Deutsche Bank Explains Why Nio Saw Strong Deliveries in Dec
Deutsche Bank Explains Why Nio Saw Strong Deliveries in Dec
Increased promotion and front-loading demand boosted Nio's deliveries in December, the team said in a research note sent to investors today.More promotion boosted December deliveries of the Nio brand, while the increase of Onvo was due to improving supply, said analysts at Deutsche Bank.
德意志銀行的分析師表示，更多的促銷活動促進了蔚來品牌12月的交付量，而Onvo的增長是由於供應的改善。
Nio Inc (NYSE: NIO) reported record December deliveries yesterday, with both the main Nio brand and the Onvo sub-brand seeing significant growth.
蔚來公司（紐約證券交易所代碼：NIO）昨天公佈了創紀錄的12月交付量，蔚來主要品牌和Onvo子品牌均實現了顯著增長。
Now, Deutsche Bank analyst Wang Bin's team has shared their thoughts.
現在，德意志銀行分析師王斌的團隊已經分享了他們的想法。
Increased promotion and front-loading demand boosted Nio's deliveries in December, the team said in a research note sent to investors today.
該團隊在今天發給投資者的研究報告中表示，促銷和前期需求的增加推動了蔚來在12月的交付量。
Nio Inc delivered a record 31,138 vehicles in December, the first time it has seen deliveries exceed the 30,000 mark in a single month, data released yesterday showed.
昨天公佈的數據顯示，蔚來公司在12月交付了創紀錄的31,138輛汽車，這是其單月交付量首次超過3萬輛大關。
This puts it at a record 72,689 vehicles delivered in the fourth quarter, within the guidance range of 72,000 to 75,000 vehicles.
這使其在第四季度交付的汽車達到創紀錄的72,689輛，在72,000至7.5萬輛的指導範圍內。
The Nio main brand delivered 20,610 vehicles in December, up 14.42 percent from 18,012 in the same month last year and up 33.03 percent from 15,493 in November.
蔚來主品牌在12月交付了20,610輛汽車，較去年同月的18,012輛增長了14.42％，較11月的15,493輛增長了33.03％。
Onvo delivered 10,528 vehicles in December, up 107.16 percent from 5,082 in November. The Nio sub-brand launched its first model, the L60, on September 19 and deliveries began on September 28.
Onvo在12月交付了10,528輛汽車，較11月的5,082輛增長了107.16％。蔚來子品牌於9月19日推出了其首款車型L60，並於9月28日開始交付。
"We attribute Nio brand's sequential volume increase to its increased promotion in December," Wang's team said.
王的團隊表示：「我們將蔚來品牌銷量的連續增長歸因於其在12月份的促銷增加。」
Specifically, the Nio brand offered a RMB 5,000 ($680) "repeat purchasing" cash subsidy for its volume products ET5, ET5 Touring, ES6, EC6, and RMB 10,000 for its high-price products ET7, EC7, ES7, ES8, the team noted.
該團隊指出，具體而言，蔚來品牌爲其批量產品ET5、ET5 Touring、ES6、EC6提供了人民幣5,000元（合680美元）的 「重複購買」 現金補貼，爲其高價產品ET7、EC7、ES7、ES8提供了1萬元人民幣的 「重複購買」 現金補貼。
Nio brand also launched "aged vehicle" (10-30 days) cash discount of RMB 6,000 for volume products ET5, ET5 Touring, ES6, EC6, and RMB 8,000 for high-priced products ET7, EC7, ES7, ES8, according to the team.
該團隊稱，蔚來品牌還針對批量產品ET5、ET5 Touring、ES6、EC6推出了人民幣6,000元的 「老化車」（10-30天）現金折扣，爲高價產品ET7、EC7、ES7、ES8推出了8,000元人民幣的現金折扣。
For BaaS (battery as a service) customers, Nio offered one payment waiver after every three payments with up to 15 waiver in December. For comparison, it offered one payment waiver after every four payments with up to 12 waiver in November.
對於BaaS（電池即服務）客戶，蔚來在12月每三筆付款後提供一次付款豁免，最多可豁免15次。相比之下，它在每四筆付款後提供一次付款豁免，在11月最多提供12次豁免。
Meanwhile, the team believes the improvement in Nio-branded deliveries was also boosted by the front-loaded demand from January 2025 to December 2024, as some potential buyers may be concerned that the central government's RMB 20,000-per-vehicle trade-in subsidy may be eliminated or the amount of the subsidy reduced.
同時，該團隊認爲，2025年1月至2024年12月的前期需求也推動了NIO品牌交付量的改善，因爲一些潛在買家可能擔心中央政府每輛車2萬元人民幣的以舊換新補貼可能會被取消或補貼金額減少。
The team attributed the sequential volume increase of the Onvo brand to its improving supply, thanks to the introduction of additional battery suppliers.
該團隊將Onvo品牌的銷量連續增長歸因於其供應的改善，這要歸因於引入了更多電池供應商。
Onvo currently has a strong order backlog on hand, the team noted.
該團隊指出，Onvo目前手頭有大量的訂單積壓。
($1 = RMB 7.2994)
($1 = 人民幣 7.2994)
Nio launches limited-time 0-interest financing plans for main brand and Onvo sub-brand
蔚來爲主品牌和Onvo子品牌推出限時0利息融資計劃