Will NIO's Vehicle Deliveries Accelerate in Q3 After a Modest July?

NIO Inc. NIO delivered 21,017 vehicles in July 2025, down from 24,925 vehicles in June 2025. The deliveries comprised 12,675 units from premium smart EV brand NIO, 5,976 units from family-oriented smart EV brand ONVO and 2,366 units from small, smart high-end electric car brand FIREFLY. As of July 31, 2025, NIO’s cumulative deliveries were 806,731 units.

The EV pioneer of China launched ONVO L90 on July 31, 2025, which is expected to boost the company’s deliveries in the third quarter. It delivered more than 4,000 units of L90 within 10 days of its launch. Currently, NIO’s ONVO manufacturing facility in Hefei, Anhui province, is running at full capacity to boost output and speed up deliveries. ONVO aims to deliver more than 10,000 L90 units in August. If NIO reaches this goal, the L90 will record the highest monthly sales of any NIO model to date.

Besides, NIO also plans to roll out the FIREFLY brand to several European countries as well as several other countries in the third quarter. As a result, NIO’s total deliveries in the third quarter are expected to boost further year over year despite registering a modest increase in July. NIO carries a Zacks Rank #3 (Hold) at present. 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

July Deliveries of NIO’s Competitors

XPeng Inc. XPEV set a new monthly record in July 2025, with 36,717 smart EV deliveries, up 229% year over year, marking its ninth straight month of surpassing 30,000 units. As of July 2025, XPEV’s cumulative deliveries have exceeded 800,000. In mid-July, XPENG introduced the 2025 models of the G6 and G9 in Europe and revealed plans to launch the P7+ in the region.

Li Auto Inc. LI reported deliveries of 30,731 vehicles in July 2025, down 39.7% year over year. By the end of July, the company’s total cumulative deliveries had reached 1,368,541 units. On July 29, 2025, Li officially unveiled the Li i8, a six-seat battery-electric family SUV.

NIO’s Price Performance, Valuation and Estimates  

NIO has outperformed the Zacks Automotive-Foreign industry year to date. Its shares have gained 16.3% compared with the industry’s growth of 3.7%. 

 
From a valuation standpoint, NIO appears relatively overvalued. The stock trades at a forward price-to-sales (P/S) ratio of 0.65, above the industry’s 0.45. 

The Zacks Consensus Estimate for 2025 bottom-line loss has widened by a penny in the past 30 days, while for 2026, it has narrowed by 5 cents in the past seven days. 

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This article originally published on Zacks Investment Research (zacks.com).

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