Key Highlights

  • Third quarter 2026 deliveries totaled 109,178 vehicles, up 25.4% year over year, lifting the first nine months to 300,301, an increase of 49.2%, per the company release.
  • September deliveries of 37,408 rose 7.7%, with the NIO Brand at 21,318, ONVO at 8,763 and FIREFLY at 7,327, so momentum faded toward quarter end.
  • The ES8 hit its 150,000th delivery on September 20, 2026, and the ES9 passed 30,000 deliveries on September 23, 2026, counted since deliveries began on May 28, 2026.
  • Published coverage reported that JPMorgan cut its target to USD 3.70 from USD 4.50 on October 26, 2026, keeping a Neutral rating, while the close that day was USD 3.26.

Third Quarter Volume Outpaces a Softer September

NIO (NYSE:NIO) is a Chinese premium electric vehicle maker listed in New York, and it reported 109,178 third-quarter deliveries on October 1, 2026. Quarterly growth of 25.4% sat beside a September gain of only 7.7%, a sign that momentum weakened near the quarter end. Cumulative deliveries reached 1,297,893 as of September 30, 2026, which shows scale without signaling profitability. Spread over three months, the quarter averages roughly 36,400 vehicles a month (own arithmetic), close to the September pace. Published coverage separately said China's September passenger car retail sales dropped 28.0% from a year earlier, a figure not verified against official data. The company's own release claimed its ES9 ranked first in monthly sales among battery electric vehicles priced above 500,000 yuan for three consecutive months. Three brands now contribute September volume, which spreads risk but also divides Marketing and service spending across more lines.

Geely Battery Swap Agreements and the Share Reaction

A September 27, 2026 company release announced definitive agreements with Geely Holding Group covering NIO's battery swapping and charging operations. Published coverage described Geely acquiring 30% of NIO Power and NIO buying 10% of a Geely charging unit, though those terms did not appear in the release text reviewed. The shares fell after the news, and published coverage put the September decline at 18.9%. The ADS closed at USD 3.26 on October 26, 2026, near its 52-week low of USD 3.24, against a high of USD 7.54. Battery swap stations require heavy capital, so moving part of that network into a venture with a larger partner could share the cost, though the final terms matter more than the headline.

Quoted Penny Stock Pricing and Ongoing Losses

Published market data showed NIO at USD 3.36, up 5.38%, on volume of 19.889 million shares, with the session date unconfirmed. Because the stock trades under USD 5, it counts as a penny stock, where a small number of trades can move the quote, spreads can widen, and quoted moves can reverse, so a rebound does not imply continuation. Losses persist: published market data put the 2025 loss at about 15.57 billion yuan against Revenue of 87.49 billion yuan. The next Earnings date is estimated at November 24, 2026 in published market data, yet no company announcement of that date was found.

Where Things Stand

Mainly a slowing September, persistent losses and uncertainty around the Geely transaction. NIO (NYSE:NIO) posted 25.4% quarterly delivery growth, but the 7.7% September gain, a reported 28.0% drop in China's September passenger car retail sales, which could not be verified, and an analyst target cut all explain the caution. As a penny stock, the quote can swing on few trades. Investors can watch October deliveries, the final Geely terms and the estimated November 24, 2026 results date.