Dissatisfied with the low value retention rate, NIO officially invested 3 billion to launch a second-hand car business

Recently, NIO officially launched the NIO Certified service for used cars. It is reported that NIO Certified is committed to achieving a closed-loop service for NIO cars throughout their life cycle.

In terms of details, users who purchase NIO cars through NIO Certified can enjoy services provided by NIO, such as 7-day worry-free return and exchange, 1-year or 30,000-kilometer original factory extended warranty, free 7kW home charging station, etc. In addition, NIO also stated that it will invest an additional 3 billion yuan to continue to promote the development of NIO Certified.

The reason why NIO still chooses to engage in the used car business in person when the used car market is highly mature must be related to the chaos in the used new energy vehicle market. The "Research Report on China's Automobile Retention Value in July 2020" released by the China Automobile Dealers Association stated that due to factors such as major battery quality issues and different inspection standards, the three-year retention rate of most electric vehicles is currently below 50%.

On the one hand, this negative market factor reduces the turnover rate of new energy vehicles, and on the other hand, it also brings additional pressure to car owners who intend to purchase new energy vehicles. Therefore, in the long run, it is not conducive to the healthy development of new energy vehicles.

It is precisely because NIO actively promotes the used car business that the current used car value retention rate of NIO ES8 is slightly lower than that of fuel-powered cars of the same level. In this regard, NIO President Qin Lihong said: "We must ensure that the used car price of our cars is not lower than that of fuel-powered luxury cars. If it is not achieved, NIO will pay for it."

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.