The new standard of luxury? NIO surpasses traditional auto brands in transaction value

Ma Lin, NIO's vice president of branding and communications, said Monday that the average transaction price of the NIO main brand surpassed 450,000 yuan ($66,330) last week, overtaking traditional luxury auto brands. This strong upward pricing trend is mainly driving by strong demand for the new flagship SUV ES9 and the continued hot sales of the ES8

The NIO flagship SUV ES9

Ma Lin, NIO's vice president of branding and communications, said Monday that the average transaction price of the Chinese EV maker's main brand vehicles is rising rapidly, highlighting that the company maintains strong brand appeal in China's fiercely competitive premium auto market. 

Ma Lin said that the average transaction price of the NIO main brand vehicles exceeded 450,000 yuan ($66,330) last week. He hinted that this average transaction price has surpassed major rivals including Mercedes-Benz, BMW, Audi, and the Huawei-backed Aito. This strong upward pricing trend is mainly due to the recent launch of the new flagship SUV ES9. In addition, the continued hot sales of another large SUV, the ES8, have also provided important support for the increase in the average transaction price. 

The ES9 has a starting price of 498,000 yuan ($73,640) including the battery pack, while the earlier launched ES8 also maintains a high starting price of 406,800 yuan including the battery. These two models are among the highest-priced in the Chinese market, and their strong sales are significantly improving Nio's overall financial outlook. 

The market performance of the ES9 is particularly outstanding. Ma Lin announced last week that NIO will deliver the 10,000th ES9 in June. NIO officially launched the ES9 on May 27 and began initial deliveries the following day on May 28. 

William Li, CEO NIO, on the left and Yao Ming, on the right

To enhance the vehicle's appeal, NIO also appointed basketball legend Yao Ming as its chief experience officer. Yao made history as the first international player to be selected first overall pick in the US NBA (National Basketball Association), an eight-time All-Star, and an inductee into both the Naismith Memorial and FIBA Halls of Fame, NIO highlighted in a statement. Nio said Yao's career not only defined "Chinese height" but also built a bridge for East-West communication with his global perspective. 

A team led by Deutsche Bank analyst Bin Wang estimates in a research note that the ES9 has already garnered over 25,000 non-cancelable orders, leading to long delivery wait times. Based on this strong momentum, Deutsche Bank raised its full-year delivery forecast for the ES9 in 2026 to 56,000 units. 

The ES9 is the largest mass-produced battery-electric SUV in China, measuring 5,365 mm long, 2,029 mm wide, and 1,870 mm tall on a 3,250 mm wheelbase. Where the NIO really impresses, though, is inside, particularly with the level of available equipment. It can come with a lot of features you'd expect from most premium SUVs, such as a panoramic sunroof, 5-zone climate control, and big screens in the front and rear. It actually has a 48-inch screen spanning the dash behind yet another center infotainment screen. 

Other more high-end features include a 37-speaker sound system, refrigerator for the rear seats, second-row massage seats with reclining and integrated foot rests, and pop-out trays for work or dining. Even more impressive are the liquid-crystal dimming side windows, cameras that detect hot spots to redirect the air vents for focused cooling, and even secure compartments in the door panels designed to hold jewelry and watches. 

Interior of the NIO ES9

Perhaps most remarkable, though, is the availability of a tea set that even includes a water heater. The interior itself also features plenty of premium materials. Four different color schemes are available, including a unique dark red or burgundy leather. Ambient lighting is found all over, along with wood and metal trim. The Horizon Edition also adds embroidered mountains in the seat backs and a badge denoting the edition, which is made from rhodium and tiger's eye. That special model also adds unique 22-inch wheels and a two-tone paint scheme in either gold or black. 

The third-generation NIO ES8

In addition to the strong performance of the ES9, NIO's other large SUV, the ES8, has also maintained strong sales momentum. NIO co-founder and president Qin Lihong said on June 5 that the all-new ES8 is expected to complete its 120,000th delivery within this month. The model delivered 11,475 units in May, surpassing the 10,000-unit delivery mark for the seventh consecutive month. The 110,000th milestone was reached on May 23.