Niu Q1 Sales Jump on China Volumes

Niu has been expanding its dealer network in China, and the impact on sales numbers is beginning to show. Q1 2025 sales were up by 66% in China and 57% overall.

From Niu’s press release

In comparison, international sales are growing more slowly, up by 5% in the quarter.

Niu has also indicated that the newly launched NX Pro has received a good response in the Chinese market. The local market gets the new Niu products many quarters before they are introduced in international markets.

Impact

After a dismal 2022 and 2023, Niu has bounced back in 2024. The company is now building on sales growth with new products and an expanding sales network in China. We had covered this a few weeks back.

Niu Sacrifices Margins for Volumes – InsightEV

After two continuous years of decline in vehicle sales and revenue, Niu posted a relatively strong 2024 with a 24% improvement in revenue, riding on an increase in volumes in both China and international markets. However, the per unit revenue declined and the gross margin has collapsed.

InsightEV InsightEV – Global Electric Mobility

While reading the numbers, note that Niu combines sales numbers across form factors -n scooters, e-cycles, and kick-scooters. We estimate that the U, N, and M series of products account for nearly 80% of sales.