Nio's ET9 sedan, a flagship model in the electric vehicle market, has seen a decline in monthly deliveries, falling back below 100 units in July. This marks a significant drop from the previous month and a reversal of the five-month streak of sequential gains. The ET9's sales performance raises questions about the effectiveness of the company's marketing strategies and the impact of its competitors, particularly the ES9, which has absorbed much of the brand's executive segment attention. Despite the sustained campaign, including limited-edition releases and personal deliveries by founder William Li, the ET9's sales pace remains well below initial forecasts. The sedan's price, starting at 768,000 yuan, is a significant factor in its sales performance, as it occupies a narrow price band in China's luxury sedan market. The delay in delivering the 120-kWh battery pack, originally announced alongside the ET9, further adds to the model's challenges. This delay, along with the ES9's success in attracting a new demographic, suggests that Nio may need to reevaluate its strategy to boost sales of the ET9 and maintain its position in the competitive electric vehicle market.
