Nio broke sales records for the company, selling more than 20,000 units a month for the first time. And the monthly sales of one ES6 SUV model exceeded 10,000.
Nio had sales of 4,100 units last week, up 28.13 percent from 3,200 units the week before.
(Image credit: CnEVPost)
Nio's (NYSE: NIO) new ES6 has a slightly longer wait time in China, while the three other models are slightly shorter.
Customers locking in orders for the Nio ES6 are now expected to get deliveries in 3-6 weeks, slightly higher than the previous 3-4 weeks, information from the Nio App monitored by CnEVPost shows.
Nio officially launched the new ES6, its lowest-priced SUV, in China on May 24, with a current starting price of RMB 338,000 ($46,800), and its deliveries began on the night of the launch.
The last change in the Nio ES6 wait time was on June 26, when it went from about 5 weeks to 3-4 weeks.
Wait times for both the Nio ES7 SUV as well as the ET7 sedan both changed to 6-7 weeks today, slightly lower than the previous 6-8 weeks.
Nio launched the ES7 on June 15, 2022, with the first delivery on August 28, 2022.
The ES7 is Nio's second model based on the NT 2.0 platform after the ET7 sedan, and the first SUV on this second-generation platform, with a starting price of RMB 438,000 including battery.
Originally launched at the Nio Day 2020 event on January 9, 2021, the Nio ET7 is the company's first sedan, with deliveries beginning on March 28, 2022.
On the first day of the Shanghai auto show on April 18, Nio launched the 2023 ET7, with prices currently starting at RMB 428,000. Deliveries of the new ET7 began on May 19.
On June 26, the wait time for both the ES7 and ET7 went from about 3 weeks to 6-8 weeks.
The latest wait time for the ET5 Touring is about 3 weeks, slightly lower than the previous 3-4 weeks.
Nio officially launched the ET5 Touring in China on June 15 with the same price as the regular ET5, starting at RMB 298,000.
ET5 Touring deliveries in China started on June 15.
Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, although down 17.39 percent from 12,961 in the same month last year, according to figures it announced on July 1.
Last week -- June 26 to July 2 -- Nio sold 4,100 units, up 28.13 percent from 3,200 units the week before, according to data shared by Li Auto (NASDAQ: LI) yesterday.
Wait times for both the Nio ES7 and ET7 have gone from about 3 weeks to 6-8 weeks, and for the ES6 from about 5 weeks to 3-4 weeks.
(Image credit: CnEVPost)
Nio's (NYSE: NIO) two more expensive models have longer wait times in China, while the new ES6 has a slightly shorter wait time.
Consumers locking in orders for the Nio ES7 now are expected to get deliveries in 6-8 weeks, up from about 3 weeks previously, the latest information from the Nio App monitored by CnEVPost shows.
Nio launched the ES7 on June 15, 2022, with the first delivery on August 28, 2022.
The ES7 is Nio's second model based on the NT 2.0 platform after the ET7 sedan, and the first SUV on the second-generation platform, with a starting price of RMB 438,000 ($61,000) including the battery.
The wait time for the Nio ET7 in China has also gone from about 3 weeks to 6-8 weeks today.
The Nio ET7 was originally launched at the Nio Day 2020 event on January 9, 2021, the company's first sedan, with deliveries beginning on March 28, 2022.
On the first day of the Shanghai auto show on April 18, Nio launched the 2023 ET7 with prices starting at RMB 428,000, the same as the previous version. Deliveries of the new ET7 begin on May 19.
While the wait times for Nio ES7 and ET7 have become longer, the wait time for the new ES6 has been reduced to 3-4 weeks today from about 5 weeks previously.
Nio officially launched the new ES6 on May 24, and deliveries started that night. The model is Nio's cheapest SUV, with a starting price of RMB 338,000.
The electric vehicle maker announced on June 24 that deliveries of the new ES8 will begin on June 28. The Nio App currently shows the wait time for the model is still June.
The new ES8 was launched on Nio Day 2022, December 24, 2022, and is Nio's transition to the NT 2.0 platform for its first production vehicle.
The Nio EC7 currently has a wait time of about 4 weeks, the same as before. The wait times for the ET5 and ET5 Touring are also unchanged at about 3 weeks and 3-4 weeks respectively.
