Nio Inc, a leading electric vehicle manufacturer, saw a mixed bag of results in January as deliveries dipped from December. Despite this, the company reported a 37.87 percent year-on-year increase in deliveries, delivering a total of 13,863 vehicles last month.
The Nio main brand accounted for 7,951 of these deliveries, marking a 20.92 percent decrease from the same period last year and a significant 61.42 percent drop from December. On the other hand, the Onvo sub-brand delivered 5,912 units in January, a 43.84 percent decrease from the previous month.
In response to the seasonal slowdown typically seen at the beginning of the year, Nio announced a new incentive for customers. Between February 1-28, customers who place a deposit on a Nio-branded model can take advantage of a five-year zero-interest financing program. This move follows in the footsteps of Tesla, who also started offering a similar financing program recently.
Overall, Nio Inc has delivered a total of 685,427 vehicles to date, with the Nio main brand accounting for 658,754 units and Onvo contributing 26,673 units. The company’s performance in January was in line with the wider Chinese auto market, which typically experiences a lull in deliveries during the Chinese New Year holiday.
In comparison to its local peers, Nio’s delivery figures were somewhat subdued. Li Auto delivered 29,927 vehicles in January, while Xpeng delivered 30,350 units and Leapmotor delivered 25,170 vehicles during the same period.
Despite the slight dip in deliveries, Nio remains a key player in the electric vehicle market, with its innovative models and customer-focused incentives setting it apart from the competition. As the year progresses, it will be interesting to see how the company adapts to changing market conditions and continues to drive innovation in the EV space.
