On November 20 during the Q3-24 earnings call, NIO revealed its Q4 target of 72,000 to 75,000 deliveries, which implies a year-over-year increase of 44% to 50%, respectively.
In October 2024, the company delivered 16,657 NIO and 4,319 Onvo vehicles, for a total of 20,976 units.
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To meet the lower guidance, the company will need to deliver at least 51,024 vehicles and 54,024 vehicles to exceed to upper guidance.
NIO’s previous record quarter was in Q3 of 2024, with 61,855 vehicles delivered.
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Last Q4 of 2023, the company delivered 50,045 vehicles. This year, having launch its sub-brand Onvo, the two brands are expected to exceed the 70,000 units mark for the first time.
Management also expects Onvo to be a major contributor to growth, eyeing to deliver more than 10,000 units in December, and over 20,000 units in a single month by March 2025.
Source: NIO
NIO CEO William Li also revealed that the existing NIO models will gradually be upgraded to their 3rd platform, called NT3.0, starting with the ET9, to be launched in Q1-25.
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Onvo will also launch two vehicles, a medium-to-large size 6-7 seater SUV, positioned to compete against Li Auto L7/L8 and a large five-seater SUV.
The company has also officially confirmed its third brand’s name, Firefly, which has been its codename since early communications.