NIO EV deliveries climbed 174% YOY in October to 10,059 but fell from September
Chinese EV leader NIO (NIO) reported 10,059 deliveries of its electric models in October 2022. Although NIO’s deliveries are up over 174% from October last year, it’s a slight dip from last month. A sign of what’s to come in the Chinese EV market? Or just another speed bump on the way to rapid EV adoption?
A critical year for NIO (NIO)
Since going public in 2018, NIO has been one of the most closely watched EV companies, partly because of the company’s explosive growth and market potential in China.
In December 2017, the company launched the ES8, a premium electric SUV, which was followed by the ES6, an EV SUV, in December 2018. The EC6, an electric coupe SUV, was unveiled in December 2019. In January 2021, NIO released its flagship ET7 electric sedan, and in December 2021, the ET5 was introduced, a midsize electric sedan.
NIO delivered 91,429 electric vehicles in 2021, including 20,050 ES8s, 41,474 ES6s, and 29,905 EC6s.
However, 2022 has presented significant challenges for Chinese EV companies with ongoing lockdowns due to a resurging COVID-19 that continues to limit production.
According to the latest update from the International Council on Clean Transportation, China remains the top market for electric vehicles despite surging EV sales in Europe, with around 24% EV share of the auto market.
Several automakers and startups, such as Li Auto, Xpeng, and Geely, are fighting NIO for market share. During the second quarter, NIO’s deliveries rose 14% YOY, but the pace is slowing significantly, falling 2.8% from Q1.
The EV maker’s founder and CEO, William Bin Li, called the remainder of 2022 a “critical period” for NIO to scale production and expand its market.
NIO’s stock is down 70% year-to-date (YTD) as inflation, geopolitical tension, and regulation uncertainty has put pressure on Chinese stocks, particularly growth and tech companies.
NIO’s October EV deliveries update indicates better-than-expected results, but the slowing momentum raises questions.
NIO October 2022 EV deliveries update
According to NIO’s SEC filing, the EV company delivered 10,059 electric models in October 2022. Even though NIO’s EV deliveries represent an increase of 174.3% from October of last year, they are down 7.5% from September.
During October, NIO delivered 5,979 electric SUVs and 4,080 electric sedans, including:
- 2,814 ES7
- 3,050 ET7
- 1,030 ET5
Including October, Nio has delivered 92,493 so far in 2022, up 32% from the same time last year. Cumulative deliveries have now reached 259,563 as of October 31, 2022.
NIO notes:
The vehicle production and delivery were constrained by operation challenges in our plants as well as supply chain volatilities due to the COVID-19 situations in certain regions in China.
To help overcome this, NIO introduced its ET7, EL7, and ET5 models in Europe to expand its market reach. The EV models will “gradually” become available in Norway, Germany, the Netherlands, Denmark, and Sweden through NIO subscriptions, leasing programs, and DTC sales.
Electrek’s Take
Although NIO’s EV deliveries seem to be slowing, the EV maker is strategically growing its market by introducing several popular electric models in Europe, where demand is also rising quickly.
NIO delivered more EVs than rival XPeng (5,101) and just edged out Li Auto (10,052) in October. The EV maker continues to overcome supply chain hurdles in its home market, but the company’s widening loss is a concern.
In Q2, NIO’s loss grew to $411.7 million, an increase of 369% from 2021. NIO reports Q3 earnings on November 10. This will be a significant number to watch.
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We’ve got good news – EV lease prices look much better than expected, despite the end of the federal tax credit and 25% import tariff being in place. Prices have crept up compared to last month, but several automakers have stepped in to fill the gap by covering the $7,500 credit themselves or adding extra incentives – and the price of one EV even dropped. Here are October’s top EV lease deals, spotted by our friends at CarsDirect.
2025 Hyundai IONIQ 5 lease from $189/month
The updated 2025 Hyundai IONIQ 5 SE RWD Standard Range remains one of the standout EV lease deals this month, holding steady even after the end of the federal EV tax credit and new import tariffs. Through November 3, you can lease one for $189 a month for 36 months (10,000 miles per year) with $3,999 due at signing. That works out to an effective monthly cost of about $300 – just $40 more than September.
