Lynk & Co is offering limited-time discounts of up to RMB 17,000 on two hybrid models.
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Category: price war
Arcfox has drastically reduced the official guide prices of 2 models and offered a limited time discount for another.
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Onvo continues to offer a zero down payment, three-year interest-free financing program and additionally began offering option discounts.
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The discount, available this month, reduces the starting price of the IM L6 by 13.64 percent to RMB 189,900.
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Almost simultaneously with Tesla, Xpeng announced a zero-down payment, up to five-year zero-interest financing to boost sales in the slow season.
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Tesla is offering RMB 8,000 ($1,100) in insurance subsidy for the Model 3, restarting a promotional tool it has used many times previously on the first working day of the Year of the Snake in the Chinese lunar calendar.
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China's auto market saw 227 models with price cuts in 2024, more than 148 in 2023 and significantly higher than 95 in 2022, according to CPCA secretary-general.
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Wuling's move brings the price of an electric model with a range of 500 km below RMB 90,000 yuan.
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Xpeng CEO has revealed the company's key tasks for 2025 and his view of the market in an internal letter, telling employees to prepare for tougher competition.
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BYD is asking some of its passenger car suppliers to lower their parts quotes, as it expects competition in the NEV market to be fiercer in 2025, according to local media.
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