Nio Stock Slides In Hong Kong: Deutsche Bank Warns New Onvo SUV Sales Boom Could Fade Fast

• The brokerage said the projected sales pattern mirrors the earlier launch cycle of the larger Onvo L90 SUV.
• Onvo recently launched the L80 in China, starting at 242,800 yuan, with lower pricing available through its battery subscription program.
• Deutsche Bank said the L80 faces heavy competition from Li Auto, BYD, and Xpeng in China’s crowded EV market.

Shares of Nio, Inc. (NIO) fell 4% in Hong Kong trading on Monday after Deutsche Bank warned that the strong early sales momentum for the newly launched Onvo L80 SUV may cool sharply once competition intensifies in China’s crowded EV market.

Nio’s U.S.-listed shares snapped a three-week losing streak last week, finishing about 4% higher. 

Deutsche Bank Sees Onvo Sales Cooling

Deutsche Bank expects the five-seat Onvo L80 sport utility vehicle to initially ramp up to monthly sales of around 10,000 units after production expansion, but forecasts deliveries could later normalize to 4,000 units a month as rival models enter the segment. The brokerage said the expected trajectory closely mirrors that of the Onvo L90, the larger three-row SUV launched last year under Nio’s mass-market sub-brand, CnEVPost reported.

“We observed a similar volume trajectory for the ONVO L90,” Deutsche Bank said, noting that the model delivered more than 10,000 units per month during its first three months before slowing to 4,000 monthly deliveries in the following quarter.

The cautionary note comes just days after Onvo officially launched the L80 in China with a starting price of 242,800 yuan ($35,750), slightly below its pre-sale pricing. Under Nio’s battery subscription program, buyers can lower the entry price to 156,800 yuan through its battery-as-a-service offering. Initial deliveries of the SUV began across 15 Chinese cities over the weekend as Nio accelerated efforts to expand its presence in the family-focused EV segment.

China EV Competition Pressures Onvo

Deutsche Bank said that the L80 enters one of the most competitive areas of China’s EV market, where it will compete directly against Li Auto’s Li i6, BYD’s Tang L EV and Xpeng’s G9. The brokerage expects fresh rival launches over the coming quarters to pressure Onvo’s delivery momentum after the initial wave of demand fades.

Nio has increasingly relied on aggressive product launches to support volume growth as competition intensifies across China’s EV sector. The company is also preparing to begin pre-sales for the refreshed Onvo L60 SUV later this month, while its flagship ES9 SUV is expected to launch on May 27.

The L80 shares its platform and dimensions with the larger Onvo L90, measuring more than five meters in length with a 3,110-mm wheelbase. Higher-end trims include LiDAR and Nio’s in-house Shenji autonomous driving chip, while entry-level variants use Nvidia’s Orin X processor.

Nio Order Flow Remains Stable

Despite concerns around the sustainability of the L80 launch cycle, Deutsche Bank said that Nio’s broader order trends in May have remained stable. The brokerage, citing Thinkercar data, said the company secured around 10,000 new vehicle orders in both the first and second weeks of May and expects total monthly order flow to remain flat month-over-month at 42,000 units.

The company heads into earnings with improving delivery momentum across its premium lineup. Nio recently said its third-generation ES8 SUV will surpass 110,000 cumulative deliveries this week after reaching the 100,000-unit milestone less than a month ago. The company will report first-quarter earnings on May 21.

The ES8 has become a major contributor to Nio’s recovery, accounting for more than half of the company’s first-quarter deliveries. Strong demand for the model helped Nio post its first-ever quarterly profit in the fourth quarter of 2025. Nio founder William Li previously said deliveries are expected to rebound steadily through May and June, driven by launches including the ES9 and the Onvo L80.

How Do Retail Traders Feel About NIO?

On Stocktwits, retail sentiment for NIO was ‘neutral’ amid ‘normal’ message volume.

One user said, “makes sense that sales keep doubling, profit margins increasing and finally profitable that a stock should decline said no critical thinking person ever. This is OBVIOUSLY the result of naked shorting and market manipulation!”

Meanwhile, a separate bearish user said, “historically we go bearish this time of year until late June July….not this year …GO NIO”

Nio’s U.S.-listed stock has risen 53% over the past year. 

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

Read Next: TSLA Stock Slips Overnight: Gene Munster Sees Over 50% Odds Of Tesla-SpaceX AI Powerhouse Merger