The price bump is far smaller than many expected, especially with Hyundai’s $17,000 in lease cash factored in. And if you’re tempted by an upgrade, the SEL RWD trim is just $50 more per month under the same terms. You’ll get a model that’s roughly $7,000 more in value and $18,750 in savings.
The IONIQ 5 SE RWD Standard Range offers an EPA-estimated 245 miles of range, and this particular offer is available in the Los Angeles and greater California metro areas.
Click here to find a local dealer that may have the Hyundai IONIQ 5 in stock. –trusted affiliate link
2025 Hyundai IONIQ 6 lease from $189/month
The 2025 Hyundai IONIQ 6 SE RWD Standard Range is tied with its sibling for the most affordable EV lease deal this month, offering standout value even after the federal EV tax credit ended. In the California metro area, you can lease it for $189 per month for 36 months (10,000 miles per year) with $3,999 due at signing, and Hyundai is sweetening the deal with $13,250 in lease cash.
That brings the effective monthly cost to around $300, which is only $20 more than last month when the tax credit was still active. With an EPA-estimated 240 miles of range, 149 horsepower, fast-charging capabilities, and a sleek, distinctive design, the IONIQ 6 remains a fan favorite. This offer is valid through November 3.
Click here to find a local dealer that may have the Hyundai IONIQ 6 in stock. –trusted affiliate link
2025 Kia Niro lease from $209/month
The 2025 Kia Niro Wind EV returns to our top 5 this month with an impressive regional lease deal. You can lease the Niro Wind EV for $209 per month for 24 months (10,000 miles per year) with $3,999 due at signing. The offer includes $11,800 in lease cash and $14,940 in total savings, bringing the effective monthly cost to about $376. That’s about $80 more per month than September’s tax credit-incentivized deal at $129, but it’s still a solid offer given the policy changes.
This deal is available to California, Colorado, Oregon, and Washington residents through November 3.
Click here to find a local dealer that may have the Kia Niro in stock. –trusted affiliate link
2025 Ford Mustang Mach-E from $219/month
The 2025 Ford Mustang Mach-E Select RWD with Package 100A is offering bigger savings this month, making it an even stronger pick for EV shoppers. Known for its premium design and an EPA-estimated 300 miles of range, the Mach-E remains a favorite among drivers who want style and substance.
You can now lease it for $219 per month for 24 months (10,500 miles per year) with $4,499 due at signing. That’s $20 less per month than September’s advertised deal, though the term is shorter. With an effective monthly cost of about $406, it’s only $45 more than last month, a smaller jump than many expected.
The offer includes $6,750 in lease cash for qualified lessees, plus a free Ford Charging Station Pro with complimentary home installation – a rare perk. If you already have a home charger, you can choose an extra $2,000 in bonus cash instead.
This deal is currently available in California through January 5, 2026. Ford found a clever workaround to extend the tax credit for leases through Ford Credit until December 31, 2025. GM also has a similar program.
Click here to find a local dealer that may have the Ford Mustang Mach-E in stock. –trusted affiliate link
2025 Chevrolet Equinox from $269/month
Through November 3, you can lease the 2025 Chevrolet Equinox EV 2LT for $269 per month for 24 months (10,000 miles per year) with just $679 due at signing – one of the lowest upfront costs we’ve seen lately. That works out to an effective monthly cost of around $297. It’s got a quirk, though – this deal excludes Black Cloth Seats.
This is one of the rare EVs to see a price drop in the post-tax-credit era. Compared to September’s offer of $309 a month with $2,609 due at signing, this Chevy Equinox lease is $121 cheaper in effective monthly cost.
The deal is available nationwide for current Chevrolet lessees or those switching from another brand, and it includes a $2,250 loyalty or conquest bonus on top of $1,750 in lease cash. Want to drive away with the newest model? You can upgrade for just $30 more per month.
With an EPA-estimated 319 miles of range, the 2025 Equinox EV 2LT offers solid value for drivers looking to get into Chevy’s newest electric SUV.