Overall, the ES6 is a very accomplished car. I cannot even pick an obvious problem apart from that lack of storage on the back of the front seat.
This is a guest post by Haoran Zhou, previously a member of NIO's PR team in China. The review was originally published as a video on the YouTube channel Telescope望远镜.
Hello and welcome to the Telescope. Every week we bring you fresh insight from the biggest car market in the world today.
We're on the launch of the NIO ES6. With over 127k units sold, the ES6 was, is, and by the looks of today, always will be NIO's biggest seller.
I know I said that with the ET5, but some people are not happy with some of the compromises NIO made on the ET5. Because of the battery swap system, for example, the seat height. They think the ride is a bit too harsh. They don't like there's not enough room in the back.
None of those problems exist on the ES6. This finally is the complete package.
The color we have here today is the stratospheric blue. This is the only standard color that's not black, white, and gray. So, this is going to be a very popular color.
We are on the optional twenty-inch wheels. I think this is only €600 extra. And this is on the low rolling resistance Goodyear tire.
In a moment you will see some of the performance footage we did on the airfield. This low rolling resistance tire when you are deliberately trying to extract performance figures out of it there is a difference between this and the Pirelli. But most of the time, I recommend people just buy this.
Several features on the exterior. First is this much bigger air curtain to send some airflow to seal off all of the turbulence and the wake of the front wheels. The second feature is only noticeable at certain angles, but once you notice that you cannot unseen it. This fully flush side window. The B-pillar, C-pillar and D-pillar no longer sticks out. It is fully flush with the side window.
This feature is pioneered by the Porsche Panamera. It's also present on the latest Range Rover. This is a design feature but it also has an aerodynamic benefit. Because once you hide all of these pillars away, the airflow from A-Pillar onwards will stay attached all the way to the rear of the car. That cuts drag.
All of these contribute to the 0.25 drag coefficient for this relatively boxy SUV. This is not a coupe SUV. You will find a coupe SUV that has a lower drag coefficient than this. But you will not find another traditional upright SUV that is as slippery as this.
The ES6 of course has all the cameras and a lidar that is standard on all of the NT 2.0 platform NIO models. This will have all the capabilities we showed you earlier in the ET7 NOP+ video. This of course being a NIO can battery swap.
We did a quick swap on the way here. So this car as big and as wide and as heavy as it is, is actually the most potent long-distance electric SUV on the market today. It's irrelevant about its range. It's so strong on long-distance driving purely because of that battery swap.
The new ES6 is about fifty millimeters lower in height compared to the previous generation, which is actually quite significant. You really see it on the rear of the car. They put more shape into this rear body.
This crease here is actually an aerodynamic feature called "the departure curve" being integrated as a design element. This basically sends the airflow away from the car. This deliberately separates the airflow from following the body all the way around, creating more drag.
This boot is competitive in its class in terms of capacity. This is about 580 liters. So it's right in between the coupe version of the Porsche Cayenne and the regular Porsche Cayenne. You also have over 100 liters of underfloor storage. So practicality wise this is competitive in its class.
I know we already did a static review of the ES6. But at that time that was before the press conference. We were not allowed to sit in the only ES6 available at the time. Now sitting in the car one thing i can tell this windscreen is much smaller in terms of opening area than the previous generation ES6.
I think this is where the lowered fifty-millimeter height comes in. To give an example the previous ES6 feels like it has a windscreen that is as big as a Range Rover Sport. This is more of a BMW X3 size windscreen. You probably don't know what I'm talking about. But
If you have sat in the previous generation ES6, now sitting here, this is the biggest difference in terms of overall visibility that you can tell. The rest of the cabin is 95 percent NIO ES7, which means I think is too good for the intended role of the ES6. The only area you can tell that this car is trying to cut some cost is the lower half of the door. It's using the same recycled plastic fiber seen on the ET5.
In the rear cabin, it's surprisingly spacious. The wheelbase has grown by 15mm. The headroom is actually better than the previous ES6 because they drop the floor by as much as, I think, 9-10cm. That is a huge amount in terms of packaging.
They expanded the panoramic glass, so you get a little bit more room by having the glass extended all the way to the top of your head.
