Nio’s stock is coming under pressure today even as the company posted new delivery highs for December and for the fourth quarter of 2025. Despite the strong operating figures, the market is pricing in the news, producing a classic Sell-the-News dynamic. In Europe, the shares are down about 2.7%, after the Hong Kong-listed affiliate closed trading more than 3.5% lower.
Delivery milestones in focus
The gap between the company’s solid execution and its stock performance is striking. Nio reported verified delivery records for the recent period, broken down as follows:
– December 2025: 48,135 vehicles delivered (+54.6% year over year)
– Q4 2025: 124,807 vehicles delivered (+71.7% year over year)
– Full-year 2025: 326,028 vehicles delivered (+46.9% year over year)
– Cumulative: roughly 997,592 vehicles, creeping toward the one-million mark
Breaking down the mix, the premium Nio brand contributed 31,897 units in December, while the new sub-brands Onvo and Firefly delivered 9,154 and 7,084 units respectively.
Why the selling persists
Even with these record figures, buyers have not stepped in. The pace of growth alone isn’t generating fresh demand; the market appears to have already priced in the strength. Rather than a rally, traders are taking profits, a Sell-the-News effect amplified by softer performances in Hong Kong and Europe. That dynamic raises questions about a strong start for the U.S. trading session.
In an internal memo, CEO William Li highlighted the 2025 delivery record and projected that China’s new-energy-vehicle (NEV) penetration rate in new car sales will exceed 90% by 2030. Yet concerns about profitability and intense competition overshadow this longer-term optimism. The drop in shares, despite meeting delivery targets, suggests institutional investors may be looking beyond sheer volume growth to margins or the costs tied to the aggressive expansion of the battery-swapping network.
Looking ahead, traders will be watching the U.S. market to see whether the negative momentum continues or if appetite returns near a price level around $5 per share.