Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Nio has extended its 0% financing promotion in Germany, now available for new purchases of both its ET5 and ET7 sedans until the end of the year.
The Shanghai-based automaker registered 22 vehicles in Germany in September, a 37% decline from August (35 vehicles) and a 72.5% drop compared to the same month last year when it sold 80 units.
Nio initially introduced a similar financing offer in early August for its entry-level ET5 sedan, though it was limited to inventory vehicles and applied only to “selected configurations.”
In an email, the company said the offer now runs for three months and is applicable only to inventory vehicles.
— Nio ET5: 0.00% financing starting from €504 per month, including Standard Range Battery-as-a-Service (BaaS).
— Nio ET7: 0.00% financing starting from €700 per month, including Long Range BaaS.
Both financing plans are available for orders placed until December 31, 2024.
According to data from Germany’s Federal Motor Transport Authority (KBA), Nio registered 89 vehicles in the third quarter of 2024, a 33% decrease from the previous quarter.
This decline comes as the European Commission moves closer to implementing additional tariffs on Chinese-made electric vehicles.
Earlier today, the European Commission’s proposal for additional tariffs on China-made electric vehicles received the necessary backing from EU Member States.
However, Commission reiterated that the EU and China are continuing efforts to find an alternative solution that complies with WTO rules, effectively addresses the harmful subsidies identified by the investigation, and is both monitorable and enforceable.
The company expanded into the German market, along with four others, in October 2022, following its entry into Norway a year earlier — its first market outside China.
Year to date, the company led by William Li has registered 323 vehicles in the German market.
Last July, Nio partnered with the European taxi platform Freenow across four German cities including Hamburg, Berlin, Frankfurt, and Munich.
As part of the deal, taxi companies got access to both sedans Nio ET5 and ET7.
In September, battery electric vehicles (BEV) accounted for 16.5 percent of new registrations in the country, with 34,479 units sold, up 8.7 percent from the same month last year.
In China, Nio delivered 20,349 electric vehicles in September, up 35 percent year over year and marking the fifth consecutive month delivering more than 20,000 units.
Additionally, the month marked the first one which included deliveries of Nio’s first sub-brand Onvo. The more affordable brand delivered 832 units of its debut model, the L60.
Written by Cláudio Afonso | LinkedIn | X
