NIO Inc. Delivers Record-High Monthly and Quarterly Deliveries in 2024

NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO), a leading global smart electric vehicle (EV) manufacturer, has announced its December, fourth quarter, and full year 2024 delivery results. The company achieved record-high monthly and quarterly deliveries, demonstrating its strong operational execution and market growth potential.

In December 2024, NIO delivered 31,138 vehicles, representing a 72.9% year-over-year increase. This new monthly high was driven by the success of both the premium NIO brand and the family-oriented ONVO brand, which contributed 20,610 and 10,528 vehicles, respectively. The ONVO brand's immediate traction, accounting for 33.8% of December deliveries, highlights NIO's effective market segmentation strategy.

The fourth quarter of 2024 saw NIO deliver 72,689 vehicles, a new quarterly record and a 45.2% year-over-year increase. This strong performance was supported by the successful launch of the ET9, NIO's smart electric executive flagship, and the upcoming firefly brand, which targets the premium small car segment. The ET9, integrating NIO's full-stack technological capabilities across 12 areas, offers flagship experiences to users in design, space, comfort, audio, intelligent systems, assisted and intelligent driving, safety, powertrain, and overall driving and riding performance. Deliveries of the ET9 are expected to commence in March 2025.

For the full year of 2024, NIO delivered 221,970 vehicles, reflecting a 38.7% year-over-year increase. Cumulative deliveries reached 671,564 as of December 31, 2024, establishing NIO as a significant player in the global EV landscape.

NIO's multi-brand strategy, which includes the premium NIO brand, the family-oriented ONVO brand, and the upcoming firefly brand, mirrors successful approaches by legacy automakers. This strategy allows NIO to target different market segments and diversify its revenue streams. By offering a range of brands with distinct positioning, NIO can cater to a broader customer base and potentially increase market share.

The company's expansion of charging infrastructure, including battery swap stations, has also supported its delivery growth and customer satisfaction. As of December 31, 2024, NIO had established 2,995 battery swap stations in China, with 949 of them located along highways. This extensive network of charging infrastructure enables NIO to provide convenient and comprehensive power solutions to its customers, enhancing their overall driving experience and satisfaction.

In conclusion, NIO Inc. has demonstrated remarkable operational execution and market growth potential with its record-high monthly and quarterly deliveries in 2024. The company's multi-brand strategy, expansion of charging infrastructure, and commitment to technological innovations have contributed to its success. As NIO continues to expand its market reach and maintain profitability, investors should monitor its progress and consider the potential benefits and risks associated with its growth strategy.