New York, Feb 2, 2026, 05:01 EST — Premarket
NIO (NYSE: NIO) shares edged down 1.3% to $4.70 in Monday premarket trading, despite the Chinese electric-vehicle maker reporting January deliveries almost twice as high as last year. The stock closed at $4.76 in the prior session.
The monthly delivery figure provides one of the quickest snapshots investors have in China’s packed EV space. It arrives as bigger rival BYD logged its fifth consecutive monthly sales drop in January, with waning policy support weighing on sentiment throughout the sector.
Shares of Chinese automakers fell in Hong Kong following weekend sales figures, dragging sentiment into the U.S. market on Monday. Eugene Hsiao, Macquarie Capital’s head of China equity strategy, noted that “investors were likely surprised by the large degree of the domestic decline.” Reuters
NIO reported January deliveries of 27,182 vehicles. Of those, 20,894 bore the NIO badge, while the Onvo brand accounted for 3,481 and Firefly added 2,807. Total deliveries since inception hit 1,024,774 by Jan. 31. The company plans to expand its battery-swapping network—where drivers swap drained batteries for charged ones—alongside existing charging stations.
It highlighted a software update, rolling out the newest version of its NIO WorldModel to over 460,000 vehicles as of Jan. 28. NIO described the upgrade as employing “closed-loop reinforcement learning,” a technique that channels real-world outcomes back into the system to enhance driver-assist capabilities on both city roads and highways. markets.businessinsider.com
NIO hit a record with 48,135 vehicles delivered in December, but January’s numbers tell a different story—down roughly 44% from December.
January sales from other Chinese EV makers showed mixed results. Li Auto reported deliveries of 27,668 vehicles, slipping about 8% compared to last year. XPeng’s numbers dropped more sharply, with 20,011 vehicles delivered, down 34%, according to Barron’s. The decline follows the expiration of the full purchase tax exemption for electrified vehicles, which cooled demand early in the year.
The China Passenger Car Association put new-energy vehicle retail sales at about 800,000 units in January, marking a 40.2% drop from December, according to Investors.com. In China, new-energy vehicles refer to battery EVs and plug-in hybrids. The report noted that analysts usually combine January and February figures due to the shifting Lunar New Year holiday.
But NIO’s stock isn’t moving just on delivery numbers. Investors remain focused on the hit from rebates, marketing, and software expenses as competitors slash prices at a rapid pace.
Traders are waiting for clearer signals once the U.S. cash session kicks off and February delivery figures arrive early March. China’s Spring Festival travel surge has already started, leading into a nine-day Lunar New Year break from Feb. 15 to Feb. 23. The Year of the Horse officially begins Feb. 17, a period known to slow production and reduce showroom visits.
