TLDR
- NIO reported January 2026 deliveries of 27,182 vehicles, jumping 96.1% from January 2025
- NIO brand delivered 20,894 units, ONVO added 3,481, and FIREFLY contributed 2,807 vehicles
- January figures dropped 44% from December’s record 48,135 deliveries
- Shares declined 1.3% to $4.70 in premarket despite strong year-over-year growth
- China’s new-energy vehicle market fell 40.2% month-over-month to 800,000 units
NIO shares dropped 1.3% to $4.70 in premarket trading Monday. The decline came despite January delivery numbers that nearly doubled year-over-year results.
The electric-vehicle maker delivered 27,182 vehicles last month. That represents a 96.1% increase compared to January 2025.
The company’s three-brand strategy drove the growth. The flagship NIO brand delivered 20,894 vehicles. ONVO, targeting family buyers, contributed 3,481 units. FIREFLY, the smaller premium line, added 2,807 deliveries.
NIO has now delivered 1,024,774 vehicles since inception through Jan. 31. The company achieved this milestone despite January typically being a slower month in China’s auto market.
The Lunar New Year holiday period usually dampens sales activity. Yet NIO managed to post substantial year-over-year gains during this challenging window.
December Comparison Shows Different Picture
The January numbers look less impressive when compared to the previous month. Deliveries fell roughly 44% from December’s record 48,135 vehicles.
This sequential decline contributed to the stock’s premarket weakness. Investors weighed the month-over-month drop against the year-over-year growth.
Chinese automaker shares fell broadly in Hong Kong trading over the weekend. That pressure carried into U.S. premarket sessions on Monday.
BYD posted its fifth consecutive monthly sales decline in January. The weakness affected sentiment across the entire Chinese EV sector.
Eugene Hsiao from Macquarie Capital noted investors appeared surprised by the scale of the domestic market decline. His firm tracks China equity markets closely.
Sector Headwinds Mount
China’s new-energy vehicle retail sales totaled about 800,000 units in January. The China Passenger Car Association reported this figure represented a 40.2% drop from December.
Analysts typically combine January and February data due to the shifting Lunar New Year calendar. This approach provides a clearer picture of underlying demand trends.
Li Auto delivered 27,668 vehicles in January, down 8% year-over-year. XPeng posted steeper declines with 20,011 vehicles delivered, falling 34% from last year.
The expiration of China’s full purchase tax exemption for electrified vehicles hurt early-year demand. This policy change removed a key incentive for buyers.
NIO continues expanding its battery-swapping network. Drivers can exchange depleted batteries for fully charged units at these stations.
The company deployed its newest NIO WorldModel software update to over 460,000 vehicles as of Jan. 28. The system uses closed-loop reinforcement learning to enhance driver-assist features on city streets and highways.
China’s Spring Festival travel period has begun. The country observes a nine-day Lunar New Year break from Feb. 15 to Feb. 23.
The Year of the Horse starts Feb. 17. This holiday period typically reduces factory output and showroom traffic. Traders are watching for February delivery data in early March.
