NIO has unveiled its official discount package for vehicle purchases. This announcement comes after a recent media report suggested the company was offering discounts of up to CNY 100,000 ($14,900).
The new package includes subsidies for the purchase of NIO’s NT 1.0 platform models, such as the ES8, ES6 and EC6. Customers can also receive additional discounts for stock vehicles and a small cash discount for the purchase of NT 2.0 platform models, including the ES7, ET7, and ET5.
In addition, NIO has recently launched two new models, the EC7 coupe SUV and the ES8, at its NIO Day event held on December 24, 2022. Deliveries for these models will start in May and June 2023.
An executive from NIO cleared up the recent media report and stated that the company’s discount package is designed to provide customers with a range of benefits.
NIO is offering subsidies to customers who purchase their 2022 models, the ES8, ES6, and EC6, this month. The subsidies are equal to the 2022 national purchase subsidy for new energy vehicles (NEVs) in China. The national subsidy, which included a purchase subsidy and a tax exemption, expired at the end of 2022. However, the tax exemption has been extended until 2023.
Individual customers who purchase a NIO model with a 75-kWh battery pack will receive a subsidy of RMB 11,340, while those with a 100-kWh battery pack will receive RMB 12,600. Corporate customers, on the other hand, will receive 70% of the amount available to individual customers, which is RMB 7,938 and RMB 8,820, respectively. This offer is in line with NIO’s program announced on November 2, 2022, which was valid until December 31, 2022.
Consumers can receive a cash discount of RMB 24,000 for the ES8, up to RMB 18,000 for the ES6 and EC6, depending on the age of the stock and condition of the car. Additionally, buyers of the 2022 ES8, ES6, and EC6 models can enjoy a 3-year interest-free loan program with a down payment starting at 15 percent, while buyers of the ET7, ES7, and ET5 can enjoy a 2-year interest-free loan program with the same down payment.
NIO is also offering discounts for consumers who purchase a vehicle in full cash, with a RMB 5,000 discount for the 2022 ES8, ET7, and ES7 and RMB 3,000 for the 2022 ES6, 2022 EC6, and ET5. For trade-in customers, NIO is offering various incentives including the NIO Pilot package, Moon package and orange calipers, and NIO credits.
However, NIO denied claims of price cuts across the model lineup, stating that this is a discount policy only for a small number of show and stock cars and that some incentives were stacked up to form an incorrect discount of RMB 100,000.
