NIO ES8 Q1 deliveries reach 3,989 units, better than expectation

Shanghai (Gasgoo)- NIO has delivered a total of 15,337 ES8s by the end of March 31, the China-based EV startup announced on April 2.

The ES8 sales in the first quarter of the year totaled 3,989 units, plunging around 50% compared with 7,980 units delivered in the previous quarter. Affected by overall market climate and the Chinese New Year Holiday, the respective ES8 deliveries in January, February and March were 1,805 units, 811 units and 1,373 units, NIO said.

The startup also stated that the prediction on ES8 Q1 sales ranged between 3,500 units and 3,800 units and the final result was better than the previously anticipated. 

Chinese authorities on March 26 unveiled a tougher new energy vehicle (NEV) subsidy policy to boost a high-quality development of NEV industry. The new policy not only sets stricter thresholds for NEVs qualified to get subsidy in terms of top speed, energy density and energy consumption, but also features substantial cuts in national government subsidies and cancellation of local governments’ subsidies.

In response to the newest subsidy policy, NIO announced on March 31 that the deposit for customers who will buy ES8 and ES6 cars would be reduced to RMB20,000 from RMB45,000 from April 1, while the earnest money for the aforesaid two models would be decreased from RMB5,000 to RMB2,000 in the meantime.