Consumers who order the ET5 now can expect to have it delivered around the beginning of March next year.
(From left to right: EC7, EC6, ET7, ET5. Screenshot on December 29.)
The wait time for the ET5, the least expensive model in Nio's (NYSE: NIO) product array, has been further reduced, information from the company's mobile app shows.
Consumers who lock in their ET5 orders now are expected to get deliveries in 9-11 weeks, down from 10-12 weeks previously.
This means that consumers who order the ET5 now can expect delivery around the beginning of March next year.
Except for the ET5, the wait times for all other Nio models remain unchanged.
(From left to right: All-new ES8, old ES8, ES7, ES6. Screenshot on December 29.)
Nio launched two new models -- the all-new ES8 as well as the EC7 coupe SUV -- at Nio Day 2022 on December 24, with deliveries set to begin in June and May 2023, respectively.
After the launch of the two new models, all previous models remain on sale, including the old ES8, ES6, EC6, ES7, ET7 and ET5.
The Nio App still does not show wait times for the old ES8 and EC6, and wait times remain at 2-3 weeks for both the ES7 and ET7, and about 2 weeks for the ES6.
The last change in wait times for Nio models was on December 22, when the information was shortened from 12-14 weeks to 10-12 weeks for the ET5, and remained unchanged for other models.
The company lowered its guidance for fourth-quarter deliveries earlier this week, citing the challenges posed by the Covid outbreak.
Nio now expects to deliver 38,500 to 39,500 vehicles in the fourth quarter, down 4,500-8,500 units from previously issued guidance of 43,000 to 48,000, according to a December 27 statement.
Considering that Nio delivered 10,059 and 14,178 units in October and November, respectively, the latest guidance means it expects December deliveries to be 14,263-15,263 units, still a record high.
In December, Nio has been facing delivery and production challenges, coupled with certain supply chain constraints caused by an outbreak of Omicron coronavirus variants in major Chinese cities, the statement said.
Insurance registrations for Nio vehicles in the fourth week of December were 2,690. The figures were 3,141, 2,982 and 3,464 in the first three weeks of December, respectively.
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