eastwest connect

Xu Changming, Cui Dongshu and other experts discuss high-end cars in China: NIO has made a huge breakthrough in the high-end market


According to Hexun Net, the rise of China’s high-end auto brands has recently received renewed attention from the industry.

On April 2, Xu Changming, deputy director of the State Information Center, said at the 2023 China Electric Vehicle 100 Forum that the rapid development of electric vehicles is promoting the transformation of the competitiveness of self-owned brand cars from quantitative change to qualitative change, and the share and price of self-owned brands have all achieved breakthroughs.

Xu Changming pointed out that the average per-vehicle price of NIO in 2022 is already comparable to that of Mercedes-Benz. Among them, the unit price of Mercedes-Benz is 480,000 yuan, and NIO has reached 475,000 yuan.

At present, smart electric vehicle brands represented by NIO have taken the lead in the high-end market. According to data from the China Association of Automobile Manufacturers, as of February 2023, NIO’s market share in the high-end market of pure electric vehicles above 300,000 yuan has exceeded 66%. NIO ET5 sales have surpassed BMW 3 Series and i3 in Shanghai for 12 consecutive weeks.

Cui Dongshu, secretary-general of the National Passenger Car Market Information Association, also shared similar views at the EV100 Forum. He believes that Chinese smart electric vehicle brands represented by NIO have made good progress in high-end breakthroughs, especially NIO has made a huge breakthrough in the high-end market of more than 400,000.

Industry insiders pointed out that NIO’s ability to maintain its leadership in the high-end market is inseparable from the continuous improvement of its product strength. In 2022, with the delivery of three second-generation technology platform models of NIO ET5, ET7, and ES7, NIO’s new car delivery last year exceeded 120,000 units, a year-on-year increase of 34%. In 2023, NIO’s entire series of products will complete the second-generation technology platform switch, and there will be 8 models on sale in the middle of the year, covering nearly 90% of BMW’s market segments, entering a strong product cycle.