Deutsche Bank analysts have high expectations for the monthly sales of Nio’s latest offerings, the ET9 sedan and the Firefly model. They anticipate the ET9 to sell around 1,500 units per month, citing the sedan’s elegant design and cutting-edge technologies as key selling points. Similarly, they project Firefly’s monthly sales to also reach 1,500 units.
Nio recently unveiled the ET9 sedan, its new executive flagship model, at the Nio Day 2024 event on December 21. Priced at RMB 788,000 yuan ($108,000) for the standard version with a 100-kWh battery pack, the ET9 is positioned as Nio’s most premium offering to date. Additionally, the company introduced a limited edition of the ET9 with only 999 units available, starting at RMB 818,000.
The limited edition ET9 models quickly sold out, with deliveries set to commence in March 2025. The ET9 will face competition from other all-electric sedans like the Mercedes-Benz EQS, BMW i7, Tesla Model S, and Porsche Taycan, as well as traditional internal combustion engine sedans such as the Mercedes-Benz S-Class, BMW 7 Series, Audi A8, and Porsche Panamera.
Despite the high price tag of the ET9, Nio’s founder and CEO, William Li, expressed modest sales expectations, stating that selling 1,000 units per month would be considered a success. Prior to the ET9’s launch, Nio’s top-selling model was the ES8 SUV, which accounted for a significant portion of the company’s deliveries in the first eleven months of the year.
In addition to the ET9, Nio also introduced the Firefly brand and its first model at Nio Day 2024. Priced at RMB 148,800, the Firefly model is Nio’s most affordable offering and is positioned to compete with compact cars like the BMW Mini and the Smart. Deutsche Bank analysts, however, have a more conservative sales outlook for Firefly, estimating monthly sales to be around 1,500 units.
The unique exterior design of the Firefly model has sparked debate on Chinese social media platforms, with opinions divided among consumers. Despite Nio’s optimistic sales projections for Firefly, analysts believe that the model’s unconventional design may impact its market performance.
Overall, Nio’s latest offerings have generated significant interest and anticipation among consumers and industry experts alike. With innovative design, advanced technology, and a diverse product lineup, Nio continues to establish itself as a leading player in the electric vehicle market.
