NIO delivered 109,178 electric vehicles in the third quarter of 2026, marking a 25.4% increase year-over-year. This result aligns with the company's guidance range of 108,000 to 111,000 units. Total deliveries for the year reached 300,301 vehicles, up 49.2% compared to the same period in 2025.
September performance showed a slowdown, with growth dropping to 7.7% year-over-year, totaling 37,408 units. This represents the slowest growth pace for the company in 2026. Monthly growth rates declined throughout the quarter, falling from 71% in July to 14.5% in August.
The ONVO brand experienced a significant decline, with deliveries falling 43% in September and 26% for the quarter, totaling 27,728 units. Conversely, the premium NIO brand saw a 69% increase in quarterly deliveries, driven by the ES8 and ES9 models. The FIREFLY brand recorded 7,327 deliveries in September.
To reach the lower end of the annual target of 456,000 vehicles, NIO would need to deliver between 155,699 and 188,699 units in the fourth quarter. This requires a monthly average of 52,000 to 63,000 vehicles, which exceeds the company's all-time monthly record of 48,135 units.
Financially, the company reported an 18.5% vehicle margin in the second quarter, compared to 10.3% a year prior. NIO also completed the sale of a 30% stake in its battery swap unit to Geely to share network costs and generate capital.
