Nio Inc Quarterly Deliveries 2024-2026
Quarter
2024
2025
2026
Q1
30,053
42,094
83,465
Q2
57,373
72,056
107,658
Q3
61,855
87,071
Q4
72,689
124,807
Nio Inc quarterly deliveries
2024
2025
2026
- Nio delivered 107,658 vehicles in the second quarter, up 49.4% year-on-year but below its guidance range.
- Investors are watching whether Nio can extend its streak of non-GAAP profitability.
Nio Inc (NYSE: NIO) will report unaudited financial results for the second quarter ended June 30 before the US market opens on Tuesday, September 1, according to an announcement from the company on Thursday.
Management will hold an earnings conference call at 8:00 am US Eastern Time the same day, corresponding to 8:00 pm on September 1 in Beijing, Hong Kong and Singapore.
A live webcast and replay of the conference call will be available on the company’s investor relations website at ir.nio.com.
Participants wishing to join by phone will need to register in advance and dial in 10 minutes before the call begins. Upon registration, they will receive dial-in numbers, a passcode and a unique access PIN.
The timing is slightly earlier than last year. Nio reported its second-quarter 2025 results and held its earnings call on September 2 last year.
A key focus of the upcoming earnings report will be whether the company can post non-GAAP profitability for a third consecutive quarter.
Nio recorded adjusted operating profit of 66.8 million yuan ($9.84 million) in the first quarter, while revenue surged 112.2% year-on-year to 25.53 billion yuan. Its overall gross margin expanded to 19.0%, the highest in 4 years.
Deutsche Bank said in early June that it expected Nio to remain profitable on a non-GAAP basis in the second quarter, driven by higher-margin SUV models, with non-GAAP net income of about 180 million yuan.
However, second-quarter deliveries were somewhat weaker than expected. Nio delivered 107,658 vehicles during the quarter, below the lower end of its guidance range of 110,000 to 115,000 units.
Even so, the figure represented a 49.4% increase year-on-year. Nio had previously guided for second-quarter revenue of between 32.78 billion yuan and 34.44 billion yuan.
The weakness in the quarter was concentrated mainly in April, when deliveries were just 29,356 units. Sales then recovered month by month, reaching 37,705 units in May and 40,597 units in June, the highest monthly level so far this year.
Nio delivered 191,123 vehicles in the first half, up 67.43% year-on-year.
Product mix remains a key variable for margins. The third-generation ES8 contributed 33,474 deliveries in the second quarter, accounting for 31.09% of the total, according to data compiled by CnEVPost.
The new flagship SUV ES9 contributed 11,703 deliveries in the second quarter after deliveries began on May 28, accounting for 10.87% of the total. Firefly, Nio’s small premium-car brand, delivered 17,589 vehicles.
Onvo, Nio’s family-focused brand, delivered 29,124 vehicles in the second quarter, up 70.51% year-on-year. Deliveries were relatively evenly distributed among its L60, L90 and L80 models.
Investors will also be watching management’s guidance for third-quarter deliveries and revenue, as well as its comments on the full-year profitability target.
Nio Inc quarterly deliveries by brand, with ES8 and ES9 model breakdown (units)
Quarter
Nio Inc
Nio brand
Onvo
Firefly
ES8
ES9
Q1 2025
42,094
27,313
14,781
1,439
Q2 2025
72,056
47,132
17,081
7,843
1,670
Q3 2025
87,071
36,928
37,656
12,487
3,989
Q4 2025
124,807
67,433
38,290
19,084
39,697
Q1 2026
83,465
58,543
13,339
11,583
45,185
Q2 2026
107,658
60,945
29,124
17,589
33,474
11,703
Nio Q1 2026 financial highlights and Q2 2026 guidance
Metric
Value
Note
Q1 2026 revenue
RMB 25.53 billion
+112.2% year over year
Q1 2026 adjusted operating profit (non-GAAP)
RMB 66.8 million (USD 9.7 million)
Second consecutive non-GAAP profitable quarter
Q1 2026 gross margin
19.0%
vs 7.6% in Q1 2025; four-year high
Q1 2026 vehicle margin
18.8%
vs 10.2% in Q1 2025
Q1 2026 GAAP net loss
RMB 332 million
vs RMB 6.75 billion net loss in Q1 2025
Cash and equivalents (as of Mar 31, 2026)
RMB 48.2 billion
Q1 2026 deliveries
83,465 units
+98.3% YoY; above the 80,000-83,000 guidance
Q2 2026 delivery guidance
110,000 – 115,000 units
implies +52.7% to +59.6% YoY
Q2 2026 revenue guidance
RMB 32.78 – 34.44 billion
issued with Q1 results on May 21, 2026
Q2 2026 actual deliveries
107,658 units
+49.4% YoY; 2.1% below the low end of guidance
Nio Q2 2026 deliveries at a glance
107,658 units delivered · +49.4% YoY
107,658
Q2 2026 deliveries · +49.4% YoY
110k-115k
Q2 2026 delivery guidance (missed)
33,474
ES8 Q2 deliveries · -25.9% QoQ
11,703
ES9 Q2 deliveries · launched May 27
Q2 2026 guidance vs actual
Guidance issued with Q1 results on May 21, 2026
Deliveries
Guidance: 110,000 – 115,000 units (+52.7% to +59.6% YoY)
100k
Actual: 107,658
120k
Actual deliveries came in 2,342 units (-2.1%) below the low end of the guidance range.
Revenue
Guidance: RMB 32.78 – 34.44 billion
RMB 30 B
RMB 36 B
Q2 financial results not yet reported; revenue guidance given with Q1 earnings.
Q2 2026 brand mix
Nio brand
60,945
56.6%
Onvo
29,124
27.1%
Firefly
17,589
16.3%
Model spotlight
Nio ES8
Gen 3 large SUV
33,474 Q2 2026 deliveries · -25.9% QoQ
Gen-3 ES8 drove 54.1% of Nio’s Q1 2026 deliveries (45,185 units). Priced from RMB 406,800
Nio ES9
New flagship SUV
11,703 Q2 2026 deliveries · on sale since May 27
Priced from RMB 498,000. Ramp-up in first full month: June 8,595 vs May 3,108 (+176.6% MoM)
Q1 2026 financial highlights
Reported May 21, 2026
RMB 25.53 B
Q1 revenue · +112.2% YoY
RMB 66.8 M
Q1 adj. operating profit ($9.7 M)
19.0%
Q1 gross margin (Q1 2025: 7.6%)
RMB 48.2 B
Cash balance (Mar 31, 2026)
Q1 deliveries 83,465 · +98.3% YoY, above the 80,000-83,000 guidance
Vehicle margin 18.8% (vs 10.2% a year earlier)
GAAP net loss RMB 332 M (vs RMB 6.75 B loss a year earlier)
Adjusted R&D expense down 41.4% YoY
ES8 = 54.1% of Q1 total deliveries
Nio’s 2 premium SUVs account for nearly half of group deliveries.
($1 = 6.7808 yuan)
