Nio has repositioned the ET5 Touring to expand the model's user base by targeting the larger family market rather than the touring segment.
(Image credit: CnEVPost)
Nio (NYSE: NIO) has rebranded the ET5 Touring to weaken the model's attributes as a wagon variant of the ET5 and to target the larger family market.
China's Ministry of Industry and Information Technology (MIIT) published a list of vehicle information changes on August 14, and the Nio ET5 Touring was included.
Nio filed for the model with a new "ET5T" tail badge option on top of the original "ET5," while all other vehicle information remains unchanged.
Nio launched the ET5 Touring in China on June 15, with deliveries beginning on June 16.
The model was initially launched as a touring variant of the ET5 sedan, with the model logo at the rear of the car still reading "ET5", except that Nio's plates on the show cars reads "Touring" in smaller letters above "ET5".
The ET5 Touring page on Nio's Chinese website now shows the model's name as the Nio ET5T.
The model was launched as the ET5 Touring and is now officially renamed the ET5T, a Nio spokesperson told CnEVPost, adding that customers will be able to choose a different tail logo when buying the model after regulatory filings are complete.
Nio wants the car to be aimed at the larger mainstream family car market, not just the touring segment, the source said.
The ET5T has already sold more than 4,500 units in just one and a half months on the market, far exceeding the combined sales of all touring models under premium brands including Audi, Mercedes-Benz and Volvo for the whole of 2022, according to the source.
Derivatives of sedans are a niche market in China. But the unexpected success of the Zeekr 001, the first model from Geely's Zeekr brand, has made such models increasingly popular. However, the market remains much smaller compared to family cars.
The strategic repositioning of the ET5 Touring seems to indicate that Nio is more aware of reality and wants to emphasize family attributes in order for it to reach a larger user base.
Nio delivered a record 20,462 vehicles in July, with its traditional main seller, the ES6, contributing 11,118 units, or 54.33 percent, data monitored by CnEVPost show.
The ET5 Touring delivered 3,662 units in July, contributing 17.89 percent of Nio's deliveries in July, making it the company's second-highest-selling model in July.
In the first month of the ET5 Touring's launch, the model delivered 1,339 units in June, contributing 12.51 percent of Nio's 10,707 units sold in the month.