- The Nio main brand delivered 9,143 vehicles in February, up 14.99 percent from 7,951 in January.
- The Onvo sub-brand delivered 4,049 vehicles in February, down 31.51 percent from 5,912 in January.
Nio Inc (NYSE: NIO) saw a slight decline in deliveries in February from January, as the Nio main brand rebounded while the Onvo sub-brand continued to decline.
The electric vehicle (EV) maker delivered 13,192 vehicles in February, up 62.22 percent from 8,132 a year ago, but down 4.84 percent from 13,863 in January, according to data released today.
The performance was mainly dragged down by the sub-brand Onvo, while the Nio main brand saw a rebound.
The Nio main brand delivered 9,143 vehicles in February, up 12.43 percent from 8,132 in the same month last year and up 14.99 percent from 7,951 in January.
The Onvo sub-brand delivered 4,049 vehicles in February, down 31.51 percent from 5,912 in January.
The beginning of the year is usually a slow period for the Chinese automotive industry, especially in the months where the New Year holiday falls. This year's Chinese New Year holiday was from January 28 to February 4, compared with February 10-17 last year.
In January-February, Nio Inc delivered 27,055 vehicles, up 48.76 percent from 18,187 in the same period last year.
The Nio main brand delivered 17,094 vehicles in January-February, down 6.01 percent from 18,187 in the same period last year.
The Onvo sub-brand delivered 9,961 vehicles in January-February.
Nio Inc's cumulative deliveries since inception stand at 698,619, including 667,897 vehicles under the Nio main brand and 30,722 under Onvo.
Onvo officially launched its first model, the L60, on September 19, 2024, and the electric SUV (sport utility vehicle) is a Tesla (NASDAQ: TSLA) Model Y competitor, with deliveries beginning on September 28 of last year.
Earlier today, Onvo introduced a 5-year, 0-interest financing program, but eliminated the BaaS (battery as a service) billing offer available in February, resulting in a scaled-back overall offer.
Onvo began teasing its new model, the L90, last month, saying the SUV is its flagship product and is scheduled to be unveiled in the second quarter and officially launched in the third quarter.
The Nio main brand earlier today extended its five-year, 0-interest financing program to March 31, after the purchase incentive expired yesterday.
Nio Inc will have new product launches every quarter from the second to the fourth quarter, William Li, the company's founder, chairman and CEO, said on February 8.
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