Nio’s sub-brand Onvo has recently come under scrutiny due to discrepancies in the pricing of its L60 electric SUV on various online platforms in China. Concerns were raised when several Weibo bloggers pointed out unusually low prices for short-mileage Onvo L60s, prompting questions about the accuracy of the listings.
Upon investigation, it was revealed that some used car sellers had mislabeled vehicles purchased through Nio’s BaaS (Battery as a Service) model as the original full price, leading to confusion among potential buyers. The spokesperson for Nio clarified that the BaaS model allows customers to purchase the body of the car and rent the battery, resulting in a lower starting price of RMB 149,900 for the Onvo L60.
In addition to the discounted BaaS pricing, the L60 also qualifies for various subsidies, including a national trade-in subsidy of RMB 15,000 to RMB 20,000, pre-order discounts, and display model reductions. These subsidies bring down the post-subsidy pricing of the L60 to around RMB 120,000 in some regions, dispelling claims of undercutting in the secondary market.
Despite the official pricing and subsidies offered by Nio, some third-party sellers on online platforms have been listing quasi new Onvo L60s at significantly lower prices. These sellers act as intermediaries to pass on the trade-in subsidies or old car scrapping subsidies to customers, resulting in the lower prices seen on these platforms.
Similar situations have been reported in the past with other automakers like Li Auto and Tesla, where sellers offer unrealistically low prices to attract customers to their stores. However, these low prices may not always be available or accurate, leading to confusion among buyers.
To ensure transparency and access to subsidies, warranties, and customer protections, Nio encourages customers to purchase Onvo cars through its official app rather than third-party sellers on online platforms. By doing so, customers can be assured of receiving the full benefits and discounts offered by Nio.
In conclusion, the pricing discrepancies for Onvo L60s highlight the importance of understanding the BaaS model and official pricing structures when purchasing electric vehicles. By buying directly from the manufacturer, customers can avoid potential misunderstandings and ensure a seamless buying experience with all available benefits.
