It's here, the pressure for profitability is mounting!
Nio$NIO+12.8% said on Monday that it will lower the prices of all its models and end free battery replacement services to new buyers!
NIO
NIOCapital Structure
Market Cap
11.6B
Enterpr. Val.
95.5B
Valuation
P/E
-4.2
P/S
1.4
Nio will cut prices by 30,000 yuan ($4,200) for all models, including its upgraded ES6 and ES8 sport-utility vehicles, starting June 12, according to a company statement. This equates to discounts ranging from 6% to 9% on Nio vehicles.
- A good move for me.
$NIO+12.8% is still alive? 😎 AI has replaced EV mania... I guess.
I'm not sure if lowering price is the ideal path to profitability... I'd rather focus on the path of increasing sales (or else) and reducing costs... but at the same time I don't drive a Nio, so we'll see what that brings :)
I'd avoid EVs anyway, it still doesn't make sense to me, and certainly not in commie China.
So we'll see how the stock reacts after the open today. It might be very volatile.
The free swap didn't make much sense anyway, I think. I can't imagine too many customers would choose Nio because of that.
Definitely a good move.
Great, Nio is starting to make sense...