NIO Delivers Record 191,000 Vehicles in H1, Driven by Synergy of Three EV Brands

On July 1, NIO announced it delivered 40,597 vehicles in June, a year-over-year increase of 62.9%, marking the highest monthly delivery volume in 2024. In the first half of the year, NIO delivered a total of 191,123 vehicles, up 67.4% year-over-year, setting a new record for the same period in company history. This strong performance contrasts sharply with the broader domestic passenger vehicle market, which saw an overall decline—retail sales fell 19.5% year-over-year from January to May, and dropped another 23% year-over-year in the first 21 days of June. Amid widespread industry pressure, NIO has emerged as one of the few leading automakers achieving significant positive growth. Its growth aligns closely with trends in the battery-electric vehicle (BEV) segment: in May, the national retail penetration rate of new energy vehicles reached 62.9%, with BEVs accounting for 42.2% of total passenger vehicle sales—the only powertrain type showing year-over-year growth—and outselling range-extended electric vehicles by approximately 7.5 times. In premium segments such as vehicles priced above RMB 400,000, large three-row SUVs, and spacious five-seater SUVs, BEVs continue to lead in sales. NIO remains firmly committed to its pure electric strategy, with its three brands targeting distinct market segments. The NIO brand focuses on the premium market above RMB 400,000: the ES8 has surpassed 120,000 cumulative deliveries and has ranked #1 in total category sales within its price bracket for six consecutive months; the newly launched ES9 achieved over 10,000 deliveries within 30 days of launch, setting a new delivery record for BEVs priced around RMB 500,000; and the five-seat version of the ES8 will debut in early July. The ONVO brand targets the family-oriented market between RMB 200,000 and RMB 300,000, delivering over 42,000 vehicles in the first half of the year—a 33.3% year-over-year increase—with an average transaction price consistently above RMB 250,000 and a resale value retention rate of 81.5% in May, the highest in the industry. The Firefly brand serves the premium compact car segment, delivering more than 29,000 units in H1, a surge of 271.9% year-over-year, capturing a 72% market share and ranking #1 in its segment for 13 consecutive months. Optimization of NIO’s product portfolio has driven improved revenue quality. The NIO brand’s average transaction price was RMB 390,000 in Q1 and RMB 382,000 in May, and is expected to rise above RMB 450,000 in June. The company has reported profitability for two consecutive quarters. To date, NIO has built over 9,000 charging and battery swap stations, providing more than 110 million battery swaps cumulatively. On the technology front, in June NIO completed a large-scale rollout of its “NIO World Model,” reaching over 700,000 users.