Shanghai headquartered Nio Group delivered a total of 19 units in the Netherlands in October, official registration data showed.
Of those, ten units were from the main Nio brand while the remaining nine belonged to the Firefly sub-brand.
Nio brand’s figures represent the lowest monthly sales in four months, and the tenth consecutive month of sales decline compared to the previous year.
According to data from BOVAG, registrations for the Nio brand fell by one unit compared to the same month last year.
The Nio Group as a whole saw an increase of eight units year over year, with registrations being down by just one unit compared to September.
For the Nio brand specifically, however, registrations dropped sharply — from 19 units in September to about half that number in October.
From January 1 to October 31, Nio sold 113 vehicles in the Netherlands — nearly half of the 202 units registered in the same period a year before.
ET5 Leads Dutch Sales
Of the 10 units, eight were ET5s and two represented the second-generation EL8 SUV. The platform does not distinguish between the Et5 sedan and the station wagon variant, the ET5 Touring.
Nio‘s total 19 vehicles sold in September were ET5s, while in August they represented 17 out of 18 units.
The brand has announced several incentives for the models, as it aims to clear the inventory of its 2023 model year EVs and increase demand.
According to the inventory page on its website, the company still has 10 ET5 and ET5T units. There are also one ET7, two EL8 and 18 EL6s available for purchase.
Nio Nederland announced last week on LinkedIn that customers are being offered a “tax benefit and a lower net addition on the Nio ET5, ET5 Touring or EL6,” whether opting for a “business lease price or a special purchase price.”
Those purchasing inventory units of the ET5 or ET5 Touring (ET5T) can receive an additional trade-in bonus, available until December 31 or while supplies last.
In addition, Nio is providing a special 1.99% interest rate on ET5 and ET5T purchases made between October 1 and December 21, when the vehicle is purchased with the Battery-as-a-Service (BaaS) subscription.
Nio Founders European Visit
Nio founders William Li, Qin Lihong and the CFO Stanley Qu are touring European operations this week.
On Monday, and together with President of the sub-brand Firefly Daniel Ge, the management visited the company’s hub in Utrecht, where they met with customers and European distributors.
The visit comes as the EV maker adopts a mixed business model in Europe, combining direct-to-customer sales in its existing markets with a dealership approach in new ones.
The local partners are responsible for both sales and after sales activities, allowing the company to reduce fixed costs.
So far, the company will continue to operate exclusively through direct sales in Norway, Sweden, and the Netherlands.
