Nio has repositioned the ET5 Touring to expand the model's user base by targeting the larger family market rather than the touring segment.
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The ES6's contribution to Nio deliveries has continued to improve over the past three months, reaching 54.33 percent in July.
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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.
($1 = RMB 7.2218)
Data table: Latest wait times for Nio models after Jul 5 changes
(Screenshots on July 5, 2023)
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The ET5 Touring vehicles currently being delivered by NIO are produced in advance, and consumers who customize the model will have to wait about 3-4 weeks.
(Image credit: NIO)
NIO (NYSE: NIO) today began delivery of the ET5 Touring, which was officially launched in China and Europe yesterday.
The first owners from several cities across China took delivery of the ET5 Touring on June 16, NIO said in an article posted on its mobile app.
NIO did not announce the number of ET5 Touring deliveries today, though it shared images showing deliveries in cities including Xiamen, Suzhou, Chengdu and Guangzhou.
NIO officially launched the ET5 Touring yesterday, and its pricing is identical to that of the regular ET5.
Including the battery, the version with the 75-kWh battery pack starts at RMB 298,000 ($41,860) and the 100-kWh version at RMB 356,000.
Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.
It is worth noting that the ET5 Touring vehicles delivered today are not customized, but were produced by NIO in advance based on designer-recommended configurations to enable quick first delivery.
Consumers who currently customize the ET5 Touring are expected to receive delivery in about 3-4 weeks after locking in their orders, as shown by the information on the configurator for the model in the NIO App.
This is the same approach NIO took when it launched the new ES6 on May 24, when it began deliveries of the SUV the night of the launch.
The pricing of the ET5 Touring was a surprise, as it was previously widely seen to be priced RMB 10,000 to 20,000 higher than the regular ET5.
"Pricing of ET5 Touring is more competitive than we thought -- on par with the incumbent ET5 sedan at Rmb 298k+," Morgan Stanley analyst Tim Hsiao's team said in a research note sent to investors yesterday.
With NIO's broad price cut and the rapid rollout of the new NT 2.0 model, its sales can rebound considerably in the second half of the year, paving the way for 20,000 units per month, Deutsche Bank's Edison Yu's team said in a research note sent to investors today.
Here are more images of the first ET5 Touring deliveries shared by NIO on its mobile app.
(1 $= RMB 7.1193)
NIO ET5 Touring pricing 'a pleasant surprise,' says Morgan Stanley
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While touring cars might be relatively niche compared to sedans, some comparable offerings in the market can still deliver monthly sales of about 10,000 units on a consistent basis, Tim Hsiao's team said.
(Image credit: CnEVPost)
NIO (NYSE: NIO) officially launched the ET5 Touring yesterday, and its pricing looks competitive to analysts.
"Pricing of ET5 Touring is more competitive than we thought -- on par with the incumbent ET5 sedan at Rmb 298k+," Morgan Stanley analyst Tim Hsiao's team said in a research note sent to investors yesterday.
While the segment could be relatively niche, NIO management believes the ET5 Touring is likely to outsell its sedan version, the team noted.
In China, the available versions and pricing of the ET5 Touring are identical to those of the regular ET5 sedan.
Including the battery, the 75-kWh version starts at RMB 298,000 ($41,890) and the 100-kWh version at RMB 356,000.
Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.
Compared to the regular ET5, the ET5 Touring has more rear-seat headroom, and more vertical space in the trunk, while it also has a lower driving position, and the option for electrochromic sunroofs, Hsiao's team noted.
"Such retrofits will help increase the TAM of the ET5 family by attracting users who attach greater value to the in-car space," the team said.
It's worth noting that in China, derivatives of sedans are a niche market.
However, the unexpected success of the Zeekr 001, the first model of Geely's Zeekr brand, has made such models increasingly popular.
For the full year 2022, Zeekr delivered 71,941 Zeekr 001s, reaching its goal of delivering 70,000 vehicles for the year.
While touring cars might be relatively niche compared to sedans, some comparable products in the market still manage to deliver monthly sales of about 10,000 units on a consistent basis, according to Hsiao's team.
In China, the competitive landscape in the touring market is relatively benign, with the main comparables coming mainly from foreign brands such as the Audi S4, Mercedes-Benz CLA and Volvo V60, according to the team.
Whether NIO can successfully ramp up sales of the ET5 Touring in the coming months to meet its goal of reaching 20,000 units per month in the second half of the year remains to be seen, the team said, adding that the company's management expects the ET5 family to contribute about 30 percent of sales.
