NIO launches used car trading business
Chinese electric vehicle (EV) maker NIO (NYSE: NIO) today released details of used car trading and officially launched its used car trading business.
NIO said that it has been almost 3 years since the first ES8 Founding Edition was delivered in 2018, and the total number of NIO users has exceeded 75,000, with the longest mileage of users driving nearly 200,000 km, and many users have already had the demand for vehicle replacement.
After more than half a year of brewing, NIO officially launched the used car service, hoping to give the maximum benefit protection to users who sell cars and give users who buy cars like a new experience, the company said.
The move comes after Tesla significantly reduced the price of Model Y in China.
On January 1, Tesla announced that the China-made Model Y went on sale. According to the prices announced on Tesla's website, the Long Range and Performance versions start at RMB 339,900 and RMB 369,900 respectively, a price reduction of approximately RMB 148,100 and RMB 165,100 compared to the previous imported versions.
NIO's SUV models EC6 and ES6 start at RMB 368,000 and RMB 358,000 respectively, and are direct competitors to the Model Y.
NIO said if owners of NIO vehicles need to sell, they can contact NIO or Fellow, and NIO will provide the whole process of vehicle inspection, appraisal and acquisition, as well as give a very competitive and sincere collection price.
If you sell your vehicle back to NIO, you will receive 30,000 NIO points. This benefit is valid from 2021.1.3 to 2021.12.31.
Those who have sold their vehicles back to NIO before will be reimbursed with 30,000 NIO points.
If you want to buy an official NIO used car, you can go to the official used car section of NIO APP to choose.
NIO says that through complete analysis of car data and 286 special tests for new energy models, NIO official used car information is transparent.
Through NIO's official updates and upgrades, including the use of original spare parts for refurbishment, SONAX vehicle refurbishment technology, and software and hardware refresh upgrades, the vehicle is delivered with a near-new car experience.
In addition, NIO says that thanks to the design of NIO vehicles' body and battery separation and the construction of battery swap system, battery safety and health are guaranteed.
Users can also enjoy the following benefits when purchasing an official NIO used car.
You can get 5000 NIO points and 500 NIO value when you pick up the car.
If users invite their friends to buy NIO official used cars, they can get up to 6,000 NIO points and their friends can get up to 6,000 NIO points.
If users repurchase a new NIO car, they will receive 24,000 NIO points and an additional 500 NNIO value when they pick up the car.
Users who have the 60% battery upgrade benefit support the same primary user to transfer the 60% battery upgrade benefit to the newly purchased NIO vehicle until the 60% battery upgrade benefit is used in the permanent upgrade.
The same owner can transfer battery swap benefits to a newly purchased NIO vehicle.
ES8 Founding Edition user status can be renewed or transferred to immediate family members (must be the primary user of the vehicle), and ES8 Founding Edition users will receive a personalized signature design set with a repeat purchase.
Users whose original vehicle is equipped with the NIO Pilot full package will receive a 30% discount on NIO Pilot and future autonomous driving products and services when they repurchase a new vehicle.
Customers whose original cars are equipped with the NIO Pilot Select Package will receive a 60% discount on the purchase of NIO Pilot and future autonomous driving products and services when they repurchase a new car.
These re-purchase benefits are valid from 2021.1.3 to 2021.12.31.
In addition, the primary car user is recognized as the owner of the rights and benefits in the NIO community and enjoys various community rights and benefits.
In order to protect the rights and interests of the primary car user, the identity of the primary car user cannot be changed arbitrarily from the date of vehicle activation, and only supports the change of immediate family members and the change of company vehicle management, and can only be changed once a year.
The following are NIO's Q&A
Q：What is the significance of the used car business to users?
A：Users who sell cars can sell them quickly and at a high price; users who buy cars can buy them with confidence and enjoy using them.
Q：Will NIO's collection price be higher than the third party?
A: We will provide convenient services for the whole process of vehicle inspection, appraisal and acquisition, and offer competitive and sincere repossession prices, so that you can sell your car without worries.
