Nio delivered 10,055 EVs in January, down 44% MoM

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Nio delivered 10,055 EVs in January, up 18.2% from 8,506 in previous year, the company announced in a press release. However, the comparison doesn’t hold as last year, the Chinese New Year fell on January 22.

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Nio deliveries fell 44% compared with December, when Nio delivered 18,012 vehicles in a massive end-of-year sales push. The cumulative deliveries reached 459,649 as of January 31, 2024.

The 2024 Chinese New Year (CNY) fell on February 10, while the 2023 CNY fell on January 22, so the year-on-year comparison doesn’t make sense. For a proper YoY comparison, we would need to wait until the end of February and compare 2024 January + February sales vs the same two months in 2023.

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The deliveries consisted of 6,307 SUVs and 3,748 sedans. Nio didn’t announce the model sales breakdown. According to data monitored by CarNewsChina, about 40% of sales were made by Nio ES6 SUV, and nearly 30% were made by ET5 and its station wagon variant ET5 Touring.

In January, Nio continued to expand its battery swap alliance, trying to convince more automakers to join their swapping technology, which is now open to the whole industry, according to company executives. Nio battery swap alliance currently consists of Geely, Changan, JAC, and Chery. Despite memorandums and agreements being signed, no details about how the cooperation would look were released.

Nio sells eight models in China, two making about 70% (ES6, ET5/T). The other models are the ES8 large SUV, ET7 large sedan, EC7 and EC6 coupe SUVs, and ES7, which has the lowest sales among the Nio lineup, about 100 – 200 units in January. In Europe, the ES series is sold as the EL series due to a legal battle with Audi, so ES6 = EL6, ES7 = EL7, etc.

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Nio announced it has no plans to launch new models in 2024. However, we can expect annual updates of the existing lineup. In December, Nio also revealed the executive sedan ET9, which will launch in early 2025. The presale price is 800,000 yuan (112,600 USD).

Despite no new Nio-badged models this year, we will see new vehicles from Nio as the company plans to unveil the entry-level Alps brand in March or April, and deliveries should start later in 2024, according to the report. In 2025, Nio will launch its second sub-brand, Firefly, focusing on small electric cars.

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