Nio Smashes Delivery Record As Onvo L90 Demand Soars — Retail Hopes For Fresh Breakout

• Nio's Onvo L90 topped 10,000-unit sales for the third consecutive month.
• The company said its L90 is well-positioned to accelerate the transition of large three-row SUVs toward full electrification.
• Nio stock trades shy of its 52-week high of $8.02 reached in early October.

Nio, Inc. (NIO) shares are on retail traders' radar after the Chinese electric-vehicle (EV) maker reported that its October deliveries nearly doubled from a year ago, driven by strong demand for its Onvo L90 EV.

In overnight trading, Nio's U.S.-listed stock was last seen up 0.28%, according to Yahoo Finance, after it ended Friday's session up 3.42% at $7.25.

Nio's October Deliveries

Shanghai, China-based Nio said it sold 40,397 EVs in October, setting a new monthly record and posting a 93% year-over-year (YoY) increase and a 16% sequential gain. Nio-branded vehicle sales accounted for roughly 40% of total sales, while family-oriented Onvo and high-end car brand Firefly contributed 44% and 16%, respectively.

The company also noted that its Onvo L90, a large-space flagship SUV launched in July, achieved record sales, with monthly deliveries exceeding 10,000 units for a third consecutive month.  "With its industry-leading position in the large SUVs segment and extraordinary product competitiveness, the L90 is well-positioned to accelerate the transition of large three-row SUVs toward full electrification," the company said.

Among Chinese peers, XPeng also reported record monthly deliveries (42,013) for October, with the number marking a 76% YoY climb and a 1% monthly increase. Li Auto's (LI) monthly deliveries (31,767) slipped over 38% YoY and 6.4% sequentially. 

BYD reported battery EV deliveries of 222,559 units, up 17% YoY and 8.5% from the prior quarter. Its overall EV sales, including plug-in hybrid sales, fell 12.7% to 436,856 units.

What Retail Feels About Nio's Sales

Nio stock was among the top 15 trending equity tickers on Stocktwits by late Sunday. Retail sentiment toward the stock remained 'neutral' among retail users on the platform. The message volume on the stream dipped to 'low' levels.

A bullish user expected the stock to take off and warned that "shorts be ready." According to Koyfin data, short interest in the stock is 6.60%, although down from over 10% in late April.

Another user shared a daily chart and said Nio has a "lovely setup," adding that the moving average convergence and divergence (MACD) indicator is about to start tweaking.

Nio's Hong Kong-listed shares traded up 2.66%. Its U.S.-listed ADRs have gained over 66% this year, thanks to improving sales trends. The stock has traded within a 52-week range of $3.02 to $8.02, with the upper bound reached on October 2. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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