Nio reported 13,192 vehicle deliveries in February, marking a 62.22% increase from a year earlier but a 4.84% decline from January. The company’s overall performance was affected by weaker sales from its Onvo sub-brand, despite a rebound in deliveries for the main Nio brand.
The Nio brand delivered 9,143 vehicles in February, rising 12.43% year-over-year and 14.99% from the previous month. Onvo, however, saw a drop in deliveries, with 4,049 units in February, down 31.51% from January’s 5,912 vehicles.
See also: Onvo L90 Teased in First Official Image, Set to Rival Li Auto’s Li i8
The early months of the year are typically slow for the Chinese auto industry, particularly around the Lunar New Year holiday. This year’s holiday occurred from late January to early February, whereas last year it fell in mid-February.
For the first two months of the year, Nio delivered 27,055 vehicles, reflecting a 48.76% increase from the same period in 2024. The Nio brand accounted for 17,094 units, a slight decline from the previous year, while Onvo contributed 9,961 vehicles. Cumulative deliveries for Nio Inc have now reached 698,619, including 667,897 from the Nio brand and 30,722 from Onvo.
See also: Nio Prepares Facelift for Four Key Models, Minor Exterior Tweaks Revealed
Onvo, which launched its first model, the L60, in September 2024 as a competitor to Tesla’s Model Y, introduced a five-year, 0-interest financing program in March, though it discontinued the BaaS (battery as a service) billing option that was available in February. The sub-brand is preparing to unveil its flagship L90 SUV in the second quarter, with an official launch scheduled for the third quarter.
Nio has also extended its five-year, 0-interest financing program until March 31, following the expiration of its previous incentive. The company plans to introduce new products every quarter from the second to the fourth quarter of 2025.
See also: Nio Denies Layoff Rumors, Takes Legal Action Against False Claims
