Nio Posts Record December, Meets Q4 Guidance as 2025 Deliveries Rise 47%

Overview

• Nio delivered 48,135 vehicles in December, a monthly record composed of 31,897 Nio, 9,154 Onvo, and 7,084 Firefly units.
• Fourth-quarter deliveries reached 124,807, landing within the 120,000–125,000 guidance range, with cumulative deliveries at 997,592 by year-end.
• Full-year 2025 deliveries totaled 326,028, up 46.9% year over year, but equal to about 73.8% of the company’s original plan to double volumes.
• The All-New ES8 surpassed 40,000 cumulative deliveries, drew over 100,000 orders, shows 20–21 week wait times, and is produced at Nio’s new Hefei plant, with social media photos indicating 43,668 Gen-3 ES8s built.
• The core Nio brand fell 11.1% to 178,806 vehicles in 2025—its first annual decline since 2018—while Nio shares dropped 7.2% to $5.10 on the last trading day of the year, finishing 2025 up about 17%.