Written by Cláudio Afonso | LinkedIn | X
Nio announced Sunday that it delivered 20,575 vehicles in November, including 5,085 units of its mass-market sub-brand Onvo. The figures showed an increase of 28.9% from a year ago —when the Onvo brand was not yet launched— and a drop of nearly 2% from October when Nio delivered 20,976 electric vehicles.
November marked the seventh consecutive month of deliveries exceeding 20,000; however, it was also the second straight month of a decline in deliveries.
The Shanghai-based company announced during its third-quarter earnings call on November 20 that it expects to deliver between 72,000 and 75,000 vehicles in the current quarter. With a combined total of 20,976 vehicles delivered in October across its Nio and Onvo brands, the guidance implies the company anticipates delivering between 51,024 and 54,024 units in November and December combined.
Following the November numbers, the company needs now to deliver 30,449 vehicles in December to reach the low end of the guidance it provided.
At the same earnings call, Nio’s founder and CEO William Li said the company “is very confident” about the product lineup adding that volume will double next year.
“Overall speaking, we are very confident with this product and the brand lineup with that for the entire company, our soft volume next year will be doubling on top of this year’s results,” Li stated.
Onvo, which debuted its first model in May had forecasted 5,000 units for October but delivered 4,319. While no official guidance was given for November, Onvo President Alan Ai reaffirmed earlier this week that the brand expects deliveries to exceed 10,000 units in December.
In March, the company expects to deliver 20,000 units of the family-oriented SUV L60.
Onvo began nationwide deliveries on September 28, delivering 832 units in the last days three of the month. The long-range variant of the L60, equipped with an 85 kWh battery, will start being delivered in December.
Onvo is planning to launch two new vehicles in 2025. A 6-7 seat SUV will be unveiled by the end of the first quarter with deliveries starting “around May” 2025.
Written by Cláudio Afonso | LinkedIn | X
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