The off-season was not low. On August 3, NIO announced the delivery data for July 2020: 3533 units, a year-on-year increase of 322.1%, more than 4 times the number of deliveries in the same period last year, it is the second-highest single-month delivery result in history after June this year.
NIO ES8 delivered 923 units this month, an increase of 462.8% year-on-year. Since the start of delivery in June 2018, a total of 23,861 units have been delivered. NIO ES6 delivered 2,610 units this month, an increase of 287.8% year-on-year and a month-on-month increase of 5.4%, 25,754 units have been delivered since the start of delivery in June 2019. NIO has delivered a total of 49,615 units and completed the mass production of its 50,000th vehicle on July 18.
Li Bin, the founder, chairman, and CEO of NIO said in the delivery announcement: “The number of new orders in July hit a record high, it has a strong demand for ES8, ES6, and EC6 in the market, thanks again for customers continued support to NIO. We will complete the capacity increase in the third quarter to achieve higher delivery results.”
Although July is the traditional off-season of the Chinese auto market, NIO still achieved very good delivery results. On July 24, NIO’s smart electric coupe SUV EC6 was officially launched at the Chengdu Auto Show, the price before the subsidy was 368,000-526,000 yuan. The first batch of vehicles will be delivered in late September. With the continuous increase in deliveries and the user growth that will be brought about by the launch of new cars, NIO previously reported a gross profit of more than 5% in the second quarter of 2020 from the first-quarter financial report, the expected double-digit gross profit of the complete vehicle by the end of the year will also be realized as scheduled. In addition, at the Chengdu Auto Show site, NIO also announced that the battery rental service BaaS project will be officially launched. It is expected that this business model innovation based on the separation of vehicle and electricity architecture will become NIO’s new business growth point. With the continuous growth of market demand, NIO will continue to increase its production capacity. It is expected that the production capacity of Hefei Advanced Manufacturing Base will increase to 4500-5000 units per month by the end of September, making sufficient preparations for the continued increase in subsequent deliveries.
It is reported that as of today, NIO has opened 136 stores across the country, including 22 NIO Centers and 114 NIO Spaces, and its sales network has covered 87 cities across the country. At the same time, NIO continues to deploy power swapping stations (141 stations has been built up), covering 64 cities.