Three days ago, on October 8, wait times for four of Nio's least expensive models were all reduced to 2-3 weeks.
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Wait times for the Nio ES8 have been shortened from 6-7 weeks to 5-6 weeks, the EC7 has been shortened from about 4 weeks to 3-4 weeks, and the ET5 and ET5 Touring have both gone from about 3 weeks to 4-5 weeks.
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The ES8 delivered 1,917 units in July, up 226.02 percent from June and a new high since December 2021.
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The new ES8 was launched in December 2022 and currently has a starting price of about $68,900 including the battery.
(Image credit: Nio)
Nio (NYSE: NIO) has begun deliveries of the new ES8 in China, having only allowed customers to lock in orders for the flagship SUV earlier today.
Deliveries of the new ES8 have officially kicked off, Nio announced on Weibo this afternoon.
The electric vehicle (EV) maker did not provide more information, including the number of first deliveries of the new ES8.
Nio launched the new ES8 on Nio Day 2022, December 24, 2022, as its first production vehicle transitions to the latest NT 2.0 platform.
The model is offered in three versions – regular version, Executive Edition, and Signature Edition -- and after price adjustments over the past few months, they now start at RMB 498,000 ($68,900), RMB 518,000, and RMB 598,000, respectively, including the battery.
If customers choose to purchase the car using the BaaS (battery as a service) plan, the starting prices for the three versions are RMB 428,000, RMB 448,000 and RMB 470,000 respectively, with the monthly battery rental cost starting at RMB 980.
It's worth noting that as Nio's highest-priced model, the new ES8 is unlikely to contribute much in terms of sales, even though it is one of the best models in its market.
In May, retail sales of models priced above RMB 400,000 in China were 53,000 units, accounting for just 3 percent of all passenger car sales of 1.74 million units, according to the China Passenger Car Association (CPCA).
Prior to the launch of the new ES8, its predecessor saw its highest sales ever in December 2021 at 2,782 units, contributing 26.5 percent of Nio's total sales of 10,489 units for the month, according to data monitored by CnEVPost.
Nio ES8 sales have been below 2,000 units since January 2022, with the less expensive ES6 contributing the bulk of sales in most months.
Nio launched the new ES6 on May 24, with a current starting price of RMB 338,000 including the battery. Deliveries of the new ES6 began on launch night.
When the EV maker reported first-quarter earnings on June 9, it guided for second-quarter deliveries of between 23,000 and 25,000 vehicles, meaning it expects to deliver 10,187-12,187 vehicles in June.
Nio sold 3,200 units last week and 8,000 from June 1 to June 25, according to figures shared yesterday by its local counterpart Li Auto.
($1 = RMB 7.2274)
NIO's new order intake hits year-to-date high with launch of new ES6, Morgan Stanley says
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Deliveries of the new Nio ES8, which starts at about $68,900 including the battery, will begin later today.
(Image credit: Nio)
Nio (NYSE: NIO) has begun allowing Chinese consumers to lock in orders for the new ES8, with first deliveries set to begin later today.
The new ES8 began accepting locked orders today, and show cars and vehicles for test drives are already arriving at the company's showrooms in various cities, according to a post on Nio's mobile app today.
The flagship SUV is Nio's transition to the NT 2.0 platform for its first production vehicle, with a length, width and height of 5,099 mm, 1,989 mm and 1,750 mm, respectively, and a wheelbase of 3,070 mm.
Nio is offering three options for the new ES8, including the regular, Executive and Signature editions, with starting prices of RMB 498,000 ($68,900), RMB 518,000 and RMB 598,000, respectively, including the battery.
If consumers choose to purchase the car using the BaaS (battery as a service) plan, the starting prices for the three versions are RMB 428,000, RMB 448,000 and RMB 470,000, respectively, and the monthly battery rental fee starts at RMB 980.
The first owners of the new ES8 will receive a 6-year or 150,000 km vehicle warranty and a 10-year unlimited mileage warranty on the battery, motor and electric control system. They will also receive free lifetime roadside assistance and up to 8 GB of traffic per month for 6 years of free car internet connectivity.
Consumers who purchase the new ES8 on or before July 31 will receive a home charging pile worth RMB 7,500, NOP+ two years free access worth RMB 9,120, Nio Air AR glasses and Nio Air smart ring worth RMB 2,597.
Nio launched the new ES8 on Nio Day 2022 on December 24, 2022, when the starting prices for the three versions including the battery were RMB 528,000, RMB 548,000 and RMB 638,000 respectively.
On June 12, Nio made the previously free battery swap benefit optional, thus reducing the price of all models by RMB 30,000.
Following this move, the starting prices of the three versions of the new ES8 were RMB 498,000, RMB 518,000 and RMB 608,000 respectively.
On June 24, Nio announced that the price of the Signature Edition of the new ES8 was adjusted to RMB 598,000, a further reduction of RMB 10,000. The prices of the regular and Executive editions remain unchanged.
Consumers can purchase the new ES8 with the optional benefit upgrade package in the vehicle configurator for RMB 30,000. The package includes four free battery swap services per month and a 10-year unlimited mileage warranty on the vehicle.
Consumers who purchase before July 31 can upgrade the 4 free battery swaps per month in the package to 6 per month if they forgo the free home charger.
