ES8 drove volumes, while Onvo and Firefly saw steep sequential declines.
- January sales data pressured Chinese EV stocks across the board.
- Nio’s deliveries jumped year-on-year but fell sharply from December.
- The third-generation ES8 SUV delivered 17,646 units during the month, accounting for nearly 65% of total deliveries.
Shares of Nio slid nearly 6% in Hong Kong trading on Monday, trading in line with a broad sell-off witnessed across Chinese electric vehicle stocks, even after the company posted a sharp jump in January deliveries.
Other Chinese EV makers, including XPeng dropped nearly 9%, Li Auto fell around 4%, and BYD slid roughly 8% as investors digested fresh sales data from across the sector.
China EV Opens The Year On A Soft Note
The plunge comes after January delivery numbers suggested a bumpy start to 2023 for much of China’s EV sector.
BYD, China’s biggest new energy vehicle producer, sold 210,051 cars in January, down 30.1% annually. XPeng made 20,011 deliveries, down 34.1% on an annual basis and plunging 46.7% from December.
Meanwhile, Li Auto made 27,668 deliveries, marking its eighth straight year-on-year drop, while sales also slumped 37.5% from the previous month.
Nio’s Delivery Growth Fails To Lift Stock
Nio’s delivery volume against that backdrop still stood out, at least when compared with the prior year. The firm said it delivered 27,182 vehicles in January 2026, up 96.1% from a year earlier. However, deliveries declined 43.5% from December, which weighed on investor sentiment.
Of those deliveries, 20,894 were Nio-branded vehicles, 3,481 were from its family-oriented sub-brand Onvo, while 2,807 were from its small EV brand Firefly. Cumulative sales rose to 1.02 million as of the end of January, surpassing the one-million-vehicle milestone.
ES8 Emerges As The Standout
Much of Nio’s January performance rested on a single model. The third-generation ES8 SUV delivered 17,646 units during the month, accounting for nearly 65% of total deliveries. This is a dramatic increase from the 446 units delivered in January last year, reflecting the rapid ramp-up following the model’s launch at Nio Day in September 2025.
Even so, ES8 deliveries were down about 21% from December’s record 22,258 units, when the model became China’s best-selling large SUV, according to the company. Nio also said it recently delivered its 60,000th third-generation ES8, just two weeks after reaching the 50,000-unit milestone.
Deliveries at Onvo fell more than 61% from December, while Firefly deliveries dropped over 60% month-on-month. More detailed model-level data is expected later this month.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment for Nio was ‘extremely bullish’ amid ‘extremely high’ message volume.
One user described the sell-off as an “excellent buying opportunity,” saying they were preparing to add to their position and would increase purchases if the stock dropped further.
Another user said, “looking like the es8 may be the savior of this company.”
Nio’s U.S.-listed stock has risen 6% over the past 12 months.
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