The beginning of the year is usually a low point for car sales in China due to seasonal factors. Nio's deliveries in January included 6,307 SUVs and 3,748 sedans.
Nio (NYSE: NIO) saw a dip in deliveries in January compared to December, affected by seasonal factors like most of its local peers.
The company delivered 10,055 vehicles in January, up 18.21 percent from 8,506 a year ago, but down 44.18 percent from 18,012 in December, according to data it released today.
The deliveries included 6,307 SUVs and 3,748 sedans, Nio said, without mentioning delivery figures for specific models.
Nio currently sells the ES8, ES7, ES6, EC7, EC6, ET7, ET5 and ET5 Touring, the first five of which are SUVs and the last three sedans.
The company unveiled its executive flagship sedan, the ET9, at Nio Day 2023 on December 23 and began pre-sales, with deliveries set to begin in the first quarter of 2025.
Cumulative Nio deliveries through January 31 reached 459,649 units.
January, as well as the month in which the Chinese New Year holiday falls, are usually low points for car sales in China, as demand for cars is usually released at the end of the previous year and the population rests during the holiday.
The 2024 Chinese Lunar New Year holiday runs from February 10 to February 17. Last year the holiday was January 21-27, 2023.
Nio announced on January 17 that it was offering discounts on current models, as it looks to begin deliveries of the 2,024 models in March.
The company did not mention the amount of these discounts at the time, though local media outlet Red Star News reported at the time that the discounts ranged from RMB 24,000 ($3,340) to RMB 40,000
The 2024 Nio models will have the cockpit chip upgraded from the Qualcomm Snapdragon 8155 chip to the Snapdragon 8295 chip, Red Star News quoted a salesperson as saying.
The Snapdragon 8155 chip has been the preferred cockpit chip for mainstream premium models for the past several years. In the past few months, newly released models have shifted to the next-generation Snapdragon 8295 chip, such as the Zeekr 007, which went on sale on December 27.
($1 = RMB 7.183)