It was the second consecutive month of record monthly deliveries for Nio, sending quarterly deliveries to a rare beat of its guidance range.
Nio (NYSE: NIO) delivered a record number of vehicles last month, sending second-quarter deliveries unexpectedly above guidance.
The electric vehicle (EV) maker delivered 21,209 vehicles in June, beating May's previous record of 20,544 vehicles for its second consecutive record month, according to data it released today.
That's up 98.09 percent from the 10,707 vehicles delivered in the same month last year and up 3.24 percent from May.
Nio's strong performance in June may have been due to the continued positive impact of the tweaks it made to its BaaS (battery as a service) battery rental service in March, as well as the overall rebound in China's EV industry.
The company delivered a record 57,373 vehicles in the second quarter, surpassing the previous record of 55,432 vehicles in the third quarter of 2023. This is an increase of 143.93 percent year-on-year and up 90.91 percent from the first quarter.
The quarterly deliveries exceeded the upper end of the guidance range of between 54,000 and 56,000 vehicles provided by Nio when it announced its first-quarter results on June 6.
Nio had previously guided second-quarter revenue to be between RMB 16.59 billion ($2.28 billion) and RMB 17.14 billion, representing growth of about 89.1 percent to 95.3 percent from the same period in 2023.
The company currently delivers eight models -- ES8, ES7, ES6, EC7, EC6, ET7, ET5, ET5 Touring -- of which the first five are SUVs and the last three are sedans. Deliveries of the ET9 sedan, which was announced in December last year, is set to begin in the first quarter of 2025.
Nio's SUVs saw a dip in deliveries in June, offset by growth in sedan models.
Its SUVs delivered 11,581 vehicles last month, up 81.44 percent year-on-year but down 4.79 percent from May.
Sedan models delivered 9,628 last month, up 122.66 percent year-on-year and up 14.89 percent from May.
In the first half of the year, Nio delivered 87,426 vehicles, up 60.24 percent year-on-year.
SUV models delivered 50,371 units in the first half of the year, up 140.76 percent year-on-year, contributing 57.62 percent of all deliveries.
Sedan models delivered 37,055 vehicles in the first half of the year, up 10.15 percent year-on-year, contributing 42.38 percent of all deliveries.
Since its inception, Nio's cumulative deliveries stand at 537,020 vehicles, according to data compiled by CnEVPost.
In addition to Nio-branded vehicles, the company is set to begin delivering models under its sub-brand Onvo in the third quarter.
Nio officially launched the Onvo brand on May 15 and began pre-sales of the Onvo L60 at that time at a pre-sale price of RMB 219,900.
The EV maker said at the time that the official launch and delivery of the Onvo L60 would take place in September, but did not mention a specific date.
Local media outlet Internet Info Agency said in a June 19 report that the Onvo L60 would be officially launched on September 10.
($1 = RMB 7.2684)
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