The ET5 sedan, ET5 Touring and the new ES6 will dominate NIO's sales, Hsiao's team said.
NIO launched the new ES6, the most important model in its history, in China on May 24, with deliveries starting on launch night.
As with the new ES6, NIO produced some ET5 Touring vehicles in advance based on a combination of designer-recommended configurations, and its deliveries officially began today.
($1 = RMB 7.1136)
NIO launches ET5 Touring in China with same pricing as regular ET5
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NIO has produced some ET5 Touring vehicles based on designer-recommended configurations, and deliveries of these non-customized vehicles will officially begin on June 16.
(Image credit: CnEVPost)
NIO (NYSE: NIO) launched the ET5 Touring, a derivative of the ET5 sedan, in China yesterday, and consumers who want to order a customized vehicle will have to wait about a month to get delivery.
Consumers who currently customize the ET5 Touring are expected to get delivery about 3-4 weeks after locking in their orders, information on the configurator for the model in the NIO App shows.
Pricing for the ET5 Touring in China is identical to that of the regular ET5, starting at RMB 298,000 ($41,760) for the version with the 75-kWh battery pack and RMB 356,000 for the 100-kWh version, including the battery.
Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.
NIO began allowing consumers to lock in their orders for the ET5 Touring after the model's launch, and the company has already produced some ET5 Touring vehicles based on designer-recommended configuration combinations, with deliveries set to begin on June 16.
The wait information for other NIO models is unchanged today from what was shown previously.
The expected delivery time for the new ES8, which was launched at NIO Day 2022 on December 24 last year, remains June.
The wait time for the ES7 remains about 3 weeks. The model was launched on June 15, 2022, with first delivery on August 28, 2022.
The wait time for the new ES6 is still about 5 weeks, the model was launched on May 24 and deliveries started that night.
The wait time for the EC7 is about 4 weeks, the model was launched on NIO Day 2022 on December 24, 2022, and the first delivery was on April 28 this year.
The wait time for the ET7 is about 3 weeks. NIO launched the 2023 ET7 on the first day of the Shanghai auto show on April 18, with deliveries starting on May 19.
The wait time for the regular ET5 is about 3 weeks. The model was launched on NIO Day 2021 in December 2021, and the first delivery was on September 30, 2022.
($1 = RMB 7.1356)
NIO launches ET5 Touring in China with same pricing as regular ET5
(Screenshots on June 16.)
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The ET5 Touring and EL6 are priced higher in Europe than in China due to factors including transportation costs, local taxes and operating costs.
(Image credit: NIO)
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 | 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.
| 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.
($1 = RMB 7.1264, $1 = EUR 0.9136)
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Pricing for the ET5 Touring is identical to the regular ET5, with a starting price in China of RMB 298,000 including the battery, and deliveries will begin on June 16.
(Image credit: CnEVPost)
NIO (NYSE: NIO) has officially launched its highly anticipated new model, the ET5 Touring, and its price in China is a surprise.
The company launched the model today in an online launch event for consumers in China, Germany, Denmark, the Netherlands, Norway and Sweden. Deliveries in China will officially begin tomorrow, while delivery dates in Europe have not yet been announced.
The ET5 Touring launch was different from all previous NIO model launches in that it was the first product launch led by the European team and appears to be the shortest new model launch in its history.
NIO gave a brief overview of the ET5 Touring's exterior, interior and driving experience at this roughly 40-minute launch event, but didn't explain much more about its technical specifications.
This is understandable, after all, NIO's models come standard with dual motors and the same smart driving hardware, and it seems redundant to introduce them again.
Pricing for the ET5 Touring is identical to the regular ET5, starting at RMB 298,000 ($41,620) in China, including the battery.
This is surprising, as the model was previously generally seen as being RMB 10,000 to 20,000 more expensive than the regular ET5.
On June 12, NIO lowered the starting prices for all models by RMB 30,000 and made the battery swap service, which was previously free several times a month, a paid option.
The ET5 Touring is the first model released after NIO implemented the new pricing system, and the entry version comes with a 75-kWh battery pack. Its long-range version comes with a 100-kWh battery pack and starts at RMB 356,000 with the battery included.