Another important area is the seats. Because the slimmer the seat, especially the seatback, the more room you're going to get for the rear passenger. This seat looks significantly slimmer than the previous generation ES6. That has very bulky, sporty-looking seats. Looks cool but it takes up a lot of space.
This is an in-house developed seat system and it does look much slimmer. But one area I still don't understand is why there is still no storage space on the back of the front seats. I mean this may eat away 2cm of knee room. You have more than two centimeters of knee room available. I'm five foot eleven. This is easily doable if you want to add a storage compartment.
We are on an airstrip to demonstrate the performance, but I don't think there's going to be any doubt about this. All NIO models up until this point have an excessive amount of performance. This is no exception. 490ps, 4.5s to a hundred kph claimed. We're going to show you how does that feel like.
This is on the low-rolling-resistance tire. If we are on the Pirelli P-Zero, this should be even better, especially the braking.
The next part is where I was surprised. I actually drove this car briefly about two weeks ago on a damp track. On the solemn 21m apart, the standard setup, ES6 can regularly maintain close to 60 kph. I have recently driven the best-handling petrol-powered SUV on an F1 track.
That car can also only maintain close to 60 kph. So this car's solemn performance is unusually good. I need to sample more high-performance electric SUVs to see if this is an attribute specific to the ES6 or if it's just that all-electric SUVs are very good at this slalom test.
Now we are out of the airstrip and into the real world. This is a closed-off, very nice piece of mountain road that it is reserved for the ES6 test drive. I am happy to report that this is probably the NIO that most people wanted.
I still prefer the ET5 because it is firmer and sportier. This generation of ES6 is head and shoulders above the previous generation ES6. I criticized the dynamics of the first-generation NIO SUVs in the original ES8 review. I thought it was too comfort biased. The whole car is very floaty. This car is not floaty at all.
NIO achieved all of that improvement while making the spring rate on the suspension softer. Overall, you feel this car is a lot more stable. And it grips the road much better than the previous generation ES6 with none of the wobbly sensations.
Another highlight is the ESP system on this car. You probably saw earlier in a slalom test that it's achieving very good average speed. On a closed-off airstrip and also on these mountain roads, we've tested back-to-back to BMW X3.
It's surprising that, to me anyway, the X3 feels like the more conservative setup on the ESP system. I never thought that day would come for NIO to give the drivers more liberty on the body control of the car.
Another aspect that you know this generation has made a huge leap forward is just that sense of size this car feels on the road. This feels like a much smaller car because the body is and especially the rear and follows the direction so much better.
The previous generation ES6 on the road feels as big as the ES8 while being significantly shorter. This feels like a much smaller car although actually on the size they are virtually the same.
All the time I've been speaking to you on camera, I'm actually in the sport mode which is not a mode that I will use on a previous ES6. All NIO cars previously, they all have a lot of performance. But you never felt like they're set up for enthusiastic driving.
I think this car is set up for the sport mode. Even the sport plus mode is much more usable. For the previous generation cars, not just the ES6, the ES8, and EC6 in general, I will only use the sport plus mode when I was trying to demonstrate performance to new customers or new journalists.
This is actually in daily driving, even the sport plus mode is much more usable. That's just another area you know this car is so much more developed than the previous generation.
Overall, the ES6 is a very accomplished car. I cannot even pick an obvious problem apart from that lack of storage on the back of the front seat.
It's big enough. It's very well made. It's very luxurious inside. It can battery swap. It has very strong autonomous driving hardware. Currently, on software this is behind the Avatar we reviewed a week ago and XPeng on the urban assisted driving functions. But NIO will have that function ready before the end of this year.
But currently, the biggest talking point on the ES6 is not about the car itself, because we know how good the ES6 can be. And it really is as good as we expected. But it's about the price.
If I put my ex-NIO employee hat on, and look at the product lineup as a whole. I can very easily give you a very educated guess on the price of this ES6. Actually, I already did that in the static review of the ES6. I guess it will be priced around 358-368k RMB. By the time you're watching this video, you would have already known whether my guess is correct or not.
Because we are filming on May 16, about nine days before the actual launch. I think if you look at this car close enough, you would come to my conclusion that the ES6 is easily worthy of that price. However, whether the market has the patience to find that out, whether the customers have the patience to find that out, is a separate question that I cannot answer.
