(Yicai) Aug. 11 -- The rumors that Nio's frontline salespeople are earning as much as CNY400,000 (USD55,400) a month after the Chinese electric vehicle startup set a new sales record last month are untrue, according to one of them.
The hearsay about sales representatives getting massive payment increases is exaggerated, the person who works in sales at the Shanghai-based automaker told Yicai.
Online rumors say high-flying sales staff earned more than CNY100,000 and up to CNY400,000 in July, which is also fueled job-hopping from other car manufacturers.
A salesperson can now earn up to CNY2,000 (USD278) extra by selling an ES8 or ET7, and for an ET5, a more affordable model, the commission is more than CNY1,000, the person said. The bonus was about CNY800 previously.
Nio is expanding its sales team and is hiring some newcomers from luxury brands such as Tesla and Mercedes-Benz, the person added.
Nio delivered over 20,460 vehicles last month, double a year ago and 91 percent more than in June, the firm revealed on Aug. 1. But first-half deliveries rose just 7 percent from a year earlier to a bit more than 54,560, equaling just around a fifth of Nio’s annual target.
The focus on sales staff comes amid pressure from rival Li Auto. In July, the Beijing-based startup delivered more than 34,130 units, a more than threefold surge from a year ago and the second straight month the figure was above 30,000.
In order to keep up, Nio has also lowered its prices. In June, all of its models became CNY30,000 (USD4,153) more affordable, and its ET5 sedan became the company's first model priced at less than CNY300,000 (USD41,726).
Editors: Dou Shicong, Emmi Laine