Three days ago, on October 8, wait times for four of Nio's least expensive models were all reduced to 2-3 weeks.
(Image credit: CnEVPost)
Nio's (NYSE: NIO) two highest-priced models saw wait times reduced, following similar changes for the four lowest-priced models three days ago.
Nio currently sells the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, with the first five being SUVs and the last three being sedans.
Starting prices for these models, including batteries, are: RMB 498,000 ($68,260) for the ES8, RMB 458,000 for the EC7, RMB 438,000 for the ES7, RMB 428,000 for the ET7, RMB 358,000 for the EC6, RMB 338,000 for the ES6, RMB 298,000 for the ET5 Touring, and RMB 298,000 for the ET5.
The latest wait time for the flagship SUV ES8 is 3-4 weeks, about a week shorter than the previous 4-5 weeks, data monitored by CnEVPost show.
Three days ago, on October 8, Nio's four lowest-priced models -- the ET5, ET5 Touring, ES6, and EC6 -- all saw their wait times shortened to 2-3 weeks, when the ES8 was shortened from 5-6 weeks to 4-5 weeks.
Nio's second-highest priced model, the EC7, also saw wait times reduced to 3-4 weeks today, down from 4-5 weeks previously.
Notably, the EC7's wait time changed from 3-4 weeks to 4-5 weeks on October 8 and was the only one to become longer at that time. Today's change means that the model's expected delivery time is back to what it was before.
Wait times for the company's other models remain unchanged today, with the ET5, ET5 Touring, ES6, and EC6 all at 2-3 weeks, and the ET7 and ES7 both at 4-5 weeks.
Nio model wait time changes on October 11, 2023
| Model | Starting Price (RMB) | Previous | Latest | Change |
|---|---|---|---|---|
| ET5 | 298,000 | 2-3 weeks | 2-3 weeks | - |
| ET5 Touring | 298,000 | 2-3 weeks | 2-3 weeks | - |
| ES6 | 338,000 | 2-3 weeks | 2-3 weeks | - |
| EC6 | 358,000 | 2-3 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 | 4-5 weeks | 3-4 weeks | ↓ |
| ES8 | 498,000 | 4-5 weeks | 3-4 weeks | ↓ |
China just celebrated the National Day holiday from September 29 to October 6, and major EV companies all saw significant declines in insurance registrations last week.
Nio vehicles saw 1,300 insurance registrations in China last week, according to data shared by Li Auto (NASDAQ: LI) on Weibo yesterday. The figure was down 70.45 percent from 4,400 units the previous week.
Xpeng (NYSE: XPEV) also saw 1,300 insurance registrations last week, down 71.11 percent from 4,500 the week before.
Li Auto was more resilient, posting 6,900 insurance registrations last week, down 9.21 percent from 7,600 the week before.
($1 = RMB 7.2958)
China EV insurance registrations for week ending Oct 8: Li Auto 6,900, Nio 1,300, Xpeng 1,300
(Screenshots of the Nio App on October 11, 2023.)
