Chinese EV maker Nio has extended its incentives to its entry-level SUV in Germany, as it continues its effort to clear the inventory of its four models in Europe’s largest automotive market.
Nio‘s German sales fell for a fourth straight month, declining to nine units in November from sixteen in October.
Currently, the premium brand is running three different campaigns.
According to an email sent to customers on Friday, and seen by EV, the company is offering a 0% financing rate on its EL6 SUV — known as the ES6 in China due to a trademark dispute with Audi.
The same incentives were already available for the ET5 sedan, ET5 Touring station wagon, and, from mid-October, in the EL8 (ES8) large SUV.
The offers are valid until December 31 while stocks last.
Additionally, through its subscription model, Nio is offering a deal of up to 8 months free on standard subscriptions (12 to 36 months), available until the end of the year on all models.
As another option, customers can opt for a six months risk-free trial.
The ET5 and ET7 sedans and the EL7 (ES7) SUV are currently only available through Subscription or inventory.
The brand lets customers configure the ET5 Touring, the EL6 and the EL8 SUVs, which are priced from €47,500 ($55,400), €53,500 ($62,400) and €82,900 ($96,700), respectively.
While these models have been upgraded in China earlier this year, the company is still selling vehicles produced in 2023 and 2024 across Europe.
Amid weak demand for its vehicles in the Old Continent, Nio has offered several incentives throughout the year.
In Sweden, it is also offering a 0% APR on the ET5 and the ET5 Touring Winter Editions, while setting a 2.99% rate on the EL6 and EL8.
The third incentive running is a special ‘Try and Buy offer on a pre-owned ET7 sedan, where customers can drive risk-free for six months on subscription — instead of 12 months.
After six months and an upfront payment of €4,500, the customer can opt to return the vehicle or purchase it.
November Sales
The company’s sales in Germany have dropped for the fourth consecutive month, dropping from sixteen units in October to nine in November.
The figures released on Wednesday by Germany’s KBA show that the company scored its weakest result in the country since January 2023 — just four months after it entered the market.
November sales represent just a third of the 29 Nio vehicles sold exactly a year ago.
Germany’s Kraftfahrt-Bundesamt (KBA) — the Federal Motor Transport Authority — doesn’t break down registrations by model.
Between January 1 and November 30, a total of 236 vehicles were sold by Nio in Europe’s largest auto market, a 40.7% decrease from a year ago.
Demand in Europe
The company registered 70 vehicles across its major European markets in November, with the Firefly brand now present in several markets.
Removing the 15 Firefly units registered, the Nio brand saw its sales drop by 60.7% year over year.
Year-to-date, the Nio Group has delivered 915 vehicles on the continent, despite launching a new sub-brand nearly four months ago.
In the first eleven months of 2024, 1,539 Nio vehicles had been sold, which suggests registrations have dropped by 40.5%.
