On the afternoon of December 12th, NIO Chairman Li Bin announced that NIO's annual sales for 2024 are expected to reach 220000 vehicles. With the addition of the Ledao brand, NIO's overall sales target for 2025 is to double its sales to 440000 vehicles.
Photo by journalist Li Xing
Regarding the feasibility of doubling sales by 2025, Li Bin explained that the delivery volume of Ledao L60 in December will reach 10000 vehicles, and it is expected to achieve monthly delivery of 20000 vehicles by March 2025. Let's do a simple calculation. Next year, Ledao Automobile will have an average of 20000 vehicles per month, while NIO will maintain a certain growth on the basis of this year, with over 200000 vehicles, making a total of over 400000 vehicles. Li Bin said that the Firefly models launched next year belong to high-end small cars, and it is difficult to achieve monthly sales of 10000 vehicles, but it is still possible to achieve monthly sales of several thousand vehicles.
According to Li Bin, NIO's third brand "Firefly" and its first model will be officially released at NIO Day in Guangzhou on December 21st. According to the plan, the first model of Firefly will be launched in the first half of 2025, and the new car will be exhibited and sold in NIO stores. In addition, NIO's flagship model ET9 will also be launched during NIO Day in Guangzhou,
In fact, Li Bin stated during the third quarter 2024 earnings conference call that starting from 2025, NIO will enter a new product cycle, with new product deliveries from Ledao and Firefly brands, and NIO will also enter a faster growth stage. The company's goal is to achieve 100% sales growth by 2025 and profitability by 2026, "said Li Bin.
In the face of competition, Li Bin bluntly stated that the incentive for competition in the electric vehicle industry will determine whether it can stay on the table in two or three years. However, Li Bin emphasized again that NIO brand will not participate in price wars and needs to maintain price stability, which is a reasonable choice for both users and capital.
Maintaining sales can only be achieved through hard work. Li Bin believes that NIO's growth has been two years slower than originally planned, mainly due to poor execution. In the next step, NIO will further improve efficiency and control costs. In Li Bin's opinion, NIO's strategic direction is clear, and many issues are execution problems. The company will not do a turnaround, this is not NIO's way of doing things.
