EV maker Nio recorded a three-month low in weekly insurance registrations for its core brand in the second week of July, despite having launched updated versions of four of its key models in May.
During the week of July 7–13, Nio-brand vehicles registered 2,410 units in China, a 3.6% decline from 2,500 the previous week, according to data shared Tuesday on Chinese social media platform Weibo.
It was the lowest weekly figure since the first week of April.
The decline comes after four consecutive weeks of increasing volumes in June, driven by a typical end-of-quarter push.
Weekly registrations rose from 2,630 in the first week of June to 3,790 in the final week.
Total deliveries for the month reached 14,593 units — up 10% from May, but down 31.2% year-on-year despite increasing incentives launched in early June.
Last month marked the second straight month of year-on-year declines for the Nio brand. In May, the brand delivered 13,270 vehicles, down more than 30% both year-on-year and sequentially.
In May, Nio launched the 2025 versions of four of its models without raising prices: the entry-level ET5 sedan, its station wagon counterpart ET5 Touring, the EC6 crossover, and the ES6 SUV. Deliveries of the refreshed models began the same month in China.
The ET5 and ET5 Touring were major contributors to the company’s 2024 full-year volumes, accounting for 11.9% and 22.9% of total Nio deliveries, respectively. Combined, the two models represented more than one-third of all vehicles sold by the group last year.
The ES6, Nio’s entry-level SUV, starts at 338,000 yuan ($46,500), while the EC6 is priced from 358,000 yuan.
With the company’s Battery-as-a-Service (BaaS) subscription model, entry prices drop to 268,000 yuan and 288,000 yuan, respectively.
Looking ahead, Nio plans to expand its model lineup with the launch of a new version of the ES8 SUV in the fall, followed by the introduction of the ES9 next year.
The company is ending its “reverse battery swap” initiative this Tuesday.
The program, aimed at supporting grid stability and optimizing battery usage, allowed users to exchange high state-of-charge batteries for lower ones in exchange for Nio Points.
Nio delivered 72,573 vehicles across its three brands — Nio, Onvo, and Firefly — in the second quarter, hitting the lower end of its guidance range of 72,000 to 75,000 units issued in its Q1 earnings report.
