42HOW Auto Survey: ONVO L60 Reservations, Buyer Profiles and Competitor Comparisons

On May 15, 2024, International Family Day, NIO launched ONVO, a new smart electric vehicle brand targeting family users. We conducted a survey within our community among users planning to buy a car in the near future. The following are the core analysis results of this survey.

Respondent Group: 42HOW Auto User Community

Valid Questionnaires: 125

01Basic Profile of Respondents

In this survey, we found that users with recent car-buying plans are mainly concentrated in first- and second-tier cities, particularly Shanghai, Guangdong, Beijing, and Jiangsu. These regions account for 56.8% of the total user proportion.

Most of these potential buyers hold a bachelor's degree or higher, accounting for 86.4%. In terms of industry distribution, those from the 'IT / Telecommunications / Electronics / Internet' sector make up the largest share at 31.2%, followed by the financial industry, production / processing / manufacturing, and real estate / construction.

The average age of respondents is 33. Users aged 26–30 account for 29.6%, and those aged 31–35 account for 27.2%, indicating a relatively young user base. More than 59.2% of respondents currently have children, with 42.4% having one child. Among these children, 58.11% are attending kindergarten.

Among respondents with recent car-buying plans, 14.68% have already reserved the ONVO L60, 62.39% remain undecided, and 22.94% explicitly stated they do not intend to purchase this model.

02Car Purchase and Ownership Status

Among users who have already reserved the ONVO L60, the vast majority of households (87.5%) already own at least one passenger vehicle.

The brands currently owned by these families are primarily NIO, Lixiang, Tesla, and XPENG, with NIO holding a significant position. Among users still hesitating about purchasing the ONVO L60, a substantial proportion (86.76%) of households already own at least one passenger vehicle. The brands they currently own include Tesla, XPENG, Lixiang, and Volkswagen, with Tesla leading in this group.

In contrast, among users who do not intend to buy the ONVO L60, the proportion of households owning passenger vehicles is slightly lower (72%). The brands these families currently own are mainly NIO, Volkswagen, and Mazda, with NIO maintaining a presence in this group.

There is little difference in passenger vehicle ownership rates between users who have reserved and those still hesitating, but brand preferences differ. Meanwhile, the group that does not intend to purchase has a slightly lower ownership rate and distinct brand preferences.

03Purchase Decision

"Commuting" is the primary reason respondents who reserved the ONVO L60 gave for buying a car, accounting for 68.75%. This is followed by "changes in family structure" and "weekend outings," at 56.25% and 50%, respectively, as these users seek balance between work and life.

Among respondents who are still undecided about purchasing a vehicle, the primary factors influencing their decision are commuting to work and weekend or holiday trips, accounting for 76.47% and 58.82%, respectively. Additionally, daily leisure activities represent a significant portion at 51.47%. This indicates that the main activities of these potential buyers revolve around work and entertainment.

For users who do not plan to purchase the ONVO L60, commuting, weekend trips, and daily leisure remain the key factors in their car-buying considerations, with shares of 76%, 64%, and 56%, respectively. This shows a high degree of consistency in buying motivations compared to those who are undecided.

When asked about their budget, respondents reported an average budget of RMB 208,000.

Interestingly, both users who have already reserved the ONVO L60 and those still hesitating have slightly higher average budgets of RMB 268,000, while those not planning to buy have an even higher average budget of RMB 278,000.

Among users who have reserved the ONVO L60, 37.5% have a budget between RMB 210,000 and RMB 250,000. This aligns with the ONVO L60’s starting price of RMB 219,900, a price range that attracted the majority of current reservations.

For users still on the fence, 35.29% have a budget of under RMB 200,000, while the ONVO L60’s starting price sits slightly above this threshold. Nevertheless, 29.41% of respondents have budgets between RMB 210,000 and RMB 250,000, indicating that price is not the primary source of hesitation for this segment.

Among those not planning to purchase, the proportions of users with budgets in the RMB 260,000–300,000 and RMB 210,000–250,000 ranges are comparable, both at 28%, while 24% have budgets under RMB 200,000. These users appear to hold reservations regarding the ONVO L60’s pricing or product attributes.

Surprisingly, the Li L6 emerged as the primary comparison model for ONVO L60 reservation holders, despite the Li L6 being a range-extended electric vehicle rather than a pure battery-electric model.

The Model Y and XPENG G6 followed closely. The Model Y ranked first globally in SUV sales last year and serves as a key benchmark for the ONVO L60, making this result unsurprising.