Click here to find a local dealer that may have the Chevrolet Equinox in stock. –trusted affiliate link
Read more: From $0 a month: 5 of the best EV lease deals in September
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Nissan is tossing around the idea of a new Nissan LEAF NISMO again, but this time it will be based the newly upgraded version.
Is Nissan launching a new LEAF NISMO EV?
I know, we’ve all heard this one before. Nissan has been talking about launching a LEAF NISMO for years now. And it has released limited edition versions for select markets, but there’s still no production LEAF NISMO available.
According to Christian Spencer, Nissan’s senior marketing manager, there’s a reason for that. Spencer told Carscoops that “The NISMO brand has a lot of variation across the globe.”
He pointed out that in Japan, “NISMO has a lot deeper roots in some of the electric vehicles,”like the Ariya SUV, which is already on sale in Nissan’s home market.
In the US, the brand tries to “focus a little bit more just because the driving enviroment is different.” While Japan gets the NISMO models, Nissan’s performance cars in the US are mostly Z or GT-R versions.
The streets in Japan are smaller and steeper, “so the meaning for NISMO varies a little bit,” Spencer explained. But, he hinted NISMO could make a comeback in the US, starting with the newly upgrade LEAF.
Spencer said that “If we see that demand from the customer base, we’re going to follow it.” Again, this isn’t the first (or likely last) we’ve heard Nissan is planning to launch a LEAF Nismo, but it is for the newly upgraded model introduced this year.
Nissan said the new 2026 LEAF has “the lowest starting MSRP for any new EV currently on sale in the US” starting at just $29,990.
That’s even cheaper than the OG LEAF, launched in 2011 for $32,780 despite the upgrades. The new LEAF now has a new crossover SUV-like design, over 300 miles driving range, and an NACS port to recharge at Tesla Superchargers.
Will it be next in line for the NISMO treatment? It could make for an affordable performance EV to rival the Hyundai IONIQ 5 N or Tesla Model Y. The question is… will it sell?
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Love it or hate it, the Kia Soul always stood out with its funky, box-like design. Kia is dropping the infamous box car from its lineup at the end of 2025, but promises more exciting vehicles will replace it.
Kia is retiring the Soul box car after the 2025 model year
Who could forget the dancing hamster commercials Kia put out over a decade ago? The Soul was the star in some of Kia’s best marketing ads, but it won’t be offered as a 2026 model year.
Kia is retiring the Soul at the end of the year as it prepares for a new generation of electric and hybrid vehicles., Although Kia’s lineup will be Soul-less next year, the company is promising to replace it with even more exciting cars.
The funky box car was “a cornerstone in Kia gaining a foothold in the United States,” according to Eric Watson, Kia America’s VP of sales.
Kia is on track for its third consecutive sales record in the US and its highest market share ever. Watson said the Soul helped the brand achieve its early success, but is “equally excited for the future of Kia’s expansive and award-winning utility vehicle lineup.”
The Soul was Kia’s most affordable vehicle in the US for the 2025 model year, starting at just $21,935. Next year, the K4 sedan will take its place, starting at a slightly higher price of $23,165.
Kia is also launching the electric version, the EV4, in early 2026. Although prices have yet to be confirmed, the electric sedan is expected to start at around $35,000 to $40,000.
The EV4 will join the updated EV6 and EV9 in Kia’s expanding lineup. Both the EV6 and EV9 are assembled at Kia’s plant in Georgia.
The EV3, Kia’s compact electric SUV, is also expected to launch in the US sometime in 2026. Prices and an official launch date have yet to be confirmed, but the smaller electric SUV will likely start at around $30,000 to $35,000.
Kia’s EV3 is already among the top-selling electric vehicles in the UK, Europe, and other overseas markets. The company also offers some of the top-selling hybrids in the US, including the Niro, Sportage, and Sorento, which will help fill the gap left by the Soul.
Kia plans to end Soul production in October with just a few thousand models remaining at dealers. These will be the last few sold in the US as Kia prepares to revamp its lineup in 2026.
What do you think of the move? Are you sad to see the Soul go? Let us know in the comments.
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