NIO Stock Drops as June Delivery Beat Fails to Lift Sentiment

TLDR

• NIO delivered 40,597 vehicles in June, up 63% year over year, but the stock fell 2.6% in premarket trading
• Q2 2026 total deliveries hit 107,658 vehicles, a 49.4% increase year over year, with cumulative deliveries now at 1.18 million
• XPeng delivered 40,126 vehicles in June, up 16% YoY — its stock rose 2% premarket
• Li Auto was the weak link, with June deliveries down 15% YoY to 30,895 vehicles
• BYD sold 397,292 passenger vehicles in June but EV sales dipped 3% YoY as the domestic market slows

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NIO reported strong delivery numbers for June 2026, but the market wasn’t impressed. The stock slid 2.6% in premarket trading on Wednesday despite a 63% year-over-year jump in deliveries.

In June 2026, NIO Inc. delivered 40,597 vehicles, sets a new high for this year, representing an increase of 62.9% year-over-year. The deliveries consisted of 21,908 vehicles from the premium smart electric vehicle brand NIO, up 50.1% year-over-year; 11,743 vehicles from the… pic.twitter.com/Nc27X1dzYc

— NIO (@NIOGlobal) July 1, 2026

NIO delivered 40,597 vehicles in June, up 8% from May. For the full second quarter, the company shipped 107,658 cars — slightly ahead of its own guidance and up 49.4% year over year.

Cumulative deliveries across its NIO, ONVO, and FIREFLY brands now stand at 1,188,715 units. The All-New ES8 crossed 120,000 cumulative deliveries, and the ES9 hit 10,000 units within its first 30 days on the market.

NIO Inc., NIO

The stock’s dip likely reflects high expectations going into the print. NIO had been up 44% over the prior 12 months coming into Wednesday, so there was a lot of good news already priced in.

Chinese EV Trio Posts Combined 111,618 June Deliveries

NIO wasn’t alone in posting strong numbers. XPeng and Li Auto also reported June figures, and the three companies combined for 111,618 deliveries — up 16% year over year and the best monthly growth rate since March.

XPeng delivered 40,126 vehicles in June, up 25% month over month and 16% year over year. Its Q2 total of 103,295 came in right at guidance. XPeng stock was up 2% in premarket, a contrast to NIO’s slide.

Li Auto was the outlier. It delivered 30,895 vehicles in June, down 7% from May and down 15% from a year ago. Its Q2 total of 98,330 was close to guidance, but falling annual sales have weighed on the stock — Li is down 56% over the past 12 months.

For the year so far, the three companies have delivered 550,572 vehicles combined, up about 7% from the same period in 2025.

BYD Exports Rise as Domestic Demand Slows

BYD sold 397,292 passenger vehicles in June, including 201,472 fully electric cars. Total car sales rose 5% year over year, but EV sales specifically dipped 3%.

The company has been sending roughly 40% of its output overseas as demand inside China cools. Overall new car sales in China dropped around 7% in Q1 2026, according to Citi analyst Jeff Chung.

BYD’s Hong Kong-listed stock wasn’t trading on Wednesday due to a public holiday. Coming into the week, it was down 24% year to date and 41% over the past 12 months.

On the technology side, NIO rolled out the latest version of its NIO WorldModel intelligent driving system to more than 700,000 users. The company says it’s the first in the industry to run parallel development across both general-purpose and in-house chip platforms.