Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Nio announced Monday it is bringing major year-end incentives in Germany, Europe’s largest automotive market.
After having extended in October its 0% financing incentive to its two sedans — the Nio ET7 and the ET5 — until the year end, the EV maker announced now a direct discount when purchasing one of both models.
“For a limited time only: Place your order for our sedans, the Nio ET7 and Nio ET5, by December 31, 2024, and secure an attractive price advantage of up to €15,000 plus receive five Swap Service Fee Coupons and 10,000 Nio Points,” Nio said in an email.
Nio is offering a €15,000 discount on its flagship ET7 sedan, while the smaller, more affordable ET5 comes with an €8,000 price reduction for orders placed before the year end.
The company’s entry-level model starts now at €49,050 ($51,600) when bought with Nio’s battery as a service (BaaS) where customers rent a standard range (75kWh) battery for 169€ per month or the long-range one (100kWh/h) for 289€ per month.
“In celebration of Nio’s 10th anniversary, we are also offering a 20% discount on selected Nio accessories in the Nio App from today until January 15, 2025 (while supplies last),” the EV maker added in the email.
According to Nio’s website for the German market, the company does not have any inventory of ET7s equipped with standard-range batteries. The cheapest long-range variant available, after the €15,000 discount, is priced at €73,350 — equivalent to $77,149.
The company registered 29 vehicles in Germany in November, according to data shared by the German Federal Motor Transport Authority earlier this month. The Shanghai-based manufacturer, which entered the German market in October 2022, has registered a total of 367 vehicles in the country this year.
Registrations nearly doubled in November after hitting their lowest level since February 2023 in October but remained among the weakest monthly performances of the year. As reported earlier this week, November registrations in the Dutch market stood at 11 vehicles.
Year-to-date sales of Battery Electric Vehicles (BEVs) in Germany have fallen by 24.2%, a decline mainly attributed to the removal of EV incentives in the country at the end of last year.
Tesla registrations in Germany dropped 55% year over year to 2,208 units, while the newcomer in the German market BYD recorded 431 units, up 23% from a year ago and up 24% sequentially.
A total of 35,491 new battery electric vehicles (BEVs) were registered in Germany last month, marking a 4.9% year-over-year decline and representing a market share of 15.3%.
Written by Cláudio Afonso | LinkedIn | X