Q: I want to sell my car, what do I need to do and how long does it take?
A：You can contact Fellow or NIO official customer service to make an appointment for inspection, and the appraisal price will be issued within 1 day after the inspection.
You can enter the transaction after you have no objection to the price, and the payment will arrive within a week after the vehicle is transferred. The whole process from the vehicle inspection to the final receipt of the car payment is expected to be completed within 1 week.
Q: Can NIO Official Used Cars accept user consignment?
A：Not at the moment. We will continue to explore various models of used car business to provide convenience for users in the future.
Q：How does NIO inspect the vehicles and how to achieve the transparency of car condition?
A: NIO uses the advantage of complete car data analysis and 286 special tests for new energy models to ensure that the condition information of all NIO official used cars is transparent and traceable.
At the same time, NIO will release total loss car information in real time to avoid users from buying cars with opaque information.
Q: How to maintain the used car battery health?
A：Because of the design of NIO car model vehicle-electricity separation and the construction of NIO battery swap system, we can guarantee the safety and health of the battery in the system.
Q: What is the delivery standard of official used cars?
A: All NIO official used vehicles have undergone NIO refresh and upgrade (original parts preparation + SONAX vehicle refurbishment technology + software and hardware upgrade) to ensure that the vehicles are delivered as new (no scratches on the exterior, refurbished interior, normal function of all hardware, and upgraded with the latest version of the car software).
Q：How is the extended warranty time calculated?
A: NIO official used cars can continue to enjoy the remaining quality assurance service in 3 years or 120,000 km. After the expiration of this warranty, NIO will provide an additional 1 year or 30,000 km of warranty service.
If the vehicle has exceeded the 3 year or 120,000 km warranty period, NIO will provide an additional 1 year or 30,000 km of warranty service from the date of delivery of the vehicle you purchased.
Q: Can I buy a used vehicle marked as BaaS plan with a whole vehicle?
A: We only offer one purchase method per vehicle, you can choose according to your needs, and you can enjoy more battery swap benefits when you purchase a used vehicle with BaaS plan.
Q: Why do users still pay RMB 980 per month for a used car with BaaS plan?
A: Used car users enjoy the same battery rental service as new car users, so the monthly rent is the same.
Q: I bought an ES8 in 2019 and I am the main user of the ES8. 2020 I bought another NIO ES6 and currently my husband is the main user of the ES6, is this situation considered a repurchase?
A: When two cars are bought by immediate family members, although the primary car owner is not under the same name, it can still be counted as a repurchase. You can contact your Fellow and provide proof of your family relationship (Hukou or marriage certificate) and we will issue the reorder points for you.
Q: I disposed of my original NIO ES8 in 2019, and now I want to order the new sedan released by NIO, does this situation count as a repurchase?
A: In principle, if the original NIO vehicle is disposed of for more than 1 year and then you purchase a new NIO vehicle, you cannot enjoy the reorder benefits.
Q: I am a founding ES8 customer and enjoy free lifetime battery swap and 60% discount on battery upgrade. I ordered an EC6 in November 2020, and I can enjoy six free battery swaps per month.
But I usually drive EC6, can I apply my Founding Edition benefits to EC6?
A: Yes. You can choose to swap your Founders Edition benefits with your EC6.
After you choose the swap, you cannot transfer the free lifetime battery swap and the 60% discount on battery upgrade to the Founding Edition ES8, so please consider the swap carefully according to your situation.
Q: I am a Founding Edition ES8 customer and enjoy free lifetime battery swap and 60% off battery upgrade. I ordered an EC6 and an ES6 in November 2020, which are each entitled to six free battery swaps per month. Can I use my Founders' Edition benefits on both the EC6 and ES6?
A: The benefits can only support the swap between two vehicles under the same main user. So you can choose one of the EC6 or ES6 to swap with your Founding Edition user benefits according to your own situation.