Nio, the Chinese electric vehicle manufacturer, experienced a decline in deliveries last month, with disruptions from the Chinese New Year holiday and potential customers holding off for the 2024 model year refresh likely contributing factors.
The company delivered 8,132 vehicles in February, marking a 33.11% decrease from the previous year and a 19.12% decrease from January, according to data released today.
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These deliveries comprised 4,765 SUVs and 3,367 sedans, though specific figures for individual models were not provided by the company.
Nio’s current lineup includes the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, with the first five being SUVs and the last three sedans.
While Nio unveiled its flagship ET9 sedan at Nio Day 2023 on December 23, 2023, deliveries of this model are not expected to commence until the first quarter of 2025.
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As of February 29, Nio’s cumulative vehicle deliveries have reached 467,781 units.
The Chinese New Year holiday, which took place from February 10-17, 2024, significantly disrupted car deliveries. In comparison, last year’s holiday fell on January 21-27, 2023.
Earlier data released today showed that Nio’s local competitor Li Auto delivered 20,251 vehicles in February, up 21.85% year-on-year but down 35% from January. Xpeng delivered 4,545 vehicles in February, down 24.38% year-on-year and 44.91% from January.
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For Nio, the delay in deliveries may also be attributed to potential customers awaiting updates on existing models.
Nio announced on January 17 that deliveries of the 2024 models would begin in early March, offering discounts for the purchase of 2023 models. Orders for 2024 models were accepted starting February 22, featuring upgraded specifications but maintaining the same prices.
