NIO stock fell in U.S. premarket trading on Thursday after China’s June NEV data showed retail sales declined for a sixth straight month. Shares of Nio, XPeng and Li Auto all moved lower as investors digested weaker domestic demand and a small overseas shipment total from Nio.
U.S.-listed NIO and LI each fell 1% premarket, while XPEV slipped 2%. China’s NEV retail sales reached 1.007 million units in June, down 9% from a year earlier, even as NEV penetration rose to 63% from 9.5 percentage points earlier.
Cui Dongshu and June sales
China Passenger Car Association Secretary General Cui Dongshu criticized the trend toward larger and heavier NEVs, calling it “extremely bad.” He said it “wastes resources and is not properly constrained by China’s current tax system” and urged China to “use tax and energy-consumption rules to curb vehicle “bloating”.”
The same June data showed China’s total passenger vehicle retail sales fell 23% year-over-year to 1.602 million units. NEV exports, by contrast, jumped 153% to 499,000 units and rose 18% from May, with NEVs accounting for a record 57% of total passenger vehicle exports.
Nio exports 72 vehicles
Nio exported 72 vehicles in June across its Nio, Onvo and Firefly brands, down 18% from May. The company’s first-half exports totaled 475 vehicles, compared with 191,123 first-half deliveries, leaving its overseas push far smaller than its domestic scale.
That gap was visible across the brands. The premium Nio brand exported 36 vehicles in June, Firefly shipped 32 and Onvo exported 4, while Onvo recorded 11,739 insurance registrations in June and the refreshed L60 reached its best monthly result since December 2025.
He Xiaopeng robotaxi beta
He Xiaopeng also added a separate update for XPeng, saying he completed the first closed-beta order in the company’s robotaxi program. He said he was “Very happy to be the first user in our robotaxi closed beta” and described the process of ordering, boarding and starting the ride as “seamless.”
XPeng said the robotaxi project has moved quickly, giving the company a second point of attention beyond the broader June sales slump. Nio has said it aims to expand across 40 countries and regions this year, but its June export total shows that overseas scale remains modest beside its first-half deliveries.
