Shanghai-based EV maker Nio launched a new campaign this Friday on the Dutch market, aiming to clear inventory of its sedan models while boosting demand before the end of the third quarter.
According to the brand’s website, customers can purchase the Nio ET5, ET5 Touring, and its flagship European sedan, the ET7, at discounted prices on models available from stock.
For the ET5 and its station wagon variant, the campaign includes financing with interest rates starting at 2.99% as well as a trade-in bonus of up to €4,500.
The offer applies to vehicles in stock and is valid until September 30, or while supplies last. The company said the incentives cannot be combined with other promotions.
The premium brand is seeking to reduce 2023 model year inventory across Germany, the Netherlands, Sweden and Norway.
Nio’s portfolio in the Netherlands includes its ET7, ET5 and ET5 Touring sedans, alongside the EL6 (ES6), EL7 (ES7), and EL8 (ES8) SUVs.
The new campaign follows earlier promotions, which between April 1 and July 6 offered incentives such as 0.99% financing, trade-in bonuses, and discounted charging.
Those efforts, however, have not led to a recovery in sales.
In July, 17 of the 19 Nio vehicles sold in the Dutch market were ET7 sedans, with the ET5 and EL8 accounting for the remaining units.
In August, 17 of the 18 vehicles registered were ET5 sedans, the brand’s cheapest model in the market, priced from €50,033 ($58,300).
The ET7 is priced from €72,233 ($84,800), including VAT and Nio’s Battery as a Service subscription.
Nio currently has 61 battery-swap stations in Europe, from which nine are located in the Netherlands.
Last month, and as the company started deliveries of its sub-brand Firefly in the country, it sold 24 vehicles — 18 of them being from its main marque and six of them being Firefly units.
From January 1 to August 31, the Nio brand registered 81 vehicles in the country, less than a half of the 170 units sold in the first eight months of 2024.
Since February, Nio‘s monthly sales in the Netherlands have remained below the vehicles registered in the same period a year ago.
Ruben Keuter, who served as Nio‘s country chief in the Netherlands for three years, has left the company in April, to take on the same role at Hyundai.
He was replaced by Tristan Hamelink, who is now the Managing Director for both Nio and Firefly in the country.
As sales in Germany also continue to decline, the Chinese EV maker announced on Thursday that it will be hosting a two-day sales event at its ‘Nio Hub’ showroom in Munich.
The brand will be showcasing their “inspected and certified vehicles” at the event, set to take place this weekend (September 12 and 13).
In Europe, Nio currently operates in Germany, the Netherlands, Norway, Denmark, and Sweden — where August sales saw a 24.1% decrease compared to the same period a year ago and 17.8% sequentially.
The brand has recently debuted in Belgium — one of the more than a dozen new European markets it will enter over the next 18 months, with both the Nio marque and the Firefly brand.
