The ET5 and ES7 had the longest wait times at 7-8 weeks and 8-9 weeks, respectively, while the ET5 Touring, ES6, EC6, EC7, and ES8 all had 2-3 weeks.
(Image credit: CnEVPost)
Nio's (NYSE: NIO) seven 2024 models saw shorter wait times, with some of them starting their first deliveries on March 8.
The latest wait time for the 2024 ET5 is 7-8 weeks, shortened from the previous 9-11 weeks, according to information from the Nio App monitored by CnEVPost.
The latest wait time for the 2024 ES7 is 8-9 weeks, shortened from the previous 11-13 weeks.
Five other models, including the ET5 Touring, ES6, EC6, EC7, and ES8, have seen wait times reduced from 2-4 weeks previously to 2-3 weeks.
The wait time for the ET7 is still not shown, and the sedan is the only Nio model yet to receive an update, with its 2024 model set to be released in April.
Nio has eight available models -- ES8, ES7, ES6, EC7, EC6, ET7, ET5, ET5 Touring -- the first five of which are SUVs and the last three sedans. Deliveries of the ET9, unveiled last December, will begin in the first quarter of 2025.
On February 22, the company began accepting customer orders for seven models -- the 2024 ES8, ES7, EC7, ES6, EC6, ET5, and ET5 Touring -- with prices unchanged.
On March 8, deliveries of the 2024 ES8, EC7, ES6, EC6, and ET5 Touring began. Deliveries of the updated ET5 will begin in April and the ES7 in May, according to information previously announced by Nio.
On February 2, the Nio App stopped displaying vehicle waiting times ahead of the Chinese New Year holiday, showing only the text that says customers can enjoy the Chinese New Year purchase privileges.
On February 22, the Nio App resumed displaying wait times for all models except the ET7 after the 2024 models began accepting customer orders.
Nio guided first quarter vehicle deliveries to be in the range of 31,000 to 33,000 units when it announced its Q4 2023 financial results on March 5.
Considering it delivered 10,055 vehicles in January and 8,132 in February, the guidance means it expects to deliver between 12,813 and 14,813 vehicles in March.
Local media outlet Lanjinger reported yesterday that Nio recently started giving away free Nio Phones to customers who buy the 2024 models, but the entitlement is currently available only for March.
At a time of increased competition in the market, the move is seen by some consumers as an important move by Nio to boost sales and drive potential car buyers to place orders, the report noted.
Nio model wait time changes on Mar 13, 2024
| Starting Price (RMB) | Previous | Latest | Change | |
|---|---|---|---|---|
| ET5 | 298,000 | 9-11 weeks | 7-8 weeks | Shorter |
| ET5 Touring | 298,000 | 2-4 weeks | 2-3 weeks | Shorter |
| ES6 | 338,000 | 2-4 weeks | 2-3 weeks | Shorter |
| EC6 | 358,000 | 2-4 weeks | 2-3 weeks | Shorter |
| ET7 | 428,000 | Not Displayed | Not Displayed | No change |
| ES7 | 438,000 | 11-13 weeks | 8-9 weeks | Shorter |
| EC7 | 458,000 | 2-4 weeks | 2-3 weeks | Shorter |
| ES8 | 498,000 | 2-4 weeks | 2-3 weeks | Shorter |
(Screenshots of the Nio App on March 13, 2024.)
