The process of new manufacturers replacing old ones in the process of establishing a new market order will likely continue for several years until a new landscape is formed, said Cui Dongshu of the CPCA.
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Neta cut the prices of almost its entire model range, with the compact SUV Neta X seeing the highest reduction.
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The LS6 went on sale in October 2023 and is a Tesla Model Y competitor.
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There's no specific deadline for these discounts until the 2023 models are sold out. Nio will begin delivering 2024 models in March.
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Some Li Auto stores saw a significant uptick in sales just this past weekend, and some trim levels are no longer available for delivery before the Chinese New Year, according to local media.
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Nio will begin deliveries of 2024 models in early March and start offering discounts on current models.
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Li Auto is offering discounts ranging from RMB 35,000 to RMB 38,000, depending on the model, local media said.
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Chery New Energy has slashed the official guide prices of its cheaper Little Ant and QQ Ice Cream models by 7.7 percent to 16.7 percent.
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Jiyue has slashed the starting prices of both versions of the Jiyue 01 by RMB 30,000 and is compensating customers who have already taken delivery for the difference.
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Polestar has taken a page out of Nio's book by stripping out some of the perks, thus lowering the Polestar 4's starting price by 14 percent to RMB 299,900.
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