Electric carmaker Nio saw its sales in Sweden sink nearly 87% in April to just two units, national data showed on Friday.
The brand founded and led by William Li entered the Swedish market in October 2022 while also expanding to Denmark, Germany, and the Netherlands. Nio’s first market outside China was Norway, where the premium EV maker expanded to in 2021.
In the Dutch market, Nio had its worst monthly performance with also two units sold.
Over the first four months of 2025, Nio has registered 14 vehicles in the Swedish market. Sales between January 1 and April 30 were down 67.4% when compared with the 43 vehicles sold in the same period of 2024.
New energy vehicles made up 63% of all new car registrations in April in Sweden, with fully electric models accounting for 35% and plug-in hybrids for 28%. Registrations of plug-in hybrids rose 19% from April 2024 and are up 14% year to date.
In April, Nio sold just one unit each of its EL8 flagship SUV and its ET5 entry-level sedan. The ET5 is priced from 556,000 SEK in Sweden, or approximately $57,700.
Nio is currently offering business lease deals in Sweden for three of its models. The cheaper sedan Nio ET5 starts at a monthly cost of 6,724 SEK with a benefit value of 2,541 SEK.
The ET5 Touring, a station wagon variant, is available from 7,492 SEK/month with a benefit value of 2,607 SEK. The larger and more premium ET7 is offered from 7,655 SEK/month, with a benefit value of 3,670 SEK.
All prices exclude VAT and are based on a 36-month lease with 10,000 km per year, including Battery-as-a-Service (BaaS).
“Right now, we are offering attractive prices on business leases for the Nio ET5,” the company says on its Swedish website. “Experience the car of the future today with leasing starting from only 6,724 SEK/month and a benefit value from 2,541 SEK/month.”
Other Chinese carmakers, such as XPeng, Zeekr and BYD, sold 98, 82 and 50 units in Sweden last month, respectively.
Globally, the Nio brand sold 19,269 vehicles in April, increasing both sequentially (from 10,219) and year over year (from 15,620).
