The number of failures per 100 new NIO vehicles is 49, well below the industry average of 135, the latest ranking shows.
(Image credit: CnEVPost)
Aiming for the premium market, NIO (NYSE: NIO, HKG: 9866) has a reputation for good vehicle quality, and a new ranking is another reminder of that.
The number of failures per 100 new NIO vehicles is 49, the lowest of any car brand in China and well below the industry average of 135, according to a ranking released March 15 by Autohome, China's largest automotive website.
New vehicles in the ranking are those with an age between 2 months and 12 months.
Li Auto (NASDAQ: LI, HKG: 2015) ranked 12th on the list with 102 failures per 100 vehicles.
BYD (OTCMKTS: BYDDY, HKG: 1211) ranks 18th with 113, while Tesla (NASDAQ: TSLA) ranks 18th with 133, just slightly better than the industry average of 135.
XPeng Motors (NYSE: XPEV, HKG: 9868) was 140, worse than the industry average but better than the Chinese brand average of 149.
Among luxury car companies, BMW's number of failures per 100 new vehicles was 103, better than the industry average and ranked 13th among all brands. Mercedes-Benz was 125, and Audi's figure was not available, likely because it was above the industry average.