Nio extends car purchase perks in Jun with only minor tweaks

June 1, 2024

39 2 minutes read

The latest package of benefits only reduces the free battery swap service experience coupon from 60 to 40, and Nio continues to offer up to 12 billing waivers for customers who purchase a car under its BaaS program.

(A Nio ET5 Touring on display at a small auto show in Shanghai in early May 2024. Image credit: CnEVPost)

Nio (NYSE: NIO) has renewed a car-buying package that expired at the end of May, leaving unchanged the BaaS (battery as a service) battery rental offer, which has been a major help in boosting sales.

“Since the launch of the new BaaS program, buying a car without a battery has gradually become the car-buying choice for most Nio customers,” Nio said in a post published on its mobile app early this morning.

“To thank you for recognizing the new Nio BaaS battery rental service, the exclusive car purchase offer for BaaS subscribers continues in June 2024,” the electric vehicle (EV) maker wrote.

Customers who pay a deposit for a new Nio vehicle since June 1 and choose the BaaS option will enjoy the following benefits:

1, For every 4 payments of BaaS bill, the next bill will be free. This is only available for the first owner and a maximum of 12 billing installments can be waived for one car.

2, Customers will be given 40 vouchers for free battery swap service after getting delivery, which will be valid for 5 years.

Nio did not mention when the first entitlement will end, while the second is available for this month only, thought it could still be continued next month.

The company tweaked its BaaS option on March 14 to offer a limited time entitlement, valid till May 31, while reducing the monthly costs.

Compared to the previous car purchase entitlement, this month’s entitlement package has only reduced the battery swap service experience vouchers from 60 to 40, while the rest remains unchanged.

Customers who pay a deposit to buy a new Nio car in June will also be entitled to an option fund of up to RMB 18,000 ($2,490), a RMB 10,000 trade-in subsidy, and one year’s free use of NOP+ (Navigate on Pilot Plus).

Nio didn’t say whether customers who buy its vehicles now will still get a free Nio Phone. When it launched its trade-in subsidy on April 1, it offered discount coupons worth RMB 6,498 for Nio Phones, in addition to benefits including option funds and free NOP+ experience.

The significant adjustment of the BaaS program on March 14 and the subsequent entitlement packages seemed to have made Nio vehicles significantly more attractive.

After the March tweak, customers who had originally purchased vehicles under the BaaS model will be able to recoup a significant portion of what they had previously paid if they wish to buy out the battery in the future, rather than not being able to recoup any of the cost as was the case previously.

Nio delivered more than 20,000 units in May, an image on the front page of its mobile app showed yesterday. It and its major peers are expected to announce May deliveries later today.

($1 = RMB 7.2418)