TLDR
- NIO delivered 27,182 vehicles in January 2026, up 96.1% year over year
- The NIO brand contributed 20,894 units, ONVO delivered 3,481, and FIREFLY added 2,807 vehicles
- January deliveries dropped 44% from December’s record 48,135 vehicles
- NIO stock fell 1.3% to $4.70 in premarket trading despite the year-over-year delivery growth
- China’s overall new-energy vehicle sales fell 40.2% from December to about 800,000 units in January
NIO shares slipped 1.3% to $4.70 in Monday premarket trading, even as the company posted January deliveries that nearly doubled last year’s numbers. The stock closed at $4.76 in the previous session.
The Chinese electric-vehicle maker delivered 27,182 vehicles in January. That marked a 96.1% jump from the same month in 2025.
The NIO brand accounted for 20,894 vehicles. The ONVO brand contributed 3,481 units. FIREFLY, the company’s smaller high-end line, added 2,807 deliveries.
Total cumulative deliveries reached 1,024,774 vehicles as of Jan. 31. That milestone shows how quickly NIO has scaled its production.
January typically runs quieter in China’s auto market due to the Lunar New Year. NIO still managed to post strong year-over-year growth during this period.
However, the January figure tells a different story compared to December. Deliveries dropped roughly 44% from December’s record of 48,135 vehicles.
Broader Market Weakness Weighs on Sentiment
Chinese automaker shares fell in Hong Kong following weekend sales figures. That weakness spilled into U.S. premarket trading on Monday.
Eugene Hsiao, head of China equity strategy at Macquarie Capital, said investors were likely surprised by the size of the domestic decline. BYD, a bigger rival, logged its fifth straight monthly sales drop in January.
The China Passenger Car Association reported new-energy vehicle retail sales at about 800,000 units in January. That marked a 40.2% drop from December.
New-energy vehicles in China include battery electric vehicles and plug-in hybrids. Analysts typically combine January and February figures because the Lunar New Year shifts each year.
Other Chinese EV makers posted mixed January results. Li Auto delivered 27,668 vehicles, down about 8% from last year. XPeng’s numbers fell more sharply with 20,011 vehicles delivered, a 34% drop.
Policy Changes and Holiday Timing
The decline follows the expiration of the full purchase tax exemption for electrified vehicles. That policy change cooled demand early in the year.
China’s Spring Festival travel surge has already started. The country faces a nine-day Lunar New Year break from Feb. 15 to Feb. 23.
The Year of the Horse officially begins Feb. 17. This period typically slows production and reduces showroom visits.
NIO continues to expand its battery-swapping network where drivers exchange drained batteries for charged ones. The company also maintains traditional charging stations.
The company rolled out the newest version of its NIO WorldModel to over 460,000 vehicles as of Jan. 28. NIO described the upgrade as using closed-loop reinforcement learning, a technique that channels real-world outcomes back into the system to improve driver-assist capabilities.
Investors remain focused on rebates, marketing costs, and software expenses as competitors cut prices rapidly. Traders are waiting for clearer signals when the U.S. cash session opens and February delivery figures arrive in early March.
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