Onvo, a sub-brand of Nio (NYSE: NIO), recently announced new car purchase perks available in March, including a 5-year, 0-interest financing plan for the Onvo L60 model. This financing plan requires a 30 percent down payment and offers a total value of RMB 18,755. Additionally, customers can enjoy 3 years of free NOA (Navigate on Autopilot) access.
However, it’s important to note that while the March benefits seem appealing, the overall value has actually decreased slightly compared to the perks offered in February. In February, Onvo provided a 0 down payment, 3-year 0-interest financing program worth RMB 14,840, along with other benefits such as free battery swap services and option discounts.
The decision to offer a 5-year, 0-interest financing plan aligns with industry trends, mirroring Tesla’s approach in the past year. Despite the enhanced financing package, Onvo made the decision to remove a BaaS (battery as a service) benefit worth RMB 4,193 that was available in February.
Other benefits, including free NOA usage, battery swap services, and option discounts, remain consistent between February and March. Onvo also recently introduced a flexible battery upgrade service, allowing owners to upgrade their battery packs on a daily, monthly, or annual basis.
In terms of sales, Nio Inc is expected to announce February deliveries soon, with estimates suggesting around 13,000 units, including both the Nio main brand and Onvo. This follows January’s delivery numbers, which totaled 13,863 vehicles.
Overall, Onvo’s March car purchase perks offer a mix of financing benefits and additional services, catering to customers looking for a comprehensive package when purchasing the Onvo L60 model.