For prospective buyers still deliberating, the comparison models considered mirror those of reservation holders, even extending to the AITO M5 and Li L7, both of which ranked within the top five selection choices.

For users who do not plan to purchase the ONVO L60, the primary comparison model is the Tesla Model Y, followed by the Li L7, Li L6, AITO M7, and AITO M5. Notably, extended-range electric vehicles (EREVs) account for a significant proportion of these competing options.

Among those who have reserved the ONVO L60, the three key factors influencing their decision are the battery-swap charging ecosystem, price, and exterior design.

The ONVO brand leverages NIO’s advantages in battery-swap technology while offering higher cost-performance at a more accessible price point, which is the main reason existing reservation holders favor ONVO.

For users who have not yet made a final decision, price, brand, and configuration are the core factors causing hesitation. Previous survey results indicate that 35.29% of users set their budget below RMB 200,000, further confirming high price sensitivity.

Additionally, other factors explicitly mentioned by users include delivery lead times and the availability of their current vehicles. For those unwilling to buy the ONVO L60, brand perception and exterior design are the primary reasons for rejection.

04Brand and Product Perception

For the NIO brand, users who have already placed a reservation for the ONVO L60 generally associate it with features such as "battery swapping," "premium positioning," and "refined quality." These users' impressions of NIO are centered on its technological advantages and product craftsmanship.

Users who are still considering their purchase view NIO in terms of "battery swapping," "good service," and "premium status." This indicates that, in addition to technological strengths and product quality, user service is also a significant factor influencing their decision-making process.

Among users who do not plan to buy the ONVO L60, their impression of NIO includes "premium," "battery swapping," and "luxury." This reflects that NIO's brand image regarding high-end market positioning and battery-swapping technology has become deeply ingrained.

Overall, whether among those who have reserved, those considering, or those opting out, perceptions of the NIO brand show a high degree of consistency. Battery-swapping technology, premium positioning, luxury feel, refined craftsmanship, and service advantages are all results of NIO's historical accumulation.

Users who have reserved ONVO generally perceive the ONVO brand as featuring "battery swapping," "cost-effectiveness," and "practicality." This reflects their clear understanding of the brand's positioning and demonstrates strong recognition of the brand.

They also mentioned other advantages of ONVO, such as "comfort," "space," "family," "youthful," and "worry-free." For users who are still considering it, their impressions of ONVO include "NIO," "smart," and "cheap."

These perceptions suggest that potential buyers view ONVO as an affordable option backed by NIO’s heritage, with intelligent technology being a significant factor in their brand image. Among respondents not planning to buy the ONVO L60, prevailing impressions were "family use," "average/standard," and "youthful."

This segment views ONVO as a family-friendly brand with a relatively mainstream positioning that also appeals to younger demographics. This group accounts for 22.94% of all respondents, representing a distinct segment of market perception despite its smaller proportion.

When asked about their impressions of the ONVO L60, different user groups showed both commonalities and differences in their views. Users who had already placed orders mainly evaluated the ONVO L60 in terms of "battery swapping," "cost-effectiveness," and "large space."

This indicates that they perceive clear advantages in the ONVO L60's technology, value for money, and cabin space.

For users who are still hesitating, their impressions of the ONVO L60 include "battery swapping," "cost-effectiveness," and "family use." This reflects that when considering a purchase, they also value the ONVO L60's technical features and family suitability, but may need more information to make a final decision. Users not planning to buy the ONVO L60 have impressions of the product as "unclear," "attractive exterior design," and "cost-effectiveness."

This indicates that although this segment of users recognizes the cost-effectiveness of the ONVO L60, they may lack detailed knowledge about the product, or find the exterior design to be a key attraction. Regardless of whether they are users who have already reserved, those still hesitating, or those not planning to buy, they all retain a strong impression of the ONVO L60's "cost-effectiveness." Battery swapping technology is a feature of common interest for both reserved and hesitant users, underscoring its competitive edge.

05Final Thoughts

Among the models compared by users, the Li L6 emerged as an unexpected favorite, which surprised us greatly.

Despite differences in energy type and policy support, it clearly holds a place in users' minds. Due to the limited size of our survey sample, we were unable to explore this phenomenon in depth.

We sincerely invite ONVO L60 owners who have already placed reservations, as well as potential buyers, to share in the comments section why they chose the Li L6 as a comparison model. We will randomly select one lucky participant from the comments to receive an exquisite gift as a token of our appreciation.

Additionally, if you wish to participate in our future surveys, please scan the QR code below to register. We will notify you immediately when suitable research opportunities arise.

Produced by the 42HOW Auto User Research Team