NIO delivered 15,493 vehicles in November, a 3% year-over-year decline. On the other hand, ONVO saw sales of its electric vehicles (EVs) jump by 18% month-over-month to 5,082 units.

In November, NIO delivered 15,493 electric vehicles, a 2.9% decrease from the 15,959 units shipped in the same period last year and a 7% decline from October’s figures. Onvo, the entry-level subbrand, saw a notable increase in its electric vehicle (EV) deliveries, reaching 5,082 units in November, representing a significant 17.7% year-over-year surge compared to the 4,319 EVs delivered in October? For the second time in as many months, Nio’s gross sales have declined for its iconic model.

Last week, Onvo President Alan Ai confirmed that the company is targeting a supply of over 10,000 units by the end of December. To realize this objective, Onvo aims to boost its gross sales by a remarkable 100% on a monthly basis.

The Onvo brand’s flagship product is the L60 SUV, which debuted in China in September and directly challenges Tesla’s Model Y. The prices start at ¥206,900 (approximately $28,580 USD) for the base trim, featuring a 60 kWh BYD Blade Battery, an Nvidia Drive Orin processor, and a 240 kW rear electric motor producing 322 horsepower. The dimensions of this object are (length/width/height) 4828mm/1930mm/1616mm, with a wheelbase measuring 2950mm?

By the end of 2024, Onvo’s production capacity is expected to reach 10,000 units per month by December, increasing to 16,000 units by January 2025 and ultimately hitting 20,000 units by March 2025, as announced by Nio CEO William Li in September.

Automakers sold a total of 19,077 new vehicles in November, representing a decline of 1.9% from the 20,976 units moved in October, but an increase of 28.9% compared to the 15,959 models sold during the same period last year?

By the end of 2024’s first eleven months, Nio had successfully delivered 190,832 electric vehicles, representing a significant surge of 34.4 percent compared to the same period in the previous year. NIO’s ES6 model accounted for a significant portion of their overall sales, with a total of 180,599 units delivered, whereas Onvo, since its launch in September, has recorded cumulative deliveries of just 10,233 models.

NIO’s preliminary target for 2024 stands at a significant 230,000 units of electric vehicles sold. In its latest autumn production guidance, NIO announced a target of producing 72,000 to 75,000 electric vehicles. To meet its year-end targets, the corporation will need to deliver approximately 30,449 vehicles in December.

NIO will unveil its third model, the Firefly, on December 21 during its annual NIO Day celebration. Initially intended for a European debut, Nio planned to launch an electric hatchback tailored to the continent’s market, aiming to rival the Volkswagen ID.3. However, the company shifted gears in response to disappointing European sales and tariffs imposed by the EU.

Competitors state of affairs

Geely’s Zeekr sets a new record for monthly deliveries, with 27,011 electric vehicles sold in November, representing a remarkable 106% year-over-year increase. Xpeng, backed by Volkswagen, has broken the 30,000-vehicle mark for the first time, delivering a record-high 30,895 electric vehicles (EVs) in a single quarter, representing a 54% year-over-year increase from the previous period. Leapmotor, backed by Stellantis, reported a significant surge in deliveries, with 40,169 vehicles handed over to customers in November, representing a whopping 117% increase year-over-year.