William Lee, Founder of the NIO Brand, spoke on May 30 at the 4th China Young Entrepreneurship Summit in Nanjing about the brand’s global reach in the global marketplace, calling NIO a premium manufacturer.
According to him, as of the end of April this year, NIO has sold 102,803 cars, the average price of each copy was more than 434 thousand yuan (about 68 thousand US dollars). This figure turned out to be higher than that of such famous brands as BMW, Audi, and more than 100 thousand yuan higher than that of Tesla.
In addition, Lee shared some other interesting data. For example, the average age of NIO consumers is 37.2 years, reflecting the dramatically changed trends in the PRC market. Citizens under the age of forty already simply do not see much difference between Chinese and foreign cars, not counting the latter as more prestigious.
Moreover, he noted that NIO’s strategy to solidify its position in the premium segment has fully justified itself. While most of the Chinese manufacturers are trying to start a competitive battle in the lower segment, severely limiting themselves in technology in order to maintain a minimum price, NIO is trying to use all the latest developments in the field of electric transport. This allows us to successfully and systematically beat off the market from the already classic luxury brands, which cannot quickly and efficiently introduce innovations on their models in China.
Note that in the fourth quarter of last year, NIO sales amounted to 17 thousand copies. During this time, Tesla sold 18 thousand of only one Model X in China. In the first quarter of this year, NIO exceeded the mark of 20 thousand cars sold, which, according to Lee, is already more than BMW and Audi and Tesla’s top models combined. However, it should be noted that the very top Mesla Model X and Model Y, which NIO overtook, were not produced at all in the first quarter and therefore hardly sold.