SHANGHAI, March 4, 2026, 21:41 CST
- Deutsche Bank says Nio’s weekly new orders hit about 3,500 units in early March.
- The bank flagged shorter ES8 wait times, suggesting the order queue is thinning out.
- Selling persists, with investors searching for more convincing signals of demand.
Nio’s latest orders climbed to about 3,500 units in early March, the most in any week so far this year, Deutsche Bank analyst Wang Bin’s team wrote Wednesday, citing dealer checks.
Notably, Nio is leaning harder into promotions as it tries to boost demand in China’s crowded EV market—a space now marked by regular price wars. What investors want now is evidence that these deals are actually drawing committed buyers, not just driving up foot traffic in showrooms.
Deutsche Bank’s latest channel checks turned up something new: wait times for Nio’s ES8 have tumbled, now sitting at 4-5 weeks in March, compared to 13-14 weeks back in February. According to the bank, that sharp drop reflects a “rapidly shrinking order backlog”—the pile of unfilled customer orders. CnEVPost
Nio rolled out new financing deals and cash perks for March buyers, according to the note—seven-year low-interest loans and a 10,000-yuan ($1,450) subsidy aimed at offsetting China’s vehicle purchase tax. The bank flagged that Onvo, Nio’s sub-brand, matched these offers with its own set of promotions.
Deutsche Bank flagged the ES8 ramp-up after noticing customer wait times dropped sharply—a sign that fresh orders may be lagging behind output.
Nio shares listed in the U.S. fell another 2.75% on Tuesday, logging a fifth straight loss, MarketWatch reported.
Management wants investors looking at the pipeline. On a livestream, founder and CEO William Li said, “We have officially scheduled it: the ES9 product technology launch event is set for April 9.” EV
China’s big EV players—BYD, Li Auto, XPeng—have watched new orders start to climb again after a February holiday slump, setting the stage as they prep for a flurry of model launches this spring.
The math gets tricky right now. Heavier discounts could boost sales figures, but that squeezes margins and pressures cash flow—especially for companies spending big on new models or advertising. And if order backlogs are shrinking, buyers may not have to wait as long, making it less likely those incentives disappear as fast as some investors expect.
Nio reports earnings next week. Investors are watching demand, pricing, and incentive expenses.
