NIO, a Chinese EV manufacturer, delivered over 20,000 vehicles in July, setting a new monthly sales record. The new NIO ES6 Electric SUV, which shattered NIO’s monthly sales record for a single model, was the driving force behind the company’s success.
NIO ES6 Electric SUV hits a monthly sales record
In May, NIO introduced the second-generation NIO ES6. Despite its small size, NIO’s new electric SUV is producing impressive results.
In a press release issued on Tuesday, the EV manufacturer stated that it delivered a record 20,462 vehicles in July, up 103.6% year on year and 91.1% from June. NIO attributed its achievement to the new NIO ES6, which achieved a new monthly delivery record of over 10,000 units.
NIO delivered 75,023 electric vehicles in the first seven months of the year, bringing its total to 364,579.
The new ES6 Electric SUV is widely regarded as NIO’s most important model to date. Since delivery began in late 2019, the ES6 has become NIO’s best-selling model as a less expensive alternative to the ES8.
Despite the fact that NIO was China’s only major EV manufacturer to witness monthly sales fall in May, the ES6 is already generating interest.
According to a research report from Chinese consumer behavior research agency CarFans, NIO got approximately 30,000 pre-orders in three days after releasing the ES6, setting a new YTD order intake record.
The new ES6 is built on NIO’s NT 2.0 EV platform and features advanced ADAS driven by the NIO Adam supercomputer, which is comprised of four Nvidia DRIVE Orin system-on-chips (SoCs).
Overall traffic at NIO’s flagship locations increased by 30% to 40% month over month, with momentum continuing into early June.
The new ET5 is NIO’s most affordable electric SUV, with prices starting at RMB 368,000 ($51,600) for the 75 kWh model. The price of the 100 kWh battery is RMB 426,000 ($59,300), while the battery as a service (BaaS) option is RMB 298,000 ($41,500).
The ES6 wasn’t the only reason NIO set a new delivery record in July. In early June, the EV manufacturer likewise reduced pricing on all models by 30,000 RMB ($4,200), following market leaders such as BYD and Tesla.
In June, NIO introduced its first electric station wagon, the ET5 Touring, designed for the European market. On its native field, the ET5 Touring is expected to fight with BMW and Porsche.
ET5 deliveries began in mid-June in China and will begin in Europe by the end of the year as NIO develops its brand internationally.