Deutsche Bank is optimistic about Nio’s potential to surpass 20,000 units in monthly sales with the introduction of the Onvo L60 SUV. The bank anticipates Nio and its sub-brand Onvo to launch a total of six new products in 2025, achieving 300,000 unit sales.
What?
Deutsche Bank’s analysts, led by Wang Bin, forecast that the debut of Nio’s Onvo brand could propel Nio to exceed 20,000 units in monthly sales. The Onvo L60 SUV is set to kick off deliveries in September 2024, targeting a monthly volume of around 10,000 units. The launch of the Onvo sub-brand and the pre-sales of the L60 at a competitive price compared to Tesla’s Model Y are expected to drive Nio’s sales growth.
Why does it matter?
Nio’s recent surge in deliveries, growing by 135 percent year-on-year in April, showcases the brand’s strong momentum in the electric vehicle market. With the addition of the Onvo L60 coupe SUV, Nio aims to boost its total monthly deliveries back above the 20,000-unit threshold. This strategy aligns with Nio’s vision to expand its product lineup and increase its market share in the coming years.
Deutsche Bank also highlights Nio’s plans to introduce four new products under the main brand in 2025, including sedan and SUV models equipped with the latest NT 3.0 technology. Additionally, the Onvo brand is expected to unveil a larger SUV and a mid-size SUV alongside the L60. Nio’s ambitious product roadmap signals its commitment to innovation and diversification, aiming for a substantial increase in sales volume by 2025.
How is it going to shape the future?
The expansion of Nio’s product portfolio through the Onvo sub-brand signifies a strategic move to cater to diverse consumer needs and preferences. By leveraging advanced technologies and targeting specific market segments, Nio aims to solidify its position as a key player in the EV industry. With a clear focus on product quality and market demand, Nio’s innovative approach sets the stage for significant growth potential in the competitive electric vehicle market.
In conclusion, Nio’s collaboration with the Onvo sub-brand and the introduction of the L60 SUV not only enhance its sales prospects but also pave the way for future product developments. As Nio continues to drive innovation and expand its offerings, the company is poised to capitalize on emerging trends and consumer demands, positioning itself for sustained success in the evolving electric vehicle landscape.
Source: https://cnevpost.com/2024/05/16/onvo-l60-likely-help-nio-20000-monthly-sales-db/