issues at its plant in Hefei.
Nio founder and CEO William Li, who has set a Q4 delivery target of 25,000 monthly units for Onvo, highlighted growing interest in the upcoming L90.
In a Weibo post on Sunday, Li said showroom staff had extended operating hours to accommodate demand, with one Shanghai location staying open until 2 a.m. to offer L90 test drives.
In another Weibo post published on Tuesday, Li celebrated safety test results from the China Insurance Automotive Safety Index (C-IASI), noting that both the Onvo L60 and the Firefly hatchback received top-tier ratings across all categories.
“The Onvo L60 excelled in all four major evaluation categories with performance exceeding 4G, making it the first pure electric vehicle to earn all “G” ratings in the C-IASI safety test” he wrote.
Li added that the achievement reflected “a decade of Nio’s accumulated technological expertise.”
The company will release full pricing and specifications for the L90 at its official launch event later this week.
In addition to the previously announced 85 kWh battery pack, a 60 kWh standard-range option will also be offered, according to recently leaked images.
Earlier this month, Morgan Stanley analyst Tim Hsiao reported that Onvo secured between 30,000 and 35,000 pre-orders for the L90 within four days of its pre-launch event held in Hefei.
The L90’s six-seat version offers up to 605 km of range under the CLTC cycle. It measures 5,145 mm in length, 1,998 mm in width, and up to 1,786 mm in height, with a 3,110 mm wheelbase.
