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NIO Expects Y/Y Rise in Q2 Deliveries: What are the Growth Agents?
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Key Takeaways
NIO projects Q2 deliveries of 72,000-75,000 units, up from last year's 57,373 in the same period.
Delivery momentum is driven by four updated models and strong demand for the ONVO L60 and FIREFLY.
XPEV leads peers in projected Q2 growth with up to 257.5%, while LI targets up to 128,000 unit deliveries.
NIO Inc. (NIO - Free Report) introduced upgraded versions of four key models, the EC6, ES6, ET5, and ET5T, at the end of May and has recently started deliveries of all four. These models are expected to see their first full month of deliveries in June. On the strength of these new launches, NIO anticipates a year-over-year rise in both June and second-quarter deliveries.
The company expects June deliveries in the range of 25,000 and 28,000 units, up from 21,209 units in the same month last year. For the second quarter, NIO expects to deliver between 72,000 and 75,000 vehicles, indicating a 25.5% to 30.7% year-over-year growth.
In the first quarter of 2025, NIO delivered a total of 42,094 smart EVs, representing a 40.1% year-over-year increase. The deliveries include 27,313 units under the NIO brand and 14,781 from ONVO. Since the beginning of the second quarter, deliveries have gained momentum, driven by the initial rollout of the ET9 and FIREFLY models as well as strong demand for the ONVO L60. FIREFLY is a smart electric high-end small car brand for which deliveries started in late April. NIO carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NIO’s local competitors, Li Auto Inc. (LI - Free Report) & XPeng Inc. (XPEV - Free Report) , also expect year-over-year growth in second quarter deliveries. Li Auto expects its vehicle deliveries for the second quarter of 2025 to range between 123,000 and 128,000 units, indicating year-over-year growth of 13.3% to 17.9%. In the first quarter of 2025, the company delivered 92,864 units, up 15.5% compared to the same period last year. Over the past month, Li Auto has completed a full upgrade of its entire vehicle lineup, introducing updated versions across all models.
XPeng expects to deliver around 102,000 and 108,000 vehicles in the second quarter of 2025, indicating year-over-year growth of approximately 237.7% to 257.5%. In the first quarter, XPeng delivered 94,008 units, up 330.8% from 21,821 vehicles delivered during the same period in 2024.
NIO’s Price Performance, Valuation and Estimates
NIO has underperformed the Zacks Automotive-Domestic industry year to date. NIO shares have lost 30.1% compared to the industry’s growth of 4.1%.
YTD Price Performance
Image Source: Zacks Investment Research
From a valuation perspective, NIO appears overvalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.81, higher than its industry’s 0.50.
Image Source: Zacks Investment Research
EPS Estimates Revision
The Zacks Consensus Estimate for 2025 and 2026 EPS has moved up 5 cents and declined by a penny, respectively, in the past seven days.
Image Source: Zacks Investment Research
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NIO Expects Y/Y Rise in Q2 Deliveries: What are the Growth Agents?
Key Takeaways
NIO Inc. (NIO - Free Report) introduced upgraded versions of four key models, the EC6, ES6, ET5, and ET5T, at the end of May and has recently started deliveries of all four. These models are expected to see their first full month of deliveries in June. On the strength of these new launches, NIO anticipates a year-over-year rise in both June and second-quarter deliveries.
The company expects June deliveries in the range of 25,000 and 28,000 units, up from 21,209 units in the same month last year. For the second quarter, NIO expects to deliver between 72,000 and 75,000 vehicles, indicating a 25.5% to 30.7% year-over-year growth.
In the first quarter of 2025, NIO delivered a total of 42,094 smart EVs, representing a 40.1% year-over-year increase. The deliveries include 27,313 units under the NIO brand and 14,781 from ONVO. Since the beginning of the second quarter, deliveries have gained momentum, driven by the initial rollout of the ET9 and FIREFLY models as well as strong demand for the ONVO L60. FIREFLY is a smart electric high-end small car brand for which deliveries started in late April. NIO carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NIO’s local competitors, Li Auto Inc. (LI - Free Report) & XPeng Inc. (XPEV - Free Report) , also expect year-over-year growth in second quarter deliveries. Li Auto expects its vehicle deliveries for the second quarter of 2025 to range between 123,000 and 128,000 units, indicating year-over-year growth of 13.3% to 17.9%. In the first quarter of 2025, the company delivered 92,864 units, up 15.5% compared to the same period last year. Over the past month, Li Auto has completed a full upgrade of its entire vehicle lineup, introducing updated versions across all models.
XPeng expects to deliver around 102,000 and 108,000 vehicles in the second quarter of 2025, indicating year-over-year growth of approximately 237.7% to 257.5%. In the first quarter, XPeng delivered 94,008 units, up 330.8% from 21,821 vehicles delivered during the same period in 2024.
NIO’s Price Performance, Valuation and Estimates
NIO has underperformed the Zacks Automotive-Domestic industry year to date. NIO shares have lost 30.1% compared to the industry’s growth of 4.1%.
YTD Price Performance
Image Source: Zacks Investment Research
From a valuation perspective, NIO appears overvalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.81, higher than its industry’s 0.50.
Image Source: Zacks Investment Research
EPS Estimates Revision
The Zacks Consensus Estimate for 2025 and 2026 EPS has moved up 5 cents and declined by a penny, respectively, in the past seven days.
Image Source: Zacks Investment Research