Nio Stock Crushes Tesla, BYD, Other EV Rivals In August With 36% Rally As Deliveries Hit Record Highs

Nio outperformed all major auto peers in August, recording the biggest one-month return while rivals such as Li Auto and BYD lagged behind.

U.S.-listed shares of the Chinese EV maker were up 35.5% for the month, outperforming gains in XPeng, which rose 14%, along with 4% gains for both Tesla and Rivian, as well as 0.4% for Xiaomi, and losses of 15% each in both Li Auto and BYD.

The Chinese EV maker also recorded its best-ever monthly deliveries, sending 31,305 vehicles to customers last month, representing year-on-year growth of 55% and an increase of 49% from July, after the company surpassed the record it set in December last year, according to a CnEVPost report. 

The performance was driven by sub-brands Onvo and Firefly, both of which hit record highs. Onvo delivered 16,434 units, including 10,575 of the new L90 SUV, which launched on July 31 and began deliveries the following day. 

The L90 became the fastest model in Nio's history to cross 10,000 units in its first month. Firefly delivered 4,346 vehicles in August, an 84% increase from July. The company began sales in Norway and the Netherlands, and sold out a 333-unit limited edition in China within 30 hours. The main Nio brand was weaker, delivering 10,525 vehicles in August, down 48% from the same period a year earlier and 17% from July.

From January to August, Nio delivered 166,472 vehicles, up 30% from the prior year, including 54,272 from Onvo and 14,555 from Firefly. Cumulative deliveries stood at 838,036 by the end of August. 

In 2024, the company delivered 221,970 vehicles, up 39% from 2023, spanning both its premium Nio brand and the lower-cost Onvo line launched in May 2024.

The company began pre-sales of its third-generation ES8 SUV on Aug. 21 ahead of an official launch at Nio Day in late September. CEO William Li said reservations were strong, even exceeding those for the Onvo L90.

Meanwhile, JPMorgan upgraded Nio to 'Overweight' from“Neutral” in August, raising its price target to $8 from $4.8. The bank's equity research arm highlighted three upcoming events: the release of second-quarter results on Sept. 2, the formal launch of the ES8 at Nio Day on September 20, and the anticipated unveiling of the Onvo L80 SUV at the Guangzhou Auto Show in November. It forecast Nio's vehicle deliveries would grow 50% in 2025 and 47% in 2026.

On Stocktwits, retail sentiment for Nio has stayed bullish for a year, with message volume climbing from“low” to“high” since mid-August.

Nio's U.S.-listed stock has risen 46% so far in 2025.

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