Nio continues to offer 5-year, 0-interest financing for car purchases in Apr

Nio Inc continued to offer a five-year, zero-interest financing plan in April for both the Nio and Onvo brands. This could result in interest savings of RMB 23,612 to RMB 44,341 for car buyers. (A Nio ES6 on display at a CATL showroom in Chengdu, Sichuan, in August 2024. Image credit: CnEVPost) Nio Inc (NYSE: NIO) continues to offer five-year, zero-interest financing for car purchases in April, covering both the main Nio brand and the sub-brand Onvo, after the incentive expired at the end of last month. Customers who pay a deposit to buy a Nio brand model between April 1 and April 30 can continue to enjoy the five-year, zero-interest financing, the electric vehicle (EV) maker said in a post on its mobile app today. Under the financing plan, the minimum down payment to buy a Nio vehicle is RMB 45,600 yuan ($6,280), or about 15 percent down payment. This could result in interest savings of between RMB 23,612 yuan and RMB 44,341 yuan for buyers, according to Nio. The Nio brand currently has nine models -- the ET9, ES8, ES7, ES6, EC7, EC6, ET7, ET5 and ET5 Touring. This month's car purchase offers apply to the ET5, ET5 Touring, ES6, EC6, ET7, EC7 and ES8, while the ES7 and ET9 are not included. The ET9 was officially launched on Nio Day 2024 on December 21, 2024, with the first deliveries starting at the end of last month. In addition to the five-year, zero-interest financing, the Nio brand will continue to offer the same benefits in April as in March: 48 free battery swaps. RMB 10,000 for optional features. 5-year free NOP+ (Navigate on Pilot Plus) subscription worth RMB 22,800. Onvo also announced today on its mobile app that customers who purchase a model from the brand before April 30 can continue to enjoy the five-year, zero-interest financing plan, but with a down payment of at least 30 percent. Onvo offered incentives including three-year zero percent interest financing in February and upgraded the incentive to five-year zero percent interest financing in March. Nio Inc is expected to report March deliveries later today. ($1 = RMB 7.265) Nio William Li talks about Nio's product roadmap, profitability prospect in wide-ranging interview Nio brand will launch a highly anticipated model in the fourth quarter, and Onvo will also begin deliveries a new model in the fourth quarter, which may be called the L80.