NIO delivered 10,059 vehicles in October 2022, representing an increase of 174.3% year-over-year. The deliveries consisted of 5,979 premium smart electric SUVs including 2,814 ES7s, and 4,080 premium smart electric sedans including 3,050 ET7s and 1,030 ET5s. 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. Cumulative deliveries of NIO vehicles reached 259,563 as of October 31, 2022.
In October, NIO unveiled ET7, EL7, and ET5 for the European markets at the NIO Berlin 2022. These products are gradually made available for order in Norway, Germany, the Netherlands, Denmark, and Sweden through NIO Subscription, leasing programs, and direct sales to users.
The announced delivery volume represents vehicle deliveries through direct sales to users as well as to the leasing program partner in Europe in accordance with the revenue recognition policy of the Company’s vehicle sales. The vehicles under NIO Subscription in Europe are recognized as assets on the Company’s balance sheet but not counted towards the announced delivery volume.