Tuesday, July 16, 2024

Nio Achieves 16,074 Deliveries in October with 59.8% Year-on-Year Growth

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Nio announced its delivery figures for October, indicating continued growth in China’s EV market. While the numbers in October were slightly shy of the performance seen by some of its domestic competitors, the company reported positive year-on-year progress.

In October, Nio delivered a total of 16,074 vehicles, reflecting a noteworthy 59.8% increase compared to the same month in the previous year. Additionally, these figures marked a 2.77% rise from the company’s September deliveries, according to data released by Nio.

The breakdown of these deliveries included 11,086 electric SUVs and 4,988 electric sedans, showcasing Nio’s diverse product lineup. Nio currently offers a range of models, including the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, with the first five being SUVs and the last three representing sedan offerings.

Specifically, deliveries of Nio’s SUV models exhibited substantial year-on-year growth, increasing by 85.35% in October compared to the previous year. However, they experienced a modest decrease of 3.63% when compared to September’s figures.

On the other hand, Nio’s sedan models demonstrated a positive trend with a 22.25% increase in October deliveries compared to the previous year and a 20.57% rise from the previous month.

Although Nio did not provide a detailed breakdown of model-specific delivery figures for October, the ES6 is expected to continue as one of the company’s flagship models. In September, Nio delivered a total of 15,641 vehicles, with the ES6 contributing a significant portion, accounting for 50.48% of the deliveries. Notably, the ES6, Nio’s second production vehicle, has been an integral part of the company’s lineup since its launch in December 2018.

Nio’s commitment to offering a broad range of electric vehicles is evident through the introduction of its latest ES6 model, based on the NT 2.0 platform, which began deliveries in May. This model, with a starting price of RMB 338,000 ($46,180) in China, further underscores the company’s efforts to capture a larger share of the growing EV market in China.

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