Tesla Rival NIO Raises Prices for All But One of Models amid Elevated Material Inflation

若离

若离

· 5月14日

Earlier this week, Toyota Motor warned its full year profit could suffer an up to 20% decline due to "unprecedented" increases in materials and logistics costs. Honda expected the chip shortage and rising raw material costs could cut its annual earnings by 7%.

BEIJING, May 13 (TMTPOST)— As of this week, Tesla’s Chinese rival NIO Inc has almost bumped up prices of its entire range of electric vehicle (EV) models, highlighting auto makers’ mounting pressure from the persistent increases in raw material cost.

Source: Visual China

NIO announced to raise by RMB10, 000 (US$15,000) for its electric sedan model ET7 from May 23, citing the recent increasing prices of raw materials across the world.  Customers can still buy the sedan at the existing price, if they pay deposit for ordering by May 22 and will take the delivery by the end of the year, according to an announcement on Friday.

The recent move suggests NIO has hiked a total of four models this month as the starting prices of ES8, ES6 and EC6 have been raised by RMB10,000 on May 10. ET5 became the EV maker’s only model on sale that hasn’t seen price hike yet.

NIO’s competitors in China have already made the same response. In March alone, BYD, backed by Warren Buffett’s Berkshire Hathaway, hiked prices by RMB3,000 to RMB6,000, and Xpeng confirmed the increase range between RMB10,000 and RMB20,000. Tesla China had third price-raising in a week, affecting all the versions sold in the country but the Model 3 Rear-Wheel Drive (RWD) that month, when CEO Elon Musk expressed his serious concern over “significant” inflation pressure.

Earlier this week, two Japanese auto giants made the warning of rising cost. Toyota Motor warned its full year profit could suffer an up to 20% decline due to “unprecedented” increases in materials and logistics costs. Honda expected the chip shortage and rising raw material costs could cut its annual earnings by 7%, rather than a forecasted rise.

It is notable that the rising-price trend of auto makers’ suppliers is far from over.  SNE Research last month said South Korean battery makers were highly likely to rise prices by 30% to 40% in the coming two or three years. Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest EV battery maker revealed in the late April that it was set to raise price in the second quarter as the spike in material prices was "too huge" to bear. The executives thought the price would have risen about 20% to 30% but it turned out that it shockingly shot up to as high as RMB500,000 in Q1, twenty times more than a year earlier, according to CATL’s earnings call.

本文系作者若离授权钛媒体发表,并经钛媒体编辑,转载请注明出处、作者和本文链接
本文观点仅代表作者本人,钛媒体平台仅对用户提供信息及决策参考,本文不构成投资建议。
想和千万钛媒体用户分享你的新奇观点和发现,点击这里投稿 。创业或融资寻求报道,点击这里

敬原创,有钛度,得赞赏

”支持原创,赞赏一下“
钛粉89798 钛粉00698 刘成军 已注销用户 钛田097033 钛i7Twx8
524人已赞赏 >
524换成打赏总人数524人赞赏钛媒体文章
关闭弹窗

挺钛度,加点码!

  • ¥ 5
  • ¥ 10
  • ¥ 20
  • ¥ 50
  • ¥ 100

支付方式

确认支付
关闭弹窗

支付

支付金额:¥6

关闭弹窗
sussess

赞赏金额:¥ 6

赞赏时间:2020.02.11 17:32

关闭弹窗 关闭弹窗

注册邮箱未验证

我们已向下方邮箱发送了验证邮件,请查收并按提示验证您的邮箱。

如果您没有收到邮件,请留意垃圾邮件箱。

更换邮箱

您当前使用的邮箱可能无法接收验证邮件,建议您更换邮箱

账号合并

经检测,你是“钛媒体”和“商业价值”的注册用户。现在,我们对两个产品因进行整合,需要您选择一个账号用来登录。无论您选择哪个账号,两个账号的原有信息都会合并在一起。对于给您造成的不便,我们深感歉意。