NIO Inc. (NIO) stock edged lower in Monday's premarket trading after the Chinese electric vehicle maker reported a decline in October deliveries, despite strong year-to-date growth.

The company, a major rival to Tesla, Inc. (TSLA), reported Sunday that it delivered 34,246 vehicles in October 2026, down 15.2% year over year from 40,397 vehicles in October 2025.

Deliveries also fell 8.5% from September's 37,408 vehicles, signaling slower monthly momentum.

NIO Brand Leads October Deliveries

The company's premium NIO brand accounted for 18,125 vehicles, compared with 21,318 in September.

Its family-focused ONVO brand delivered 8,383 vehicles, down from 8,763 in the previous month.

Meanwhile, the compact electric vehicle brand FIREFLY delivered 7,738 vehicles, up from 7,327 in September.

Compared with October 2025, NIO brand deliveries rose 5.7%, while ONVO deliveries plunged 51.7%. FIREFLY deliveries increased 30.9%.

The figures highlight uneven demand across the company's three brands, with growth in NIO and FIREFLY unable to offset ONVO's decline.

Year-To-Date Deliveries Rise 38.5%

Despite October's slowdown, NIO delivered 334,547 vehicles during the first 10 months of 2026, representing a 38.5% increase from 241,618 vehicles a year earlier.

The company previously reported third-quarter deliveries of 109,178 vehicles, up 25.4% year over year.

Cumulative vehicle deliveries reached 1,332,139 as of Oct. 31, 2026.

Premium SUV Sales Remain Strong

NIO also highlighted continued demand for its premium electric SUVs.

The company's all-new ES8 reached its 160,000th delivery on Oct. 23.

According to NIO, the model ranked first in cumulative retail sales in China's large SUV segment and the vehicle segment priced around 400,000 yuan during the January-October period.

The milestone follows the ES8 reaching 150,000 deliveries in September, reflecting continued demand for the company's flagship SUV.

NIO Price Action: NIO shares were down 0.29% at $3.20 during premarket trading on Monday, according to market data.