That is all from the Telescope today. If you enjoy this video, keep watching, keep subscribing, more videos coming along very soon.
Hours after the ET5 Touring was launched in China, NIO (NYSE: NIO) rolled out the model, as well as the EL6, known in China as the new ES6, in Europe.
Both models will be available in Germany, the Netherlands, Sweden, Denmark and Norway, and deliveries will both begin in the fourth quarter.
Including the battery, the ET5 Touring starts at 59,500 euros ($65,130) in Germany for the 75-kWh standard range version and 68,500 euros for the 100-kWh long-range version.
For reference, both versions of the ET5 Touring start at the same prices in China as the regular ET5, RMB 298,000 ($41,820) and RMB 356,000 respectively.
In the Netherlands, the starting price for the 75-kWh ET5 Touring is €63,900 ($69,930) and the 100-kWh version is €72,900.
They cost 706,000 SEK ($66,560) and 816,000 SEK in Sweden, 517,000 DKK ($75,950) and 637,000 DKK in Denmark, and 532,869 NOK ($50,740) and 620,619 NOK in Norway, respectively.
NIO ET5 Touring Price with Battery in Europe
NIO ET5
Germany
Netherlands
Sweden
Denmark
Norway
75-kWh
59,500 EUR
63,900 EUR
706,000 SEK
517,000 DKK
532,869 NOK
100-kWh
68,500 EUR
72,900 EUR
816,000 SEK
637,000 DKK
620,619 NOK
For the EL6, including the battery, the 75-kWh starts at €65,500 in Germany and €74,500 for the 100-kWh version. Because of the lawsuit with Audi, NIO's ES series models have been rebranded as the EL series in Europe.
The EL6 starts at €67,900 and €76,900 in the Netherlands, SEK 769,900 and SEK 879,000 in Sweden, DKK 547,000 and DKK 667,000 in Denmark, and NOK 595,016 and NOK 682,766 in Norway, respectively.
Including the battery, the starting price of the new 75-kWh ES6 in China is RMB 338,000, and RMB 396,000 for the 100-kWh version.
NIO EL6 Price with Battery in Europe
NlO EL6
Germany
Netherlands
Sweden
Denmark
Norway
75-kWh
65,500 EUR
67,900 EUR
769,000 SEK
547,000 DKK
595,016 NOK
100-kWh
74,500 EUR
76,900 EUR
879,000 SEK
667,000 DKK
682,766 NOK
NIO has previously said that the base prices of its models are essentially the same globally, with the difference being that they take into account factors including transportation costs, local taxes and operating costs in different regions.
If consumers choose to purchase the ET5 Touring or EL6 using the BaaS (battery as a service) model, the starting price in Germany is €12,000 lower for the 75-kWh version and €21,000 lower for the 100-kWh version.
It is worth noting that NIO's battery swap stations in Europe are only available to owners of vehicles purchased using the BaaS model. In China, these stations are available to all NIO consumers whether they purchase a model with batteries included or based on the BaaS model.
In addition to the purchase option, NIO also offers a subscription option in Europe. In Germany, for the EL6, if consumers choose a fixed-term subscription of 36 months, the monthly price is €1,179 for the 75-kWh version and €1,309 for the 100-kWh version.
NIO could bring the ET5 Touring and the new ES6 to European customers at a launch event next week.
NIO (NYSE: NIO) will launch new models in Europe next week, and the latest information suggests it may be more than just the ET5 Touring.
"Brand new NIO models are coming. June 15, 19:00 CEST," reads the text of a picture on the front page of NIO's English-language website.
"Join us online and get a preview experience of the brand new NIO models www.nio.com #inspiredbylife," NIO says in the text included in the "Add to Calendar" button on its website.
The event's European start time corresponds to June 15 at 1:00 pm US Eastern Time, or June 16 at 1:00 am Beijing Time.
Recent information indicates that NIO is expected to launch the ET5 Touring at the event, a model that has been seen frequently in Europe as well as China over the past two months.
The ET5 Touring has been quietly arriving at NIO stores in China, longtime NIO follower and car blogger @肉肉爸比ev said on Weibo yesterday.
