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Is NIO on Track to Meet its 2025 Vehicle Deliveries Target?
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Key Takeaways
NIO delivered 72,056 vehicles in Q2, up 25.6% year over year and within its guided range.
ONVO and Firefly brands gained momentum, but the core NIO brand saw an 18% decline in Q2.
To meet 2025 targets, NIO must deliver 55K EVs monthly in H2, far higher than its current pace.
China’s electric vehicle (EV) maker NIO Inc. (NIO - Free Report) has announced its June and Q2 vehicle delivery numbers. The company sold 24,925 units last month, reflecting growth of 17.5% year over year. For the three months ended June, it delivered 72,056 vehicles, within the company’s guided range and up 25.6% from the year-ago quarter.
In the second quarter, the namesake brand sold 47,132 cars, representing a decline of approximately 18% from the same quarter in 2024. Meanwhile, ONVO and Firefly brands delivered 17,081 and 7,843 units, respectively.
ONVO—NIO’s mass-market brand—commenced deliveries last September with the model L60 SUV. The second model under the brand, L90, is scheduled to commence deliveries in the current quarter. Meanwhile, Firefly—NIO’s smaller premium EV brand— began deliveries in April.
ONVO and Firefly brands have diversified NIO’s product portfolio, with sales gaining momentum. However, their growth is seemingly coming at the cost of NIO’s namesake brand. This is concerning and also raises doubts about the company’s full-year delivery goals.
In the first half of 2025, the company sold 114,150 vehicles, representing an increase of more than 30% from the year-ago period. While that may look impressive on the surface, the growth isn’t sufficient to meet its big goals. NIO aims to double sales in 2025 from 221,970 units delivered last year.
For that, NIO will have to deliver somewhere around 330,000 vehicles in the second half. That translates to an average monthly run rate of 55,000 EVs. And this seems quite challenging at the moment. NIO will most likely miss its vehicle delivery target for 2025.
Peer Check: NIO’s Deliveries Vs. LI & XPEV
Li Auto (LI - Free Report) delivered 36,279 units last month and 111,074 vehicles in the second quarter of 2025. While Li Auto’s delivery numbers are higher than NIO’s, its growth rate was quite modest at 2.3%. Deliveries of the Li MEGA Home began in late May, with production ramping up quickly as orders far surpassed expectations. Li Auto plans to launch Li i8 this month and Li i6 in September, which are expected to boost deliveries.
Meanwhile, XPeng Inc. (XPEV - Free Report) continues with its delivery growth momentum. Last month, XPeng delivered 34,611 smart EVs, marking a whopping 224% increase year over year. With that, XPeng’s deliveries surpassed the 30,000 mark for the eighth straight month. In Q2’25, the company sold 103,181 cars, setting a new quarterly record.
NIO significantly trailed behind Li Auto and XPeng in the second-quarter delivery numbers.
The Zacks Rundown for NIO
Shares of NIO have lost around 19% year to date compared with the industry’s decline of 8%.
Image Source: Zacks Investment Research
From a valuation standpoint, NIO trades at a forward price-to-sales ratio of 0.45. It carries a Value Score of D.
Image Source: Zacks Investment Research
Take a look at how the Zacks Consensus Estimate for NIO’s earnings has been revised over the past 90 days.
Image: Bigstock
Is NIO on Track to Meet its 2025 Vehicle Deliveries Target?
Key Takeaways
China’s electric vehicle (EV) maker NIO Inc. (NIO - Free Report) has announced its June and Q2 vehicle delivery numbers. The company sold 24,925 units last month, reflecting growth of 17.5% year over year. For the three months ended June, it delivered 72,056 vehicles, within the company’s guided range and up 25.6% from the year-ago quarter.
In the second quarter, the namesake brand sold 47,132 cars, representing a decline of approximately 18% from the same quarter in 2024. Meanwhile, ONVO and Firefly brands delivered 17,081 and 7,843 units, respectively.
ONVO—NIO’s mass-market brand—commenced deliveries last September with the model L60 SUV. The second model under the brand, L90, is scheduled to commence deliveries in the current quarter. Meanwhile, Firefly—NIO’s smaller premium EV brand— began deliveries in April.
ONVO and Firefly brands have diversified NIO’s product portfolio, with sales gaining momentum. However, their growth is seemingly coming at the cost of NIO’s namesake brand. This is concerning and also raises doubts about the company’s full-year delivery goals.
In the first half of 2025, the company sold 114,150 vehicles, representing an increase of more than 30% from the year-ago period. While that may look impressive on the surface, the growth isn’t sufficient to meet its big goals. NIO aims to double sales in 2025 from 221,970 units delivered last year.
For that, NIO will have to deliver somewhere around 330,000 vehicles in the second half. That translates to an average monthly run rate of 55,000 EVs. And this seems quite challenging at the moment. NIO will most likely miss its vehicle delivery target for 2025.
Peer Check: NIO’s Deliveries Vs. LI & XPEV
Li Auto (LI - Free Report) delivered 36,279 units last month and 111,074 vehicles in the second quarter of 2025. While Li Auto’s delivery numbers are higher than NIO’s, its growth rate was quite modest at 2.3%. Deliveries of the Li MEGA Home began in late May, with production ramping up quickly as orders far surpassed expectations. Li Auto plans to launch Li i8 this month and Li i6 in September, which are expected to boost deliveries.
Meanwhile, XPeng Inc. (XPEV - Free Report) continues with its delivery growth momentum. Last month, XPeng delivered 34,611 smart EVs, marking a whopping 224% increase year over year. With that, XPeng’s deliveries surpassed the 30,000 mark for the eighth straight month. In Q2’25, the company sold 103,181 cars, setting a new quarterly record.
NIO significantly trailed behind Li Auto and XPeng in the second-quarter delivery numbers.
The Zacks Rundown for NIO
Shares of NIO have lost around 19% year to date compared with the industry’s decline of 8%.
From a valuation standpoint, NIO trades at a forward price-to-sales ratio of 0.45. It carries a Value Score of D.
Take a look at how the Zacks Consensus Estimate for NIO’s earnings has been revised over the past 90 days.
NIO stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.