Nio reported a modest rebound in deliveries for March, as both its main brand and sub-brand Onvo saw improved performance. The Chinese electric vehicle (EV) maker delivered 15,039 vehicles last month, a 26.74% increase from 11,866 in the same period last year and a 14% rise from February’s 13,192 units, according to company data released Monday.
The Nio brand contributed 10,219 deliveries, down 13.88% year-on-year but up 11.77% from February. Meanwhile, Onvo, Nio’s sub-brand, delivered 4,820 vehicles in March, marking a 19.04% increase from the previous month. Onvo, which launched its first model, the L60 SUV, in September 2024, has been expanding its market presence.
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In the first quarter, Nio delivered 42,094 vehicles, aligning with its guidance range of 41,000 to 43,000 units. This represented a 40.07% year-on-year increase but a 42.09% decline from the 72,689 vehicles delivered in the fourth quarter of 2024. The Nio brand accounted for 27,313 deliveries in Q1, while Onvo delivered 14,781 vehicles.
Nio continues to expand its lineup, with its flagship ET9 sedan beginning deliveries at the end of March. The company is planning new product launches in each quarter of 2025. “The facelifted models will feature a horizontally mounted center screen and integrate our in-house Shenji autonomous driving chip,” Nio founder and CEO William Li said in a February live broadcast.
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Onvo is set to unveil its second model, the L90, in April, with deliveries expected in the third quarter. Additionally, Nio’s third sub-brand, Firefly, will debut its first model on April 19, a high-end boutique battery electric vehicle priced at RMB 148,800 ($20,500).