NIO's Onvo L60 Set to Break 20,000 Monthly Sales

Onvo L60: Paving NIO's Path to Greater Sales Heights

According to a recent Deutsche Bank assessment, the Onvo L60 SUV has the potential to help NIO surpass its current monthly sales, with a goal of reaching and exceeding 20,000 units.

More Clout with Onvo's Debut

According to Deutsche Bank's forecasts, the Onvo L60 SUV, which is set to begin deliveries in September 2024, could give the momentum NIO requires to reach this impressive milestone.

Benchmarking for Success

Previously, NIO's management predicted a return above 20,000 monthly deliveries with the introduction of the Onvo L60 coupe SUV. Deutsche Bank is enthusiastic about meeting this target, citing a 135% YoY and 32% MoM rise to 15,620 units in April.

Momentum in the Future

Deutsche Bank forecasts six new product launches in 2025 from NIO's main and Onvo brands. With two products expected from the Onvo brand and four from the NIO brand based on the next-generation technology, NT 3.0, the team predicts a 62% YoY increase to 300,000 units in NIO's total 2025 sales volume.

Onvo is a valuable addition to the profit and loss statements.

With a monthly sales volume of roughly 20,000 units, Nio's sub-brand, Onvo, will begin to contribute favorably to the company's total "Profit & Loss", according to William Li, Nio's Founder, Chairman, and CEO. According to Li, the Onvo brand plans to offer one new model each year, with a focus on quality above quantity.

Expanding Horizons

The newly unveiled Onvo L60, priced at RMB 219,900 ($30,460) and scheduled for debut and delivery in September, is expected to strengthen NIO's market position while offering high gross margins.

To summarize, Nio's strategic investment in the Onvo brand, along with strong sales estimates, provides a positive outlook for the electric automaker's future growth in both the short and long term.