In March, Chinese electric vehicle (EV) maker Nio (NYSE: NIO) enjoyed remarkable stock market success as its shares soared 32.10% in the last 30 days, rising from $4.70 to $6.24 at press time in the morning of April 1.
Additionally, the rally turned particularly heated on the last day of the first quarter (Q1) of 2026 with a 9.44% surge as investors continued rushing in ahead of the anticipated delivery report.
Nio’s previous forecast that it would ship between 80,000 and 83,000 units in Q1, investors expected the EV maker to have sold 32,021 to 35,021 cars, while the actual report, published early on April 1, demonstrated the ambitious target was reached.
Specifically, the Chinese EV maker announced it had delivered 35,486 vehicles for a staggering 136% year-on-year (YoY) increase, thus validating the bullish market sentiment evident across the latest 30 days of trading.
Nio stock set to surge in April on ‘5566’ EV lineup
Elsewhere, Nio stock also benefited late in March from the expected launch of four new models, scheduled for April 2, 2026.
The so-called ‘5566’ lineup will include lower-cost vehicles called ES6, EC6, ET5, and ET5 Touring that the EV maker described as featuring comprehensive upgrades in configurations, smart driving experiences, and design.
Is Nio stock at risk of downward correction in April
Simultaneously, though the risks of a downward correction are heightened following the 32% upswing, it is worth noting that Nio still benefits from strong tailwinds and remains relatively cheap.
To begin with, the ongoing Iran war has, allegedly, increased demand for electric vehicles in China, signalling that April might prove another strong month in terms of deliveries. Similarly, the People’s Republic has been making a concentrated push to expand renewable energy infrastructure.
Between the national policy and geopolitical pressures, Nio could soon benefit from institutional incentives to accelerate adoption.
On the valuation side, Nio stock remains, despite the March surge, approximately 23% below the $7 to $8 highs reached in late 2025, demonstrating that the EV maker is not yet overvalued relative to its 52-week performance.
Featured image via Shutterstock