Deliveries of the new ES8 will begin later today, Nio said.
Nio sold 3,200 units last week and 8,000 between June 1 and June 25, according to figures shared yesterday by Li Auto.
The company guided for second-quarter deliveries of between 23,000 and 25,000 vehicles when it reported first-quarter earnings on June 9, meaning it expects to deliver 10,187-12,187 vehicles in June.
($1 = RMB 7.2274)
China NEV insurance registrations for week ending Jun 25: Tesla 16,700, Li Auto 7,500, Nio 3,200
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Show cars of the new ES8 became gradually available in NIO showrooms starting June 24, and NIO added more features to the model as standard.
(Image credit: NIO)
NIO (NYSE: NIO) has announced delivery schedules for the new ES8 and reduced the price of the highest-priced version by RMB 10,000 ($1,400) as delivery of the flagship SUV approaches.
The company said today that show cars of the new ES8 became gradually available in NIO showrooms beginning June 24, and the model will allow consumers to lock in orders, test drive and begin delivery on June 28.
NIO launched the new ES8 on NIO Day 2022, December 24, 2022, the company's transition to the NT 2.0 platform for its first production vehicle.
With a length, width and height of 5,099 mm, 1,989 mm and 1,750 mm respectively, and a wheelbase of 3,070 mm, the new ES8 targets the market for luxury SUVs, including Land Rover.
It is powered by NIO's second-generation electric drive platform with a maximum drive power of 480 kW and maximum torque of 850 Nm, and can accelerate from 0 to 100 km/h in 4.1 seconds.
NIO is offering three options for the ES8, including the regular, Executive and Signature editions. Here is the pricing at launch:
Including the battery, the regular version of the new ES8 starts at RMB 528,000 for the standard range version with the 75-kWh battery. The 100-kWh version starts at RMB 586,000. If consumers rent the battery under BaaS solution, they will both cost RMB 458,000, and the monthly battery rental fees are RMB 980 and RMB 1,680 respectively.
Including the battery, the starting price for the two range versions of the new ES8's Executive Edition is RMB 548,000 and RMB 606,000 respectively. Both start at RMB 478,000 under BaaS solution, and the monthly battery rental costs RMB 980 yuan and RMB 1,680 yuan respectively.
The signature version of the model is only available with the 100-kWh battery pack, starting at RMB 638,000 and RMB 510,000 in BaaS mode, with a monthly battery rental cost of RMB 1,680.
On June 12, NIO made the battery swap benefits, previously free several times a month, optional, thus reducing the price of all models by RMB 30,000.
Following this move, the starting price of the new ES8, including the battery, becomes RMB 498,000 for the regular edition, RMB 518,000 for the Executive Edition and RMB 608,000 for the Signature Edition.
Notably, NIO announced today that the price of the Signature Edition of the new ES8 has been adjusted to RMB 598,000, a further reduction of RMB 10,000.
In addition to the price reduction, NIO has added an in-car refrigerator and 22-inch forged wheels as standard for the Signature Edition of the ES8.
The other two versions of the new ES8 also receive added features, with the Executive Edition receiving additional Nappa interior trim and a refrigerator as standard, and the Regular Edition receiving additional Nappa interior trim as standard.
NIO models no longer come standard with free battery swaps several times a month, and consumers who wish to get this benefit when purchasing the new ES8 will now need to pay an additional RMB 30,000.
($1 = RMB 7.1795)
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ET5 and ES7 add gold exterior option, ET5, ES7 and new ES8 all add front wiper defrost feature.
(Image credit: NIO)
NIO (NYSE: NIO) today began offering more options for three models in an attempt to increase their appeal.
Both the ET5 sedan and ES7 SUV are adding a gold exterior option effective immediately, with the option both priced at RMB 10,000 ($1,400), according to an article posted today by the NIO App.
ET5, ES7 and the new ES8 all have a new front wiper defrost function, all priced at RMB 1,000.
In cold weather, the front wiper defrost feature helps the wipers return to normal operation more quickly to clear snow and maintain clear visibility, the article said.
Vehicles with the optional front wiper defrost feature will receive an OTA update to get the software that works with it.
NIO has also updated the ET5 with optional wheel and tire combinations. The 19-inch five-spoke wheels are standard on the model, while other options are available for a fee ranging from RMB 3,500 to RMB 9,500.
The NIO ET5 was launched on NIO Day 2021 in December 2021, with the first delivery on September 30, 2022.
NIO ES7 was launched on June 15, 2022, with the first delivery on August 28, 2022.
The new ES8 was launched on NIO Day 2022, December 24, 2022, with deliveries to begin later this month.
NIO will report first-quarter earnings later today and hold an analyst call afterward.
The company delivered 31,041 vehicles in the first quarter, slightly above the lower end of its guidance range of 31,000 to 33,000 vehicles.
($1 = RMB 7.1248)
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European intellectual property authorities have ruled that NIO's ES8 and ES6 and Audi's S8 and S6 do not constitute a likelihood of confusion.
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China's industrial regulator has released the latest list of new energy vehicles exempted from vehicle purchase tax, including the NIO ES7, the new ES8 and the new ES6, which has not yet been officially launched.
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NIO said the 2022 ES8, ES6, and EC6 are no longer being custom-built, but a small number of show cars and existing cars are still available for sale.
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