Nio reported impressive delivery figures for June, marking a second consecutive record-breaking month with 21,209 vehicles delivered, up 98.09 percent from the same period last year and 3.24 percent from May.
The company’s strong performance in June is attributed to enhancements made to its BaaS battery rental service in March and a broader recovery in China’s EV sector.
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In Q2, Nio delivered a total of 57,373 vehicles, surpassing its previous record set in Q3 2023 by 143.93 percent year-on-year. This exceeded the upper end of its guidance range of 54,000 to 56,000 vehicles provided earlier.
Revenue for the quarter was expected to range between RMB 16.59 billion ($2.28 billion) and RMB 17.14 billion, representing robust growth compared to the same period last year.
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Nio’s lineup now includes eight models, with SUVs like the ES8, ES7, ES6, EC7, and EC6, and sedans like the ET7, ET5, and ET5 Touring. The company plans to launch its ET9 sedan in Q1 2025.
While SUV deliveries slightly dipped in June, sedan deliveries surged, reflecting changing consumer preferences. SUVs delivered 11,581 vehicles, up 81.44 percent year-on-year but down 4.79 percent from May. Sedans saw a significant increase with 9,628 vehicles delivered, up 122.66 percent year-on-year and 14.89 percent month-on-month.
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In the first half of the year, Nio delivered 87,426 vehicles, up 60.24 percent year-on-year. SUV models accounted for 50,371 units, constituting 57.62 percent of total deliveries, while sedans contributed 37,055 vehicles, comprising 42.38 percent.
