The wait time for the Nio ET5 has been reduced to 10-12 weeks from the previous 12-14 weeks.
(Vehicle information displayed in Nio App on December 22.)
The wait time for the ET5, the lowest-priced model in Nio's (NYSE: NIO) product array, has been further shortened in China, with the last similar change a week ago.
The Nio ET5 now has an expected delivery date of 10-12 weeks after consumers lock in their orders, a reduction of two weeks from the previous 12-14 weeks, information from the Nio App monitored by CnEVPost shows.
Nio currently sells six models in China, including three models based on the NT 1.0 platform -- the ES8, ES6, and EC6 -- and three models based on the NT 2.0 platform -- the ES7, ET7 and ET5.
The wait times for all models remain unchanged except for the ET5. The wait times for the ES7 and ET7 are still both 2-3 weeks.
ES8 and EC6 wait times are still not shown, while ES6 is about 2 weeks, the same as before.
(Vehicle information displayed in Nio App on December 22. From left to right, ES8, ES6, EC6.)
ET5 was launched on Nio Day 2021 last December, with the first delivery on September 30 of this year. The sedan's starting price, including the battery, is RMB 328,000 ($46,970).
On September 16, Nio began showing the wait times for all its models, with the ET5 then at 21-23 weeks, or about 5-6 months.
The Nio App stopped displaying the ET5 wait time on October 21 and resumed that information on December 2, when it showed a 13-15 week wait time.
On December 13, the wait time for Nio ET5 was reduced to 12-14 weeks.
On December 20, the wait time for the Nio ES7 was shortened from 4-6 weeks to 2-3 weeks, and that information remained unchanged at that time for the other models.
Nio will hold Nio Day 2022 on December 24, when it is expected to launch the NT 2.0 platform-based ES8 and the EC7, a new coupe SUV.
In addition to these two new models, Nio announced yesterday that it will officially launch the third-generation battery swap station at the event.
Nio's launch event at Nio Day 2022 will start at 19:00 Beijing time on December 24 and last until 21:30.
Nio provided fourth-quarter delivery guidance of 43,000 to 48,000 units when it reported its third-quarter earnings last month, meaning it would have to deliver at least 18,763 units in December to reach the lower end of the guidance range.
The company saw its 300,000th production vehicle roll off the line on December 12, and its co-founder and president Qin Lihong said at an event that delivery of Nio's 300,000th vehicle is expected to be around January 1.
Considering that Nio's cumulative deliveries reached 273,741 units as of November 30, that means the company's management expects deliveries to reach about 26,000 units in December.
Data earlier this month showed that Nio vehicles had 3,141, 2,982 and 3,464 insurance registrations in the first three weeks of December, respectively.
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