NIO Inc. NIO reported deliveries of 37,705 vehicles in May 2026, up 62.3% from the prior-year period. The total included 20,013 vehicles from the NIO brand, 12,029 from the ONVO brand and 5,663 from the FIREFLY brand. As of May 31, 2026, the company’s cumulative deliveries had reached 1,148,118 vehicles.
Beginning in the second quarter, all three brands entered an accelerated phase of product launches and deliveries, a trend that is expected to drive sustained strong growth in vehicle deliveries. For the second quarter of 2026, NIO expects vehicle deliveries to range between 110,000 and 115,000 units, representing year-over-year growth of approximately 52.7% to 59.6% compared with the same period in 2025.
The company launched the ONVO L80, its smart flagship five-seat SUV, on May 15, with customer deliveries beginning the following day. The ONVO L80 model combines innovative interior design, advanced intelligent technologies and access to NIO’s charging and battery-swapping network, helping address customer needs related to space, travel and energy replenishment. The L80 has received strong market feedback and is contributing to the adoption of battery electric vehicles in the large five-seat SUV segment.
On May 27, the company unveiled the ES9, its flagship executive SUV and its deliveries commenced on May 28. The model combines advanced intelligent features, executive-level comfort and space, a 900V high-voltage architecture and NIO’s charging and battery-swapping ecosystem. The ES9 is expected to strengthen NIO’s competitive position in the premium segment and represents a culmination of more than a decade of innovation.
Its All-New ES8 ranked first in sales among vehicles priced above RMB 400,000 across all powertrain categories for the fifth consecutive month as of May 2026, reinforcing its position in the premium vehicle market. 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.
May 2026 Deliveries of NIO’s Competitors
XPeng Inc. XPEV delivered 32,158 vehicles in May, marking a 4% year-over-year decline. The company estimates that the electric vehicles it delivered between January and May 2026 will cut lifecycle greenhouse gas emissions by more than two million tons compared with conventional internal combustion engine vehicles. This reduction is comparable to the carbon-capturing effect of approximately 33.16 million young trees grown over a decade.
Li Auto Inc. LI delivered 33,350 vehicles in May 2026, representing a decrease of 18.4% from the same period last year. By May 31, 2026, the company's cumulative deliveries had reached 1,702,792 vehicles. In May, Li Auto introduced and began delivering the redesigned Li L9, kicking off a new product refresh cycle for its Li L series lineup. The new Li L9 garnered more than 10,000 orders within two weeks of launch.
NIO’s Price Performance, Valuation and Estimates
NIO has outperformed the Zacks Automotive-Foreign industry year to date. Its shares have surged 17.3% against the industry’s decline of 12.2%.
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From a valuation perspective, NIO appears overvalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 0.66, slightly higher than the industry’s 0.62.
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The Zacks Consensus Estimate for NIO’s 2026 loss per share has narrowed by 8 cents in the past 30 days, while the 2027 loss per share improved to breakeven earnings.
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