Nio has opened its first offline used car experience store in Hangzhou, the first exclusive used car showroom we've seen in China created by a carmaker.
(Image credit: Nio)
Nio had promised to provide customers with full lifecycle service for their vehicles, and now it seems that this is not only limited to new cars, but also used cars.
On the first anniversary of the company's official used car business, Nio has made a major upgrade to it by opening its first offline official used car experience store.
The store, which officially opened on January 3, is located in the Haiwaihai Auto Mall in Hangzhou, Zhejiang province in eastern China, and is not only Nio's first offline used car experience store, but also the first exclusive used car showroom we've seen in China created by a carmaker.
The Haiwaihai Auto Mall opened in 1999 and currently has a showroom area of 120,000 square meters, making it one of the largest integrated auto markets in eastern China.
"We need to keep thinking, keep investing and keep innovating so that more people, in a more appropriate way, can experience Nio's products and services and make official used cars a reason for more people to like Nio," said Qin Lihong, co-founder and president of the company.
On January 3, 2021, Nio announced the launch of a business called Nio Certified to launch an official used car business.
Nio said at the time that it would invest RMB 3 billion ($470 million) to drive high-quality growth for Nio Certified.
The company stressed at the time that Nio's official used car business does not aim to make money. "Doing well in the used car business is the best protection for existing users," William Li, founder, chairman and CEO of Nio, said a year ago.
The move was seen as necessary at the time to help alleviate potential users' concerns about the residual value of their vehicles, and helped Nio further enhance user loyalty.
Li cited four of the most important features of the business at the time:
The condition of the vehicles was transparent, with complete data including historical maintenance records, and suspect vehicles were not sold to consumers.
Nio performs a very detailed refurbishment and reconditioning of the vehicles before they are delivered. After these technical treatments, used vehicles become like new vehicles.
The safety and health of the battery can be guaranteed.
Used cars will enjoy the same loan rates as new cars.
Over the past year, Nio Certified has become the preferred channel for Nio owners who wish to sell their vehicles, as it offers more transparent and competitive offers.
For consumers looking to purchase a used Nio vehicle, they can view information on available vehicles and communicate with salespeople directly through the Nio App.
With the opening of Nio's first offline used car showroom, potential consumers will have the opportunity to learn more about the business in person, making it easier to make a better buying decision.
(Image credit: Nio)