Nio, the innovative electric vehicle manufacturer, is projecting a substantial increase in vehicle sales for the fourth quarter, with expectations to exceed 30 billion yuan (approximately $4.27 billion). This optimistic outlook was shared by founder and CEO William Li during a recent offline event with customers in China.
The company’s shares listed in Hong Kong surged by 4.89% to HK$40.32 following Li’s statements, alongside a report from local media outlet 36kr that Nio plans to enhance its reliance on CATL, the leading battery producer and an investor in Nio.
Li indicated that the projected sales would reflect a remarkable growth of over 56% from the third quarter, where Nio reported 19.202 billion yuan in vehicle sales with deliveries amounting to 87,071 vehicles.
Breaking down revenue, Nio categorizes its income into vehicle sales and other sales. In the third quarter, other sales stood at 2.592 billion yuan ($364 million), showing a year-over-year increase of 31.2%, although it was a decline of 9.8% from the previous quarter. The year-over-year growth was attributed to higher revenues from used car sales, technical research and development services, and an increase in parts, accessories, and after-sales services due to a growing customer base.
Nio’s official guidance for the fourth quarter forecasts total revenue between 32.758 billion yuan ($4.6 billion) and 34.039 billion yuan ($4.781 billion), highlighting a potential increase of 66.3% to 72.8% compared to the same quarter last year. The company anticipates delivering between 120,000 to 125,000 vehicles in this quarter, translating to a 65.1% to 72% increase year-over-year, though this is a revision from an earlier target of 150,000 units.
In a significant highlight, Nio recently celebrated the delivery of its 40,000th ES8, its bestselling third-generation SUV, which launched in September. The production of the ES8 is ramping up, with Marketing Vice President Kang Kai suggesting it could reach 20,000 units in December. Co-founder Lihong Qin previously mentioned a 50% chance of surpassing 15,000 ES8 units produced in December, aligning with the ambitious targets set at Nio’s annual event in September.
Demand for the ES8 has been overwhelmingly strong, with its 2025 production run of 40,000 vehicles selling out almost instantly after Li opened orders. While specific order figures haven’t been disclosed, demand is believed to have exceeded 100,000, leading to a significant waiting period for deliveries that initially stretched to 24 to 26 weeks. Fortunately, Nio’s website indicates that this waiting time has recently reduced to 20 to 21 weeks.
As Nio continues to make strides in the electric vehicle sector, its performance in the upcoming quarter is being closely watched, with many hopeful that the positive trends in sales and demand will continue to position the company favorably within the industry.