NIO (NIO) shares closed at $3.21 on Oct. 30, down $0.11, or 3.31%, for the day. The stock traded between $3.16 and $3.27 on volume of 34.9 million shares, above its average volume of 32.1 million. It remained near the bottom of its 52-week range of $3.16 to $7.54.

The move came ahead of NIO Inc.’s October delivery report, published on Nov. 1. The company delivered 34,246 vehicles across its NIO, ONVO and FIREFLY brands during the month. That brought 2026 year-to-date deliveries to 334,547, an increase of 38.5% from the same period a year earlier. Cumulative deliveries reached 1,332,139 vehicles. Because these reports are issued monthly, they are the company’s most frequent operating disclosures between quarterly results, and the brand-by-brand composition of each total offers a more granular read on demand than the headline number alone.

The company’s All-New ES8 surpassed 160,000 deliveries and ranked first in China’s large SUV and RMB400,000-level segments from January through October. NIO said competition in the market is shifting away from specifications and toward brand power, a claim the company presented alongside the ES8’s segment leadership figures.

According to the October delivery figures reported in a post by Antonio Costa on X, NIO delivered 18,125 vehicles under its namesake brand, while ONVO delivered 8,383 and FIREFLY delivered 7,738. The post is available at https://x.com/ACInvestorBlog/status/2116792635511775740?ref_src=twsrc%5Etfw. ONVO’s 8,383 was below September’s 8,763, marking a fifth consecutive monthly decline since the brand’s May peak of 12,029, even as the group’s year-to-date deliveries grew 38.5%.

NIO’s market capitalization was about $7.57 billion, while its gross margin was 17.43%, according to Motley Fool data. The company’s stock was down about 57% over the past year. NIO’s Hong Kong-listed Class A shares (9866) were down 0.24% in the most recent update.

September results showed differences between brands

The October results followed a mixed September. NIO delivered 37,408 vehicles that month, up 7.7% from a year earlier. The overall figure concealed a significant difference between the company’s brands.

Deliveries by the namesake premium brand rose 55.3% year over year in September, an increase of 7,590 vehicles. ONVO deliveries moved in the opposite direction, declining by 6,483 vehicles.

ONVO had a strong start to 2026. Its second-quarter deliveries increased by about 71% to 29,124 vehicles, and the brand reached a monthly high of 12,029 deliveries in May. Since that peak, however, ONVO has recorded four consecutive monthly declines. September deliveries fell to 8,763 vehicles.

The year-over-year comparison was also affected by the L90, which began deliveries in August 2025. Across the third quarter as a whole, NIO’s deliveries increased 25.4% from the previous year, meaning September’s 7.7% growth was below the quarterly pace. A Motley Fool article cited in the report said that one weak month does not define the business.

William Li outlines ONVO response

NIO CEO William Li discussed ONVO during the company’s second-quarter earnings call on Sept. 1. He said ONVO faced more intense competition than NIO’s other two businesses and identified limited brand awareness as another challenge.

Li compared ONVO’s current level of recognition with NIO’s level five or six years earlier. The company’s response includes increased marketing, community events and store expansion, including efforts to reach customers in lower-tier cities.

The latest delivery data provides an update on the results of that strategy. The report did not establish whether broader reach would translate into steadier orders. Subsequent monthly delivery reports will show whether that brand-building effort changes ONVO’s trajectory, making the brand’s line item the figure to watch in each release.

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