Written by Cláudio Afonso | LinkedIn | X
Nio’s vehicle deliveries declined for a second consecutive month in November, following a period of strong performance earlier in the year. Deliveries for the Nio brand, excluding its sub-brand Onvo, peaked at 21,209 units in June and remained above the 20,000 threshold through September.
However, the beginning of Onvo’s production on September 28 also marked the start of the decline in Nio-brand deliveries to 16,657 units in October and 15,493 units in November, according to data released by the company on Sunday.
Following the announcement of last month’s deliveries, the electric vehicle maker has increased incentives for the last month of 2024, including price adjustments on the vehicle’s interior, loyalty benefits, and trade-in offers.
As part of its Battery-as-a-Service (BaaS) program, Nio is offering a “rent for three months, get one-month free” promotion. Additionally, first-time car owners using the BaaS program can benefit from rental discounts of up to 15 months. The EV maker also announced that customers purchasing a car through a trade-in program will receive 20 free battery swaps.
Customers placing a deposit in December are eligible for a 20,000 yuan customization fund, and five years of complimentary access to the NOP+ driver assistance system — up from three years.
Loyalty discounts include 5,000 yuan ($686) off for repeat purchases of the ET5, ET5 Touring, ES6, or EC6 models, and 10,000 yuan ($1,372) for the higher-end ET7, ES7, EC7, or ES8. Customers who placed deposits between October and November and have taken delivery will receive retroactive loyalty points. A trade-in subsidy of up to 20,000 yuan ($2,745) is also available, along with charging subsidies of up to 3,000 yuan ($412) via a lottery on the company’s official App.
The company delivered a total of 20,575 vehicles in November, including 5,085 units of its mass-market sub-brand Onvo. The figures showed an increase of 28.9% from a year ago —when the Onvo brand was not yet launched— and a drop of nearly 2% from October when both brands delivered a total of 20,976 electric vehicles.
The Shanghai-based company announced during its third-quarter earnings call on November 20 that it expects to deliver between 72,000 and 75,000 vehicles in the current quarter. With a combined total of 20,976 vehicles delivered in October across its Nio and Onvo brands, the guidance implies the company anticipates delivering between 51,024 and 54,024 units in November and December combined.
Following the November numbers, the company needs now to deliver 30,449 vehicles in December to reach the low end of the guidance it provided.
At the same earnings call, Nio’s founder and CEO William Li said the company “is very confident” about the product lineup adding that volume will double next year.
Written by Cláudio Afonso | LinkedIn | X
