TLDR
- NIO handed over 40,397 electric vehicles in October, a new company record
- Monthly deliveries jumped 92.6% compared to October 2024
- Stock price increased 4.6% on Monday in Hong Kong trading
- Sequential growth of 16% from September to October 2025
- Onvo and Firefly sub-brands contributed to the delivery milestone
NIO posted record-breaking delivery numbers for October 2025. The Chinese electric vehicle manufacturer handed over 40,397 vehicles during the month.
This marks the first time the company has exceeded 40,000 deliveries in a single month. Shares responded positively, climbing 4.6% to HK$57.1 in Hong Kong.
The October figure represents a 92.6% increase from the same period last year. Month-over-month, deliveries grew 16% from September’s total.
NIO pointed to robust demand across its vehicle range. The company’s expanding lineup includes multiple models targeting different customer segments.
New Sub-Brands Drive Growth
Two new sub-brands played a key role in October’s success. Onvo focuses on mid-range vehicles while Firefly targets the compact market.
This strategy allows NIO to reach customers at various price points. The approach differs from the company’s traditional focus on premium electric vehicles.
The broader market positioning appears to be working. Both sub-brands contributed to the record-breaking monthly performance.
Weekly performance shows momentum building. The stock gained 5.1% over the seven-day period ending Monday.
However, the one-month view tells a different story. Shares are still down 5.8% over the past 30 days.
Market Context and Competition
The year-to-date picture looks stronger. NIO shares have risen 59.3% since January 2024.
XPeng, a direct competitor, also reported strong October results. The company delivered 42,013 vehicles, marking a 76% year-over-year increase.
XPeng’s stock jumped 4.8% to HK$91.4 on the same day. The company credited its X9 MPV and G6 SUV models for the performance.
Both manufacturers are racing to capture market share. China’s electric vehicle sector remains highly competitive with multiple players vying for dominance.
Financial Metrics and Valuation
Despite delivery success, some valuation concerns persist. Current analysis suggests the stock may trade above fair value.
A discounted cash flow model places intrinsic value around $6.18 per share. This indicates roughly 17.2% overvaluation at current prices.
The company operates with negative free cash flow of approximately CN¥20.2 billion. Analysts expect this to turn positive by 2029, reaching CN¥8.26 billion.
Price-to-sales ratio currently sits at 1.84x. The broader auto industry averages 1.25x while NIO’s peer group averages 1.89x.
NIO delivered 40,397 vehicles in October 2025, surpassing the 40,000-unit threshold for the first time as sub-brands Onvo and Firefly helped drive a 92.6% year-over-year increase.
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