Nio is offering longer NOP+ free access to new car buyers and better benefits for those opting for the BaaS program.
Nio Inc (NYSE: NIO) ramped up promotions this month as it strives to boost sales to meet fourth-quarter delivery guidance.
The Chinese electric vehicle (EV) maker is offering significantly more promotional benefits this month than it did in November, including longer access to its assisted-driving software and better BaaS (battery as a service) perks.
Chinese customers who pay a deposit for a Nio vehicle in December can continue to enjoy the same option fund of up to RMB 20,000 ($2,760) as they did in November, while NOP+ (Navigate on Pilot Plus) free usage rights have been increased to five years from the previous three years, according to a post on the Nio App.
For customers who had purchased a Nio vehicle before December 1, 2024, the NOP+ free usage rights will also be extended to five years. This extension is available only for the first owners and exclude second-hand car buyers.
For consumers who choose to buy a new Nio car under the BaaS (battery as a service) model, they will be able to get one bill waiver after every three BaaS bill payments, up to a maximum of 15 waivers.
By comparison, consumers who previously purchased a new Nio vehicle could only receive one waiver after every four BaaS bill payments, up to a maximum of 12 waivers.
Customers who purchase a new Nio vehicle through a trade-in of their old vehicle will receive a voucher for 20 free experiences of Nio's battery swap service, in line with the November promotion.
For customers who originally owned a Nio vehicle, if they purchase a new Nio vehicle in December, they will receive additional benefits in addition to the regular credit points offer:
Customers who repurchase ET5, ET5 Touring, ES6 or EC6 will receive an additional RMB 5,000 discount.
Customers who repurchase ET7, ES7, EC7 or ES8 will receive an additional RMB 10,000 discount.
For repurchasers who paid a deposit from October 1 to November 30, 2024 and have already received delivery, they can be compensated with points of corresponding value.
In addition, customers who purchase an ET7 Executive Edition in December will be able to choose a Nappa interior worth RMB 10,500 at half the price.
| Comparison of Nio promotions in November and December 2024 | |
|---|---|
| Dec 2024 | Nov 2024 |
| Option Fund: up to RMB 20,000. | Option Fund: up to RMB 20,000. |
| 5 years NOP+ free usage rights. | 3 years NOP+ free usage rights. 1 additional year of NOP+ free usage rights when replacing old car through official Nio channels. |
| 1 bill waiver after every 3 BaaS bill payments, up to 15 waivers. | 1 bill waiver after every 4 BaaS bill payments, up to 12 waivers. |
| For trade-in, 20 free battery swap service experience coupons. | For trade-in, 20 free battery swap service experience coupons. |
| 50% off Nappa interior for ET7 Executive Edition. | Up to RMB 2,979 worth of discount coupon for heat shielding film. |
| Repeat buyer discount: RMB 5,000 for ET5/ET5T/ES6/EC6. RMB 10,000 for ET7/ES7/EC7/ES8. | |
The company said in its third-quarter earnings call that the Nio brand reduced its per-vehicle promotion by RMB 15,000 in October, which largely carried over into November.
Figures released by Nio earlier today showed it delivered 20,575 vehicles in November, up 28.92 percent from 15,959 a year ago, but down 1.91 percent from 20,976 in October.
This is the second consecutive month-on-month decrease in Nio Inc deliveries, albeit the seventh consecutive month above the 20,000 mark.
The Nio main brand delivered 15,493 vehicles in November, down 2.92 percent from 15,959 a year ago and down 6.99 percent from 16,657 in October.
The Onvo sub-brand delivered 5,082 vehicles, up 17.67 percent from 4,319 in October.
Nio guided fourth-quarter vehicle deliveries to be in the range of 72,000 to 75,000 vehicles, representing year-on-year growth of about 43.9 percent to 49.9 percent, in its third-quarter earnings report released on November 20.
The guidance means Nio is expected to deliver a total of 51,024 to 54,024 vehicles in November and December, with full-year deliveries expected to be in the range of 221,000 to 224,000 vehicles.
The November delivery figure means Nio will need to deliver at least 30,449 vehicles in December to meet its fourth-quarter delivery guidance.
($1 = RMB 7.2429)
Nio posts fewer deliveries as main brand slips while Onvo grows slowly
Related posts on CnEVPost
