Four lower-priced models of Nio now see wait times of 2-3 weeks, with the flagship SUV ES8 also shortened from 5-6 weeks to 4-5 weeks.
(Image credit: CnEVPost)
Most of Nio's (NYSE: NIO) models saw a reduction in wait times today, with half of the models now available for delivery in 2-3 weeks.
Nio's current models on sale include the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, the first five of which are SUVs and the last three are sedans.
The latest wait time for the company's flagship SUV, the ES8, is 4-5 weeks, about a week shorter than the previous 5-6 weeks, data monitored by CnEVPost show.
Nio's main seller, the ES6, saw wait time reduced to 2-3 weeks today from 3-4 weeks previously, although the company cautioned that some configurations may have slightly longer waits.
The new EC6 coupe SUV, which was launched on September 15, also saw wait time reduced to 2-3 weeks from 3-4 weeks.
Both the models in its ET5 range -- the regular ET5 as well as the ET5 Touring -- have seen wait times reduced to 2-3 weeks from 4-5 weeks previously.
This means that out of the eight models that Nio currently has on sale, four of them are able to be delivered within about 2-3 weeks of a customer's booking.
These four models are Nio's lowest priced and therefore the mainstay of its sales. The new EC6 was launched on September 15 and deliveries started on the night of the launch.
Nio delivered 19,329 vehicles in August, including 8,601 units of the ES6, 4,083 units of the ET5 Touring, 2,882 units of the regular ET5, and 228 units of the EC6, which was awaiting the release of the new model.
These four models contributed about 82 percent of Nio's deliveries in August. Nio delivered 15,641 vehicles in September, with model-specific breakdowns not yet available.
Nio's pricier EC7 coupe SUV saw a wait time of 4-5 weeks today from 3-4 weeks earlier, the only one to get longer.
The company's other two models -- the ES7 SUV and the flagship sedan ET7 -- saw unchanged wait times today, remaining at 4-5 weeks.
It's not clear if the shorter wait times for Nio's main-selling models are the result of the company's adjustments to its production lines during China's National Day holiday that just passed.
This year's National Day holiday ran from September 29 to October 6, with October 7 and October 8 being workdays, albeit weekends.
Nio's local counterpart Li Auto (NASDAQ: LI) had previously said it would stop production and upgrade its factory at the end of September and during the National Day holiday period, with all production lines upgraded to double-shift production.
Nio model wait time changes on October 8, 2023
| Model | Starting Price (RMB) | Previous | Latest | Change |
|---|---|---|---|---|
| ET5 | 298,000 | 4-5 weeks | 2-3 weeks | ↓ |
| ET5 Touring | 298,000 | 4-5 weeks | 2-3 weeks | ↓ |
| ES6 | 338,000 | 3-4 weeks | 2-3 weeks | ↓ |
| EC6 | 358,000 | 3-4 Weeks | 2-3 weeks | ↓ |
| ET7 | 428,000 | 4-5 weeks | 4-5 weeks | - |
| ES7 | 438,000 | 4-5 weeks | 4-5 weeks | - |
| EC7 | 458,000 | 3-4 weeks | 4-5 weeks | ↑ |
| ES8 | 498,000 | 5-6 weeks | 4-5 weeks | ↓ |
(Screenshots of the Nio App on October 8, 2023.)
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