Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
Nio announced on Thursday the introduction of annual interest rate of 0 percent when ordering its most expensive sedan Nio ET7 while the entry-level SUV EL6 can now be leased from €599 per month, including Battery as a Service. Other European markets such as Sweden and the Netherlands are also offering lower interest rates until the end of June.
“Until June 30, 2024, you can finance the NIO EL6 at an attractive rate starting from €599 per month, including BaaS [battery as a service]. And when ordering our premium sedan NIO ET7, you benefit from an effective annual interest rate of 0.00% for orders placed until June 30, 2024,” Nio said in a newsletter to the German market.
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ET7 Discounts
Nio has also in place a referral program where customers can receive 22 thousand Nio points which can be used in the Nio App to, for example, buy products from Nio’s lifestyle brand Nio Life.
“For a confirmed purchase of an ET7 by June 30, 2024, through a referral, you will receive a €1,500 discount as well as 12,000 NIO Points. Users who made the referral will also receive 22,000 NIO Points. This offer is valid only for our existing vehicles and only while stocks last,” Nio’s german website says.
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Last week, the Shanghai-headquartered brand opened the 15th battery swap station in Germany as the European battery swap infrastructure reaches 43 stations. In China, the company has more than 2,410 stations and 3,828 chargers.
In March, Nio registered 48 vehicles in the country, according to official numbers from the German Federal Motor Transport authority (Kraftfahrt-Bundesamt – KBA).
During the first quarter of this year, the Chinese automaker registered 102 units, a decrease of 25 per cent from the 136 units registered during the same period in 2023.
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In the Dutch market, EL6 is also with a lower interest rate starting at 6.99 percent, per Nio’s website for The Netherlands. The company says that customers can access “a lower monthly amount at an interest rate starting from 6.99%” adding that the offer is valid until the end of June.
In Sweden, customers can buy the model with a 3.99 percent interest rate, also until the end of June.
“When you purchase a NIO EL6 with BaaS, we offer loans with only 3.99% interest, providing you with a low monthly cost. The campaign is valid only for Nio’s existing stock cars in combination with BaaS until June 30, 2024, subject to final sales.
Nio’s Email to the German Market
“The NIO EL6 is the latest model to receive the five-star safety rating from Euro NCAP. Like all other NIO models, the all-around SUV also impresses with the top rating for vehicle safety.
Until June 30, 2024, you can finance the NIO EL6 at an attractive rate starting from €599 per month, including BaaS [battery as a service]. And when ordering our premium sedan NIO ET7, you benefit from an effective annual interest rate of 0.00% for orders placed until June 30, 2024.
As a BaaS user, you benefit from quick and uncomplicated battery swaps at our Power Swap Stations. With the opening of the PSS in Aurach, a total of 15 national PSS are currently available”.
Morgan Stanley analyst Tim Hsiao released a new research note on Nio commenting the April delivery results and the upcoming sub brand Onvo. Morgan Stanley has a price target on Nio shares of $10 implying an upside potential of 112 percent as of the release of the note.
“Nio‘s April sales increased 135% year-over-year and 32% month-over-month, to a year to date high of 15,620 units: This was a step closer to its previous peak monthly run-rate of 18-20k units,” the analyst wrote.
Nio shares gained 11.65 percent on Wednesday following the report of strong deliveries in April and a new incentive from the Shanghai government to replace old cars with electric or hybrid ones.
The Shanghai government introduced the “Shanghai Action Plan” until 2027 to incentivise the replacement of old cars with new energy vehicle (NEV) models.
The electric vehicle (EV) manufacturer unveiled the new facelift of its sedan ET7 during the Beijing Auto Show featuring upgraded seats and two second-row screens. The deliveries of the revamped model started yesterday, on the last day of April.
Nio is currently preparing for the brand — and product — launch of its first subbrand Onvo. The event is scheduled for mid-May as confirmed by the co-founder Lihong Qin at the Beijing Auto Show.
Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
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The post Nio Offers Temporary Leasing Discounts, 0% Interest Rate in Germany on Selected Models first appeared on EV.