NIO sets a new record for deliveries in the third quarter of the year

The Chinese electric vehicle manufacturer NIO has just released the results achieved by the company during the third quarter of the year, marking a historic sales record with 61,855 vehicles delivered between July and September. This increase represents 11.6 percent more than in the same period of 2023 and also a 7.8 percent rise compared with the previous quarter.

That said, it is important to point out that these figures are not limited exclusively to vehicles of the NIO brand, but also include, for the first time, the company’s sub-brand Onvo. Although Onvo sales were still very modest, with just 832 units delivered to customers.

There is not only good news, however, for NIO. Despite the rise in deliveries, revenue from vehicle sales fell 4.1 percent during the third quarter compared with the same period of the previous year, reaching 16.7 billion yuan, which at the current exchange rate amounts to about 2.2 billion euros. This drop in revenue comes against a backdrop of heavy investment, which has led NIO to post an operating loss of 5.237 billion yuan and a net loss of 5.059 billion yuan, figures that represent a larger loss than the previous year.

The future looks promising for NIO

Following the presentation of these figures, William Bin Li, founder and Chief Executive Officer of the company, highlighted the good reception of the brand’s electric models in the Chinese market. He also expressed great satisfaction that deliveries of the Onvo L60 have already begun, promising that production volume of this model will increase rapidly in the coming weeks. Bin Li is thus confident that the fourth quarter of the year will be even better than the third, and that the company will set yet another record for deliveries.

Deutsche Bank’s forecasts for 2025 affecting the company suggest sustained growth, estimating that NIO could deliver around 450 thousand vehicles next year. Some 223 thousand units should correspond to the NIO brand, to which about 219 thousand from the new sub-brand Onvo must be added. In addition, Firefly, the brand aimed at affordable electric vehicles, is estimated to contribute around 8 thousand units next year.