Nio Group‘s weekly new orders reached approximately 3,500 units in China over the first three days of March, the highest single-week level for the group so far in 2026.
The figures were revealed by Deutsche Bank in a new research note sent to clients on Wednesday, citing dealer channel checks, as first reported by CnEVPost.
The jump followed a series of promotional campaigns the Shanghai-based company launched on March 1 for its main Nio brand and the cheaper Onvo sub-brand, analyst Wang Bin wrote.
Onvo’s vehicle deliveries reached a new record low in February, while the Nio brand continues to face a high dependence on its best-selling model to post growth as demand for all the other models weakens.
Nio ES8
Deutsche Bank said the incentives appear to have been prompted by a rapidly shrinking order backlog for the ES8 full-size SUV, Nio‘s best-selling model.
As reported by EV, delivery wait times for the third-generation ES8 have fallen steadily since the redesigned model launched in late September 2025.
Customers initially faced a 24-to-26-week wait — equivalent to half a year — after Nio received more than 100,000 firm orders within days of the launch.
The timeline was cut to 20-21 weeks by early December, 13-14 weeks by late January, and 8-9 weeks by mid-February.
According to Nio’s website as of Wednesday, new orders face now a waiting time of 4-5 weeks, as production is now running close to the rate of incoming demand.
Customer wait times for the ES8 dropped from 13 to 14 weeks in February to 4 to 5 weeks in March, Deutsche Bank noted — a signal that production was outpacing incoming demand.
In February — a month impacted by the extended Chinese New Year holiday — the company delivered 11,260 ES8 units in China.
New Incentives
Nio said on Sunday that ES8 buyers in March receive a 10,000 yuan ($1,450) purchase tax subsidy and 7-year low-interest financing, along with five years of free NOP+ driver-assistance usage.
Customers who purchased an ES8 in January or February will receive 100,000 Nio points, equivalent to 10,000 yuan, as a retroactive reward.
Buyers of the entry-level ET5, ET5T, ES6 and EC6 models can access 7-year financing at 0.49% annual interest with minimal down payment and no fees or penalties.
Onvo simultaneously launched similar policies for its L90 and L60 models, offering a cash subsidy equivalent to 5% of the vehicle purchase tax and the same 7-year low-interest loan.
ES9 Flagship
Nio founder and CEO William Li announced on Tuesday that the company’s new flagship SUV, the ES9, will be unveiled at a technology launch event on April 9 — a day ahead of the previously stated schedule.
“You could say it’s the world’s most technologically advanced SUV, an executive flagship SUV, or a technology-focused executive SUV flagship,” Li said during a livestream.
The full-size, three-row SUV will incorporate advanced technologies from the ET9 executive sedan, including the SkyRide chassis system.
Deutsche Bank said the model is expected to compete with the Porsche Cayenne Turbo and BMW X7.
The ES9 will officially go on sale in late May, with deliveries starting on June 1.
Product Pipeline
Li revealed during Tuesday’s livestream that Nio‘s entry-level “5566” lineup — the ET5 sedan, ET5 Touring wagon, ES6 and EC6 SUVs — will receive a facelift within the next two months.
The facelifts are interim updates. A more comprehensive refresh based on Nio‘s third-generation platform is scheduled for 2027.
Additionally, a new version of the five-seat ES7 SUV will debut later this year, alongside the ES8 and ES9 in what the company is positioning as a full large-SUV offensive.
Li said on Tuesday that two major training updates to the Nio World Model are planned for the second and fourth quarters, with an upgrade to NOMI version 4.0 that will introduce reinforcement learning to improve dialogue and intelligence capabilities.