Chinese consumers who choose to purchase the model using the BaaS (battery as a service) service will see the prices start at RMB 228,000 for both versions, with monthly battery rental costs of RMB 980 and RMB 1,680 respectively.
| Version | Starting Price with Battery | Starting Price under BaaS | BaaS Monthly Battery Rental |
|---|---|---|---|
| 75-kWh | ¥298,000 | ¥228,000 | ¥980 |
| 100-kWh | ¥356,000 | ¥228,000 | ¥1,680 |
NIO's advanced driver assistance systems NOP (Navigate on Pilot) Plus and NAD (NIO Autonomous Driving) are both subscription-based, priced at RMB 380 and RMB 680 per month respectively.
NIO began allowing consumers to lock in their orders for the ET5 Touring after the launch, and show cars and vehicles for test drives are already available at NIO's showrooms in China.
Chinese consumers who order the model now will receive 1 year of free use of NOP+ worth RMB 4,560.
Consumers who order the ET5 Touring on and before July 31 will receive a discount on options worth RMB 5,000.
NIO has started production of the ET5 Touring based on the designer's recommended configuration combinations, and its delivery will officially begin on June 16.
On June 11, CnEVPost experienced the ET5 Touring at a NIO House in Shanghai Pudong New Area, and found that it improved the most criticized areas on the regular ET5, except for the larger trunk space.
For the regular ET5, many owners complained about the high seating position in the driver's seat, which may have been a deterrent for some potential consumers to choose the model.
CnEVPost experienced the ET5 Touring and the regular ET5 at the NIO House and found that the driver's seat of the former can be adjusted significantly lower.
NIO currently offers the following benefits to the first owner of the ET5 Touring:
6-year or 150,000 km vehicle warranty. 10-year unlimited mileage warranty for battery, motor and electric control systems;
6 years free internet connectivity with 8GB of monthly traffic;
Lifetime free roadside assistance.
Consumers who order the model before July 31 can pay RMB 30,000 to receive the upgraded benefits package, which includes:
Free lifetime battery swap service, 4 times per month;
10-year unlimited mileage vehicle warranty
Free lifetime internet connectivity with 8GB of traffic per month;
Lifetime free roadside assistance.
In China, the NIO ET5 Touring's main competitor will be Zeekr's Zeekr 001, which is currently offered in four versions with starting prices of RMB 300,000, RMB 300,000, RMB 349,000 and RMB 386,000 respectively.
Zeekr delivered 8,678 vehicles in May, including the Zeekr 001 and the Zeekr 009 MPV. It did not release a breakdown of deliveries.
On June 12, Zeekr began deliveries of its third model, the Zeekr X, which starts at RMB 189,800.
($1 = RMB 7.1606)
Store visit: First impression of NIO ET5 Touring before official launch
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The Nio ET5 Touring is a cool station wagon with 490 hp, 680 km of CLTC range and a starting price of 31,850 USD. Its deliveries will start tomorrow in China.
The post Nio ET5 Touring station wagon launched in China for 31,850 USD. To hit the Europe soon. appeared first on CarNewsChina.com.
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NIO (NYSE: NIO) will officially launch the ET5 Touring today, with its launch event starting at 19:00 Beijing time, and CnEVPost will be updating the event's main content in real-time in this post.
Here is what is already known:
NIO starts accepting consumer reservations for the ET5 Touring in China on June 10, and its first deliveries will start tomorrow June 16.
NIO will hold the European launch of the model on June 16 at 1:00 am Beijing time (June 15 at 1:00 pm US Eastern time).
The ET5 Touring measures 4,790 mm in length, 1,960 mm in width and 1,499 mm in height, and has a wheelbase of 2,888 mm, in line with the regular ET5 sedan, a previous regulatory filing show.
It is equipped with dual motors with a maximum power of 150 kW and 210 kW, respectively, and can support a top speed of 200 km/h.
Its battery suppliers include CALB, in addition to CATL.
Below are the main contents of the NIO ET5 Touring launch event, with the latest at the top.
Including the battery, the starting price of the NIO ET5 Touring in China is RMB 298,000 ($41,620), which is the same as the starting price of the regular ET5.
NIO ET5 Touring will be available in China, Germany, Denmark, Netherlands, Norway and Sweden.
The NIO China team began participating in the launch.
The ET5 Touring with a 100-kWh long-range battery pack has a WLTP range of up to 560 km.
The ET5 Touring is available in 10 exterior colors.
The ET5 Touring launch event began with the NIO Europe team introducing the model at the NIO House in Frankfurt.
This is the first time that NIO starts the launch of a new model with an international team presentation.
Store visit: First impression of NIO ET5 Touring before official launch
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