New York, Jan 10, 2026, 08:34 EST — Market closed
NIO Inc’s U.S.-listed shares dropped again on Friday, slipping 1.9% to $4.64. The Chinese EV manufacturer underperformed as broader markets gained, with its ADRs now roughly 42% off the 52-week peak. Uncertainty around China’s demand outlook weighed on the stock heading into the weekend.
China’s car sales are forecast to hold steady in 2026, following a 3.9% increase last year, according to the China Passenger Car Association on Friday. Sales of electric and plug-in hybrid vehicles—those running partly or fully on electricity—jumped 17.6% in 2025, a slowdown from 40.7% growth in 2024, after some local governments cut or paused trade-in subsidies. Exports climbed 19.4% to 5.79 million vehicles in 2025, with BYD selling over 1 million cars overseas. Still, the association’s secretary-general warned that EV export growth is expected to decelerate.
NIO plans to expand into right-hand-drive markets beyond China. The company aims to launch in Australia and New Zealand in the latter half of 2026 and enter Thailand in March with its Firefly-branded vehicles, Chris Chen, head of global business, told the Wall Street Journal. “We started expanding our business globally toward the end of 2024, with a focus on entering more overseas markets beyond Europe,” Chen said. Wall Street Journal
Founder and CEO William Li announced on X on Jan. 8 that Firefly had “officially entered the Singapore market” and that pre-orders are now open. X (formerly Twitter)
On Friday, the ADR fluctuated between $4.62 and $4.75, finally settling at $4.64, down from Thursday’s close of $4.73, per Yahoo Finance data. Investors are eyeing the $4.60 support level while also seeing if the stock can push back above the $4.80-$4.85 range tested earlier this week.
The immediate question is straightforward: can NIO expand internationally without sacrificing domestic margins? Investors have shown little patience for EV companies that boost volume by slashing prices while still posting losses.
Yet expanding overseas demands both time and cash, and the China price war might intensify if incentives drop more or competitors flood the market with new models. A bigger jump in U.S. yields would also weigh on high-beta stocks — the ones that typically fluctuate more than the broader market.
Next week kicks off with the macro data. The U.S. consumer price index for December hits Tuesday at 8:30 a.m. ET, with producer prices set for Wednesday, per the Labor Department’s calendar.
Company-specific catalysts are scarce. NIO hasn’t announced when it will release its next quarterly results, though Wall Street Horizon suggests an unconfirmed date of March 20 for the fourth-quarter report.
