Chinese electric vehicle maker Nio Inc. (NIO) wrapped up 2025 on a high note Thursday, reporting record December deliveries of 48,135 vehicles. That's a 54.6% jump compared to December 2024, and it's the kind of number that helps explain why the EV race in China remains so competitive.
The December haul breaks down across Nio's three brands: 31,897 vehicles under the flagship NIO brand, 9,154 from ONVO, and 7,084 FIREFLY units. This multi-brand approach is becoming increasingly important as Nio tries to capture different market segments, from premium buyers down to more budget-conscious customers.
Perhaps the most impressive individual achievement came from the All-New NIO ES8, Nio's flagship premium SUV. In December, this model crossed 40,000 total deliveries and set a delivery speed record among battery electric vehicles priced above 400,000 yuan in China. That's a significant benchmark in the premium segment where Nio is trying to establish itself as a legitimate Tesla Inc. (TSLA) competitor.
Strong Quarter and Year-End Performance
The December numbers helped Nio close out its fourth quarter with 124,807 vehicle deliveries, representing a 71.7% year-over-year increase and a new quarterly record for the company. For the full year 2025, Nio delivered 326,028 vehicles, up 46.9% from 2024. As of December 31, 2025, cumulative deliveries since inception reached 997,592 vehicles, meaning the company is tantalizingly close to hitting the million-delivery milestone.
These growth numbers matter because they show Nio is scaling up production and distribution effectively, even as competition in China's crowded EV market intensifies. The year-over-year growth rates suggest the company is gaining traction rather than just treading water.
How the Competition Stacked Up
Nio's rivals also posted solid December results. Li Auto Inc. (LI) delivered 44,246 vehicles in December 2025, and the company crossed a major milestone by exceeding 1.5 million cumulative deliveries during the month. That puts Li Auto well ahead of Nio in total volume, though Nio's growth trajectory remains strong.
XPeng Inc. (XPEV) delivered 37,508 vehicles in December 2025, up 2% year over year. For the full year 2025, XPeng's deliveries rose 126% to 429,445 units, including 45,008 overseas deliveries, which represents 96% growth internationally. XPeng's aggressive overseas expansion is worth watching as Chinese EV makers push beyond their home market.
Recent Financial Performance
Looking at Nio's most recent earnings from November 2025, the company reported third-quarter revenue of 21.79 billion yuan, or about $3.06 billion. That represented a 16.7% year-over-year increase and 14.7% sequential growth, though it fell short of the consensus estimate of $3.26 billion.
On the bottom line, Nio posted an adjusted loss of 1.14 yuan (15 cents) per ADS, which was actually an improvement from the 2.14 yuan loss a year earlier. More importantly, it beat analyst expectations for a 24-cent loss. The narrowing losses suggest Nio is making progress toward profitability, even if it's not quite there yet.
NIO Price Action: Nio shares were up 5.49% at $5.38 during premarket trading on Friday.
