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NIO ET7 deliveries in Europe began last October, and EL7 deliveries there began at the end of January. | NIO US | NIO HK | NIO SG
(Image credit: NIO App)
NIO (NYSE: NIO) began ET5 deliveries in Europe on March 31, the day before it opened its second NIO House in Germany.
The company saw the first deliveries of the electric sedan in Germany, Sweden and the Netherlands, according to the information posted on the Chinese and European versions of the NIO App.
NIO co-founder and president Qin Lihong was in Germany to witness the first ET5 deliveries there.
No information has been released about ET5 delivery figures in Europe. The company is expected to announce its deliveries of all vehicles in March later today.
NIO launched the ET7, ET5 and the EL7, known in China as the ES7, in Europe last October. ET7 deliveries began in Europe last October, and EL7 deliveries began at the end of January.
NIO initially only allowed European consumers to lease vehicles through NIO Subscription, with purchase options available starting in late November.
These products are made available for order gradually in Norway, Germany, the Netherlands, Denmark and Sweden through the NIO Subscription, lease program and direct sales to customers, NIO said on November 1 last year while announcing delivery figures for October.
The announced delivery volume represents vehicle deliveries through direct sales to users as well as to the leasing program partner in Europe in accordance with the revenue recognition policy of the company's vehicle sales, NIO said at the time.
The vehicles under NIO Subscription in Europe are recognized as assets on the company's balance sheet, but are not counted in the announced deliveries, according to the company.
The day before deliveries of ET5s began in Europe, NIO opened a new NIO House in Frankfurt, its second in Germany.
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Li Auto delivered 20,823 vehicles in March, the second time after last December that it exceeded 20,000, figures released today show.
This represents a 25 percent increase over February's 16,620 vehicles and an 88.72 percent increase over the 11,034 vehicles delivered in the same month last year.
The deliveries are the second highest for a single month since Li Auto's inception, after the previous record high of 21,233 vehicles in December last year.
Li Auto delivered 52,584 vehicles in the first quarter, up 65.8 percent year-over-year and up 13.53 percent from the fourth quarter last year.
The company provided guidance of 52,000 to 55,000 vehicles delivered and revenue guidance of RMB 17.45 billion to RMB 18.45 billion for the first quarter when it announced its fourth quarter earnings on Feb. 27.
As of March 31, 2023, the cumulative deliveries of Ideal Vehicles were 309,918 vehicles.
The following is a press release from Li Auto and the CnEVPost article is being updated.
Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China's new energy vehicle market, today announced that the Company delivered 20,823 vehicles in March 2023, surpassing the 20,000 monthly delivery mark again and representing an increase of 88.7% year over year.
This took the Company's first quarter deliveries to 52,584, up 65.8% year over year. The cumulative deliveries of Li Auto vehicles reached 309,918 as of the end of March.
“We have commenced deliveries of Li L7, our five-seat flagship family SUV, and are pleased to hear from its first users that their satisfaction with the vehicle has exceeded their expectation. As of the end of March, we delivered over 300,000 vehicles cumulatively, the fastest among China's premium NEV manufacturers to achieve this milestone,” commented Xiang Li, chairman and chief executive officer of Li Auto.
“We are also very excited to see that Li Auto has captured nearly 20% market share in the RMB300,000 to RMB500,000 SUV market in China, and become a brand of choice among premium family SUVs, demonstrating our product strengths and users' widespread recognition. Finally, we will begin to deliver Li L7 Air and Li L8 Air in April.”
As of March 31, 2023, the Company had 299 retail stores in 123 cities, as well as 318 servicing centers and Li Auto-authorized body and paint shops operating in 223 cities.
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