Written by Cláudio Afonso | LinkedIn | X
Shanghai-based EV maker Nio saw its registrations in Germany—the EU’s largest car market—drop from 27 units in January 2024 to 18 units last month.
In January, battery-electric vehicles (BEVs) accounted for 16.6% of new registrations, totaling 34,498 units—a new record since the government scrapped incentives in late 2023. This also represented a 53.5% increase compared to the same month last year.
Last year, the William Li-led company registered 398 vehicles in Germany, marking a 68% decline from 2023. The UK surpassed Germany to become Europe’s largest market for BEVs in 2024. With nearly 382,000 new BEVs registered, the UK outpaced Germany by just over 1,000 units.
Earlier this week, the company announced that buyers of its ET5 and ET7 models in Germany will receive free access to its Battery-as-a-Service (BaaS) program for 2 years (up to 60,000 km/200 battery swaps), if purchased by June 30.
U.S. electric vehicle maker Lucid Motors registered 19 vehicles in January, up from just two a year ago. Meanwhile, Tesla’s registrations dropped 59% year over year to 1,277 units.
Chinese automaker BYD saw a 69% increase, registering 235 vehicles, while XPeng recorded 94 vehicles. Polestar, a brand under China’s Geely Holding Group, more than doubled its registrations to 235 vehicles.
Nio expanded to the German market in October 2022 and registered 1,263 units in 2023. Germany brought its EV subsidy program to an abrupt halt at the end of 2023 slowing down sales in 2024.
Globally, the Nio group delivered 13,863 electric vehicles in January, including 7,951 units from the main brand. Figures fell 21% from 10,055 in January 2024.
In China, Nio announced last week new purchase incentives for customers who place a deposit on a Nio-branded vehicle in February. New buyers will be eligible for a financing program requiring a minimum 20% down payment and offering 0% interest for up to five years.
