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It seems it was a good month in China for EV sales last month, or at least for “smart EV” startups. Along with Xpeng’s record month, NIO saw a strong rise in sales in September.
NIO had 21,181 deliveries last month, which was a 35.4% increase over September 2023. Extrapolating that out 12 months, we get 254,172 potential annual deliveries. Funny enough, that 21,181 total in September is extremely close to Xpeng’s 21,352 September deliveries, but I’ll come back to the comparisons for another article.
Looking at the 3rd quarter as a whole, NIO had 61,855 sales. That’s an 11.6% increase over the 3rd quarter of 2023. It’s also a new quarterly sales record for NIO. Again, if we extrapolated the total there out to 4 quarters, or one year, the total would be 247,420 sales. As I said with Xpeng, this is getting to significant, genuinely mass-market levels. If NIO can keep this up or even keep growing, it can become an automotive force to be reckoned with. Also, like with Xpeng, the more it can grow its presence and sales abroad, the more it can be seen as joining the global automotive market of major brands. We’ll be keeping an eye on this space.
NIO has just rolled out a new brand as well. The ONVO “family-oriented smart electric vehicle brand” has one model for sale for now, the L60. Unlike the booming Xpeng MONA M03, though, the L60 has just had a trickle of sales following launch — 832 vehicles (versus the NIO brand’s 20,349). Nonetheless, NIO is bullish about this midsize SUV’s future. Also, sales only just got going in recent days. “It embodies ONVO’s philosophy of bringing happiness and value for money to family users. By offering a spacious design, enhanced safety features and advanced technologies, the L60 maximizes user value while optimizing lifecycle ownership costs. Deliveries of the L60 started in late September 2024,” NIO writes. We’ll keep an eye on its progress and how well received the ONVO brand is in coming months.
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