Following the launch event for the NIO ES8 large five-seater model, NIO Inc. founder, chairman, and CEO Li Bin, along with co-founder and president Qin Lihong, engaged in a media dialogue.

Data previously released by the China Passenger Car Association shows that retail sales in the national passenger vehicle market for June reached 1.602 million units, representing a year-on-year decline of 23.2%. Retail sales of fuel-powered vehicles in June fell by 39% year-on-year, with pure internal combustion engine vehicles dropping by 42%. From a wholesale perspective, wholesale figures for pure electric vehicles in June were 981,000 units, a year-on-year increase of 3.6%. Plug-in hybrid wholesale sales were 406,000 units, up 18.1% year-on-year. Range-extended electric vehicle wholesale sales were 94,000 units, down 25.2% year-on-year.

Li Bin stated that, based on the data, the declines for both fuel vehicles and range-extender vehicles are substantial, and the technological pathway is clearly converging towards pure electric vehicles. "If we still refuse to acknowledge this consumer behavior today, it's like deceiving ourselves."

Regarding the industry's sales trend for the second half of this year, he predicts it will improve somewhat compared to the first half, but the full-year volume will undoubtedly face significant pressure when compared to last year.