NIO's January Deliveries Jump 96% Y/Y: More Tech Investment Ahead?

NIO Inc. NIO, a leading player in the global smart EV market, reported its vehicle delivery results for January 2026. The company delivered 27,182 vehicles during the month, reflecting a 96.1% year-over-year increase. This total included 20,894 vehicles under the premium NIO brand, 3,481 units from its family-focused ONVO brand and 2,807 vehicles from its high-end compact electric brand, FIREFLY. As of Jan. 31, 2026, cumulative deliveries reached 1,024,774 units.

On Jan. 28, 2026, NIO launched the latest version of its NIO WorldModel, which has been progressively rolled out to more than 460,000 vehicles equipped with the Banyan system, with updates for Cedar and Cedar S systems planned next. The upgrade introduced full closed-loop reinforcement learning for assisted and intelligent driving, enabling more comprehensive modeling of both urban and highway scenarios. Enhancements were also made to smart parking and active safety features, delivering smoother performance and an improved user experience. 

In January 2026, NIO surpassed 1 million cumulative deliveries, marking a significant milestone in the company’s growth. NIO plans to continue investing in core smart EV technologies while further expanding its battery swapping and charging infrastructure, which aims at delivering enhanced smart EV experiences to a wider user base and contributing to a more sustainable future. 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.

January 2026 Delivery Performance of NIO’s Peers

XPeng Inc. XPEV delivered 20,011 vehicles in January 2026 compared with 30,350 units in January 2025. The latest deliveries are expected to cut life-cycle greenhouse gas emissions by more than 300,000 tons, an environmental impact comparable to the carbon absorption of 4.94 million tree seedlings over 10 years. During the month, XPeng also launched the P7+ across 36 countries and debuted the model in Europe at the 2026 Brussels Motor Show. As of Dec. 31, 2025, XPeng had expanded its international footprint to 60 countries and regions worldwide.

Li Auto Inc. LI reported deliveries of 27,668 vehicles in January 2026, down from 29,927 vehicles in January 2025. Li Auto’s cumulative deliveries reached 1,567,883 units as of Jan. 31, 2026. Li Auto also released its OTA update version 8.2, which introduced 40 new features and 25 performance enhancements, upgrading its assisted driving, smart cabin, and electric systems. Additionally, the updated VLA Driver large model enhanced the system’s ability to interpret real-world driving conditions, enabling more natural navigation in complex urban environments.

NIO’s Price Performance, Valuation and Estimates

NIO has underperformed the Zacks Automotive-Foreign industry in the past six months. Its shares have risen 1.1% compared with the industry’s growth of 14.8%. 

 
From a valuation perspective, NIO appears undervalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.47, lower than the industry’s 0.61.

 
The Zacks Consensus Estimate for NIO’s 2025 and 2026 loss per share has widened by a penny and 13 cents, respectively, in the past 60 days. 

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

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