Nio’s October deliveries grows 30.5% Y/Y

Nio (NYSE:NIO) shipped 20,976 vehicles in October 2024, bringing its year-to-date deliveries to 170,257 units in 2024.

October deliveries increased by 30.5% year-over-year, but were down roughly 1% from 21,181 vehicles shipped in September 2024. The deliveries consisted of 16,657 vehicles from the company’s premium smart electric vehicle brand NIO, and 4,319 vehicles from the company’s family-oriented smart electric vehicle brand ONVO.

Cumulative deliveries reached 619,851 as of October 31, 2024.

The EV maker also said it ramped up production and delivery of its midsize, battery-powered crossover SUV, ONVO L60, last month. As of October 31, 2024, ONVO operated 166 ONVO Centers and ONVO Spaces across 60 cities.

Rivals, Li Auto (LI) reported a 27.3% Y/Y growth in October vehicle deliveries, reaching 51,443 units, while XPeng (XPEV) achieved a new monthly record with 23,917 vehicles delivered in the month, up 20% Y/Y.

U.S.-listed ADRs of Nio (Nio) were up 1.18% premarket on Friday.