Nio's average sales price of RMB 413,800 ranked fourth in China, lower than Mercedes-Benz's RMB 481,900, but higher than Lexus' RMB 403,000, and well above the auto industry average transaction price of RMB 179,000.
(Image credit: CnEVPost)
In the first 11 months of the year, the average sales price of Nio vehicles was RMB 413,800 ($65,000), local consultancy Land Roads said in a report released Monday.
In the Chinese market, the average sales price of Nio vehicles ranked fourth, lower than Mercedes-Benz's RMB 481,900, but higher than Lexus' RMB 403,000 and well above the auto industry average transaction price of RMB 179,000, according to the report.
Compared to the same period last year, the average sales price of Nio vehicles increased by RMB 24,000, the report said, adding that this was mainly due to changes in the company's sales mix.
The percentage of Nio ES6 sales fell this year, while the percentage of EC6 grew significantly and more higher-trim models were sold, allowing Nio's average sales price to increase.
However, the report noted that Nio's average sales price is expected to decline in 2022 with the release of Nio's less expensive ET5 sedan.
Nio unveiled the ET 5 at Nio Day 2021 on December 18, with a starting price of RMB 328,000, the company's least expensive model. The ET 5 deliveries are expected to begin in September next year.
Nio is currently targeting the markets where German luxury car companies, including Mercedes-Benz, BMW and Audi, are located.
In the first 11 months, the average price of Mercedes-Benz sales in China reached RMB 481,900, up RMB 55,000 from the same period last year, according to Land Roads.
Mercedes-Benz's sales mix changed little, with the average price increase stemming mainly from the facelift and replacement of its main-selling E-Class and C-Class models, as well as price increases due to supply shortages in the third and fourth quarters, according to the report.
BMW's average price was relatively stable at RMB 402,300 in the first 11 months, up RMB 12,700 from the same period last year, the report showed.
Few of BMW's main sales models have been replaced or revamped this year, with sales of the 3 Series, 5 Series and X3 growing cumulatively more than 10 percent year-on-year in 2021, the report noted.
Audi's low-end vehicle sales base is large, A3 and Q3 sales accounted for about 24 percent, the share of A4L sales also reached nearly 20 percent, thus pulling down the brand's average sales price, according to the report.
The average sales price of Audi so far this year is only RMB 326,800, lower than second-tier luxury brands Lincoln and Volvo, according to the report.
It is also worth noting that among the 15 car brands with the highest average sales price, only the new car makers including Nio, Li Auto, Tesla and Xpeng Motors have seen significant sales growth this year, while other brands have performed moderately or even sold less than the same period last year.
With the rising penetration of high-end new energy vehicle brands including Nio and Tesla, as well as the gradual recovery of production capacity of luxury brands, the competitive landscape is expected to change significantly in 2022, and traditional luxury brands will see greater variability, according to a report by Land Roads.
The report is based on insurance registration and transaction price data for models sold by these car companies.
