Image: NioNio delivered 83,465 vehicles in the first quarter of 2026, marking a 98.3% increase compared to the first quarter of 2025. However, compared to Q4/2025, the number declined by 33.1%. The deliveries included 58,543 Nio vehicles, 13,339 Onvo units, and 11,583 Firefly EVs.The significant difference between the fourth quarter of 2025 and the first quarter of 2026 is likely due to seasonal effects. The fourth quarter is traditionally the strongest in China, while the first quarter tends to be weaker, partly because of the Chinese New Year festival. Additionally, China’s electric vehicle subsidies were reduced at the turn of the year.These sharp fluctuations in deliveries are naturally reflected in the financial data. Revenue in Q1 2026 amounted to 25.53 billion yuan (approximately 3.2 billion euros), representing a 112.2% increase compared to the first quarter of 2025 and a 26.3% decline compared to the fourth quarter of 2025.Nio also appears to have gained better control over costs. After achieving its first-ever profit in the fourth quarter of 2025 (both operating and net), the company reported a net loss this time. However, this loss was significantly reduced to 332.1 million yuan (approximately 42 million euros), compared to a net loss of 6.75 billion yuan (approximately 854 million euros) in Q1 2025 and a net profit of 282.7 million yuan (approximately 36 million euros) in Q4 2025.“We are encouraged by the continued improvement across all key operating metrics. Looking ahead, we will further enhance cost and operational efficiency while strengthening our sustainable business capabilities,” said Stanley Yu Qu, Nio’s Chief Financial Officer.Nio highlights several positive developments, including the vehicle margin, which reached 18.8% in the first quarter of 2026, up from 10.2% in the first quarter of 2025 and 18.1% in the fourth quarter of 2025. A key product highlight for the future is Nio’s new flagship SUV, the ES9. Its official market launch and deliveries are scheduled for 27 May 2026.“The ES9, featuring over 40 industry-first technologies and nearly 40 class-leading configurations, is set to usher in the era of battery electric vehicles for executive flagship SUVs,” the company stated.“After eleven years of sustained investment and dedication, the Company has built comprehensive systematic innovation capabilities, serving as the core foundation for us to continuously launch innovative products and strengthen our long-term competitiveness,” said Nio CEO William Li.For the second quarter of 2026, the company expects between 110,000 and 115,000 vehicle deliveries, which would represent an increase of approximately 52.7% to 59.6% compared to the same quarter last year. This would correspond to total revenue of between 32.8 billion yuan (approximately 4.1 billion euros) and 34.4 billion yuan (approximately 4.4 billion euros), marking an increase of about 72.4% to 81.2% compared to the same quarter last year.nio.com
