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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Category: price war
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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For comparison, 150 models experienced price reduction in 2023 and 95 models in 2022.
The post 195 Chinese vehicle models experienced price reduction, Jan – Sept 2024 appeared first on CarNewsChina.com.
In the January-September period, China saw 195 models with price cuts, surpassing the 150 models in the whole of 2023, and significantly higher than the 95 models in 2022.
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CAAM has called on Chinese authorities to introduce financial relief for the dealership sector, saying that price wars have led to a cumulative loss of RMB 138 billion yuan ($19.6 billion) in new car retail sales in the January-August period.
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The Bao 5 was launched on November 9, 2023, and monthly deliveries have been below 3,000 units for the past three months.
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Nio will reduce discounts by RMB 3,000 for the ET5 and ET5 Touring and RMB 5,000 for the ES6 and EC6 on July 22, according to local media.
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Nio will reduce discounts by RMB 3,000 for the ET5 and ET5 Touring and RMB 5,000 for the ES6 and EC6 on July 22, according to local media.
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BMW was the first to withdraw from the price war in China's car market, scaling back incentives, with Mercedes-Benz and Audi following suit.
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