October Delivery Sum up : NIO
$NIO Inc (NIO.US)$'s October 2024 delivery report confirms a total of 21,000 vehicles delivered, which includes about 4,000 units of the Onvo L60. The company delivered 20,976 vehicles, marking a 30.5% year-over-year increase. This brings NIO’s total deliveries for 2024 to 170,257 vehicles, an impressive 35.1% growth compared to last year. Notably, the L60, Onvo's debut family SUV, is contributing significantly to NIO's revenue. With an anticipated ramp-up in production, NIO aims to deliver 20,000 Onvo units by March 2025, highlighting the growing demand for this model.
The Onvo L60, launched at a starting price of approximately $21,200, has been particularly noteworthy. This new model is priced significantly lower than competitors, such as Tesla’s Model Y, which starts around $34,600. Analysts report that Onvo has garnered over 30,000 non-cancelable orders, indicating robust interest and potential for further revenue growth.
Additionally, the Onvo L60 offers a battery rental model, which could appeal to cost-sensitive consumers, thus broadening NIO's market reach. With its competitive pricing and appealing features, the Onvo L60 is positioned to drive NIO's revenue upward and solidify its presence in the growing EV market.
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WayneTheBoon : This is bad, onvo cannibalized nio’s sales and 4K units are very bad compared to xpeng which launched the same time