Nio showcased strong delivery growth last month, emerging as the top performer among the trio of Chinese EV manufacturers listed in the US.
In April, Nio delivered 15,620 vehicles, marking a 31.64 percent increase from March and an impressive 134.60 percent surge year-on-year, according to the latest data released by the company.
The deliveries comprised 8,817 SUVs and 6,803 sedans, highlighting Nio’s diverse product lineup. The company currently offers eight models, including the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, with the first five being SUVs and the last three sedans. Deliveries of the ET9 sedan, unveiled in December last year, are scheduled to commence in the first quarter of 2025.
Nio’s cumulative deliveries since its inception reached 495,267 vehicles by the end of April, edging close to the significant 500,000-unit milestone.
Nio’s performance in April outshone that of Li Auto and Xpeng on a month-on-month basis, a reversal from previous trends where Nio often lagged behind the latter two in terms of growth.
On March 14, Nio introduced adjustments to its BaaS battery rental service, reducing the monthly fee and addressing a major barrier that had previously deterred potential customers from opting for the service.
Nio offers two purchasing options for its vehicles: customers can either buy the entire vehicle, including the battery pack, or opt for the BaaS program where they purchase only the vehicle body and rent the battery. Under the BaaS program, customers can lower the purchase threshold by at least RMB 70,000 ($9,700).
Nio’s decision to lower the BaaS monthly fee, coupled with the opportunity for customers to recoup a significant portion of their previous payments when they choose to buy out the battery in the future, has significantly enhanced the service’s appeal. Previously, customers were unable to recover any of the fees paid when buying out their batteries.
