NEW YORK, July 26, 2026, 16:02 EDT — U.S. markets ended trading for the day.
- NIO ended Friday at $4.49, falling 3.2% for its seventh consecutive loss.
- The stock dropped 8.0% over the week, compared with a 2.1% loss for the Nasdaq.
- NIO posted a 49.4% increase in second-quarter deliveries, falling short of its lower-end guidance by 2.1%.
NIO Inc.’s American depositary receipts closed at $4.49 on Friday, a decrease of 3.2%. The decline marked the seventh consecutive session of losses. Over the week, the stock dropped 8.0%.
The Nasdaq Composite dropped 2.1% during the same week. As a result, NIO’s decline was almost four times steeper than the tech-focused index. This occurred even though NIO reported the highest June delivery growth compared to other U.S.-listed Chinese rivals.
The movement in price indicates investors are applying tougher criteria. Increased volume must now maintain margins and underpin steady profit. NIO’s delivery miss for the quarter kept that issue unresolved.
XPeng Inc. NYSE:XPEV came close to NIO’s June sales numbers. Li Auto Inc. NASDAQ:LI recorded lower volumes than both, but its stock performed more steadily over the past week.
| Company | July 24 close | Weekly change | June deliveries | Year-on-year change |
|---|---|---|---|---|
| NIO | $4.49 | -8.0% | 40,597 | +62.9% |
| XPeng | $12.33 | -8.9% | 40,126 | +15.9% |
| Li Auto | $12.12 | -2.2% | 30,895 | -14.8% |
Weekly shifts are based on closing prices from July 17 and July 24.
Delivery numbers are as reported by each company. XPeng and Li Auto year-on-year growth estimates are based on June 2025 figures.
NIO’s June deliveries surpassed XPeng by just 471 units, but its annual growth rate was nearly four times higher. Li Auto sold 9,702 fewer vehicles; however, its share price dropped by just 2.2%.
Some of the caution stems from execution during the quarter. NIO reported deliveries of 107,658 vehicles in the second quarter, marking a 49.4% increase. However, that figure was still 2.1% under the management’s guidance floor of 110,000 units.
The ES8 five-seater is now included in the July test. Pricing begins at 382,800 yuan, or 274,800 yuan when opting for battery rental. Deliveries started on July 10, and the launch incentives end on July 31.
Initial data appears more solid. NIO reached its 130,000th delivery of the third-generation ES8 on July 22. Delivering the most recent 10,000 units required one month.
Deliveries of the ES8 in June dropped 21.9% from May to 8,969 units. Some customers postponed buying as they waited for the launch of the five-seat model. The entry-level price of the new version is 5.9% less than that of the three-row variant.
Early estimate: According to Wang Bin’s team at Deutsche Bank NYSE:DB, new orders for June were close to 77,000, down 8% from May, per third-party weekly figures. NIO has yet to verify this estimate.
Preliminary first-quarter figures indicated a vehicle margin of 18.8%. Gross margin was 19.0%, with adjusted operating profit recorded at 66.8 million yuan. The impact of the more affordable ES8 on those gains will become clear with July’s product mix.
Goldman Sachs NYSE:GS analyst Tina Hou raised her rating on NIO to Buy as of July 13. Her price target of $7 suggests a potential upside of 56% from Friday’s close. After initially rising on the upgrade, the shares have since given up those gains.
Two deadlines are coming up this week. The Federal Reserve will hold its meeting on July 28 and 29. Following that, NIO’s ES8 purchase-benefit period ends on July 31.
Risks persist. Chief Executive William Li stated that inflation in raw materials has increased the cost of each ES8 by close to 20,000 yuan. “In the short term, this is still within what we can bear,” he said. An extended period of price competition may reduce that margin. CnEVPost
