Weekly insurance registrations of Nio’s sub-brand Firefly plunged 70.6% last week to a new record low, data shared on Chinese social media platform Weibo showed on Tuesday.
The brand, which started delivering its debut model in the final days of April, recorded weekly sales of 1,300, 550, and 680 units in the first three weeks of the month, respectively.
The first week of June, with 1,300 units sold, marked the brand’s strongest weekly sales performance to date, while the final week of July, with just 200 units registered, represented its weakest.
Insurance registration data from the second week of July showed a 57.7% decline to 550 vehicles between July 7 and 13, before rebounding slightly to 680 units in the third week.
Production challenges were known last week when the head of marketing for Nio’s second sub-brand, Pu Yang, said the disruption had been resolved, while suggesting that August deliveries could reach a new record — surpassing 3,932 units.
The brand announced last Friday that it had surpassed 10,000 cumulative deliveries of its debut model, indicating that it delivered 2,157 units between July 1 and 25.
Firefly delivered 231 vehicles in April, followed by 3,680 in May and 3,932 in June.
The brand is currently offering a series of limited-time purchase incentives set to expire at midnight on July 31.
The offer includes a discounted entry price of 98,000 yuan for buyers opting into Nio’s Battery-as-a-Service (BaaS) program, under which the battery is rented separately for 399 yuan per month.
The promotion is available to customers who place a 5,000 yuan deposit before the end of the month.
Buyers will also receive 10 years of free access to Firefly’s intelligent driving assist system, a 3,000 yuan charging subsidy, 3,000 delivery points, a commemorative gift package, and an exclusive heat-insulating film for users trading in their vehicle.
In addition, existing Nio and Onvo customers who place a deposit and take delivery will receive an extra 10,000 loyalty points, according to Firefly.
In total, Nio group weekly sales rose 2% sequentially last week to 4,996 units. In the third week of June, the three brands Nio, Firefly and Onvo had registered 4,900 vehicles.
