Tesla's first price cut in China had some impact on NIO's orders, "but the subsequent and recent price cuts have had no impact on us," said NIO founder William Li Bin during the Q3 2020 earnings call.
Li said Tesla's recent big price cuts around the National Day holiday had no impact on NIO's orders, and "October was still a record month for orders.
"The market is big enough," Li said, noting that their main competitors should be fuel cars.
Li also said that NIO will soon release its fourth model, a sedan, which will be powered by NP2.0, and that NIO has begun the development of its fifth model, also a sedan.
NIO expects to deliver a record number of 16,500-17,000 vehicles in the fourth quarter of this year and expects fourth-quarter revenue of 6.26-6.44 billion yuan, up 38.3-42.2 percent from the previous quarter.
NIO delivered 12,206 vehicles in the third quarter of 2020, including 8,660 ES6s, 3,530 ES8s, and 16 EC6s.
This compares to 4,799 vehicles delivered in NIO's third quarter of 2019 and 10,331 vehicles delivered in the second quarter of 2020.