The model will enter NIO's showrooms on the evening of June 9, and those interested can check it out on June 10, the blogger said, without providing any further information.
NIO will report first-quarter earnings before the US stock market opens on June 9 and then hold an analyst call.
NIO's management had previously mentioned that this variant of the ET5 would debut in Europe, and the model was developed primarily for European customers.
It's not clear if NIO will hold a separate launch for the model in China, as the company said on June 1 that the ET5 Touring will be launched globally in June and start its delivery with Chinese market.
NIO used the word "models" instead of "model" in the event preview on its English website, suggesting that it will launch more than one model at next week's event.
In addition to the ET5 Touring, NIO may also launch the new ES6 to local customers at the European event.
The new ES6 has a starting price in China of RMB 368,000 ($51,740) including batteries, making it the cheapest NIO SUV.
NIO last held a launch event in Europe on October 8, 2022, when the company introduced the ET7, EL7 and ET5 to European customers.
The EL7 is the ES7 sold in China, and that new name is due to NIO's lawsuit with Audi. The ES6 is expected to be similarly known as the EL6 in international markets.
Confirmed orders for the ES6 accounted for 35-40 percent of new orders in May, meaning inflows since the model's launch in the last week of May have been quite meaningful, Morgan Stanley said. | NIO US | NIO HK | NIO SG
(Image credit: CnEVPost)
The new ES6 is critical for NIO (NYSE: NIO) to turn around its weak sales performance. So what has the model contributed to NIO since its launch? A new research note from Morgan Stanley provides a good reference.
NIO's overall new order intake hit a year-to-date high, boosted by the launch of the new ES6, analyst Tim Hsiao's team said in a research note sent to investors on June 5.
The team said they have been tracking some feedback from startups' major sales channels in major Chinese cities since early last year to better understand the latest market dynamics.
The team shared their key findings in their research note while noting the limitations of their sampling methodology.
Confirmed orders for the ES6 accounted for 35-40 percent of new orders in May, implying quite a meaningful inflow since the model hit the market in the last week of May, the team said.
Including the battery, the new ES6 has a starting price of RMB 368,000 ($51,680), making it NIO's least expensive SUV.
NIO saw overall traffic at its flagship stores in Tier 1 cities increase 30-40 percent month-on-month in May and continued that momentum in early June after the company brought the new ES6 to market, Hsiao's team said, citing their latest checks.
"Overall store traffic at the stores we track is back to the level seen this February but still 20% below last September's level, when the company rolled out ET5," the team said.
NIO stores' retail conversion rate -- the ratio of orders to traffic -- remained largely steady at 5 percent in May, the team said, adding that consumers need more time to get a closer and deeper look at the new model and they expect conversion rates to climb gradually with broader test drives.
Hsiao's team believes the starting price for the new ES6 looks a bit conservative, but their checks last week at major NIO flagship stores in Tier 1 cities suggest that order momentum has been picking up.
"Certain stores we talked to further suggest that NIO's orders as a whole exceeded 9k units in May. Within this, ES6 basically dominated order inflow after taking confirmed orders from last week of May," the team said.
On a full-month basis, the new ES6 accounted for more than 35 percent of total orders, which suggests a quite meaningful turnaround at the end of the month, the team said.
Orders for NIO look a bit overly concentrated at the moment, Hsiao's team said, adding that some salespeople they interviewed suspended order intake for the ES8 and EC6 during the model changeover.
NIO's sedan models, such as the ET7, saw orders drop by about 20 percent in May from a year earlier, according to the team.
"ET5 and the all-new ES6 contribute about 80% of new orders, implying likely greater volatility if other high-margin models fail to catch up," the team said.
Notably, NIO is still in the process of getting the new ES6 capacity to climb, and the model contributed very little to deliveries last month.
The EV maker delivered 6,155 vehicles in May, down 7.55 percent from April and down 12.37 percent year-on-year, according to data released June 1.
The deliveries included 2,396 SUVs and 3,759 sedans, NIO said.
NIO will complete the capacity ramp for the new ES6 in June to deliver vehicles as soon as possible, Jim Wei, the company's senior vice president of customer operations, said in a June 1 announcement of May delivery figures on the NIO App.