Onvo L90 Breaks Records and Sets Sights on New Monthly Sales Record
New release, the Onvo L90, sells more than 4,000 units just ten days following its debut
The Onvo L90, the latest offering from Chinese electric vehicle (EV) manufacturer Onvo, has made a strong debut in the market. Just ten days after its official launch on July 31, the L90 delivered over 4,000 units, setting a promising start for the model.
According to Onvo president Shen Fei, the company aims to exceed 10,000 units in deliveries for the month of August. This target seems achievable, considering the L90 delivered 1,976 units within three days of its launch in the week prior to last week. By the end of the first ten days, the number had risen to 4,069 insurance registrations.
The Onvo L90 is poised to set a new monthly delivery record for models under Nio Inc (NYSE: NIO), surpassing the current record held by the ES6 SUV, which delivered 11,118 units in July 2023. Last week, the L90 ranked second in weekly sales of large SUVs, trailing behind the Huawei-backed Aito M8.
The strong performance of the Onvo L90 has contributed to Nio Inc's overall weekly sales, which ranked among the top five in China's weekly automotive sales last week, with a total of 6,089 units sold.
Citi analysts have forecasted monthly sales of the Onvo L90 to be between 8,000 and 9,000 units. This prediction is based on the vehicle's attractive pricing and rich interior features, which are expected to outperform market expectations. However, the company is currently facing delivery delays due to high demand, with wait times increasing as the factory operates at full capacity.
In the competitive EV market, the Onvo L90 is proving to be a strong contender. Its weekly sales are higher than the combined total of Li Auto's Li L8 and Li L9 sales. As the company works to maintain delivery targets and meet the growing demand, the Onvo L90 is set to make a significant impact in the EV industry.
- The Onvo L90, an electric vehicle (EV) from Chinese automotive manufacturer Onvo, is aiming to exceed 10,000 units in deliveries this month, following a strong beginning with over 4,000 units delivered in just ten days.
- This new monthly delivery record for models under Nio Inc (NYSE: NIO) could surpass the current record held by the ES6 SUV, which delivered 11,118 units in July 2023.
- In the week prior to last week, the L90 delivered 1,976 units, indicating a promising sales trend.
- The Onvo L90 ranked second in weekly sales of large SUVs, trailing behind the Huawei-backed Aito M8.
- Nio Inc's overall weekly sales, including the Onvo L90, ranked among the top five in China's weekly automotive sales last week, with a total of 6,089 units sold.
- Citi analysts have predicted monthly sales of the Onvo L90 to be between 8,000 and 9,000 units, based on the vehicle's attractive pricing and rich interior features.
- Despite facing delivery delays due to high demand, the Onvo L90 is proving to be a strong contender in the competitive EV market, with weekly sales surpassing the combined total of Li Auto's Li L8 and Li L9 sales.
