NIO April deliveries up 22.8% as Q1 momentum fades
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- NIO delivered 29,356 vehicles in April 2026, a 22.8% YoY increase that pushed cumulative deliveries past 1.1 million and lifted YTD volume to 112,821 (up 71.0% vs. 2025).
- April's 22.8% growth represents a sharp deceleration from Q1 2026's 98.3% YoY surge (83,465 deliveries) — March alone hit 35,486 units at 136% growth, making April down roughly 17% sequentially.
- NIO's three sub-brands all slipped from March: NIO premium at 19,024 (vs. 22,490), ONVO at 5,352 (down 22% from 6,877), and Firefly at 4,980 (down 19% from 6,119).
- The All-New ES8 reached 100,000 cumulative deliveries in 215 days, setting a record for premium vehicles priced above RMB 400,000 (~$55,000) in China.
- NIO opened ES9 pre-sales on April 9 (from RMB 528,000/~$77,000, or RMB 420,000/~$61,000 under BaaS) with deliveries beginning June 1, then launched ONVO L80 pre-sales April 28 at RMB 245,800 (~$36,000) — undercutting Tesla's Model Y by roughly RMB 17,700 with 605 km of CLTC range.
- NIO's positive growth stands out against a declining field: BYD fell 15.5% YoY (8th straight month of declines) on 321,123 NEV sales, XPeng dropped 11.5% to 31,011, and Li Auto was flat at 34,085.
Why it matters: NIO is the only major Chinese EV maker posting positive YoY growth in April while BYD (down 15.5%), XPeng (down 11.5%), and Li Auto (flat) all contract — but the 17% sequential drop from March and ONVO and Firefly losing ground show Q1's 98.3% pace isn't sustainable. With CEO William Li conceding Q2 faces pressure, the June 1 ES9 launch and ONVO L80's aggressive Model Y pricing are now NIO's only near-term levers to re-accelerate before profitability questions intensify.
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