Nio brand's July average transaction price hits $64,010 as ES8, ES9 anchor premium push
CnEVPost • • business
Key Points:
- Nio's main brand delivered 20,008 vehicles in July, generating approximately 8.7 billion yuan in revenue with an average transaction price of 434,600 yuan, reflecting strong pricing power in China's premium market.
- The ES8 SUV led sales with 10,286 units delivered, accounting for 51.41% of the main brand's deliveries, boosted by the launch of a more affordable five-seat version.
- The ES9 flagship model also performed well, achieving over 10,000 deliveries within about 30 days, marking the fastest delivery pace for an all-electric vehicle priced above 500,000 yuan in China.
- Despite rising raw material costs increasing the ES8's production cost by nearly 20,000 yuan per vehicle, Nio is collaborating with suppliers to hedge costs and maintain stable pricing.
- Overall, Nio Inc delivered 35,934 vehicles in July, up 70.98% year-on-year, with strong growth across its Onvo and Firefly brands, and has delivered 227,057 vehicles in the first seven months of 2023.
