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In 2023, Nio is going to overtake Lexus in home market in China in 2023

During yesterday’s event where Nio unveiled its new ES8 NT2 and EC7 electric crossovers, Nio CEO Li Bin revealed the ambitious goal it has set for 2023: to outsell Lexus in the Chinese home market. And here it is important to consider that in the case of Lexus we are talking about cars with internal combustion engines and hybrids, while Nio is pure electric cars.

In 2022, Nio shipped 106,671 vehicles to customers, an increase of 31.8% compared to 2021. The company notes that this growth far exceeds the growth of the Chinese market as a whole this year. And while maintaining about the same growth next year, Nio will really manage, if not bypass, then come close to Lexus, which sold 156,000 cars in China from January to October of this year.

Another interesting fact: Nio cars are already superior to Lexus in terms of price, that is, we can say that they are more premium. What’s more, at an average selling price of 434,700 yuan ($62,190), Nio didn’t just outperform Lexus, it outperformed Audi and BMW as well. Here is such a premium in Chinese.

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