Promotions from market dominators
Tesla offers five-year 0% loans. and 10,000 yuan ($1,380) off yours Model Y SUV until the end of December, you can read on the company’s account on the website Weibo. BYD offers 1,000 to 3,000 yuan discount on some models, auto consultant Sun Shaojun wrote on Weibo on Sunday.
Yangwang rules the market
After another record month in November, the hatchback manufacturer Seagull and supercars Yangwang is on track to exceed its annual sales target of 4 million cars. The best-selling car brand in China found buyers for 504,000 cars last month, an increase of 67 percent. compared to the previous year.
The smaller ones also want a piece of the cake for themselves
Sale of electric and hybrid vehicles increased significantly in July after the government doubled it to 20,000 yuan subsidies for replacing old vehicles for new, more economical models. Despite the incentives Chinese car market remains ultra-competitive, and the discounts on offer show how hard it is for smaller players to fight for share in a market where BYD controls about a third of supplies.
Tesla, BYD and others
|
EV brand |
Incentives |
|
Tesla |
Five-year interest-free loan, 10,000 yuan discount |
|
BYD |
1,000 to 3,000 yuan discount on some models |
|
Zeekr |
Three-year interest-free loan and other incentives |
|
Li Auto |
Three-year interest-free loan |
|
IM Motors |
Five-year interest-free loan and 5,000 yuan for insurance |
|
Denza |
Three-year interest-free loan |
Top salesman
Partner Stellantis NVZhejiang Leapmotor Technology, achieved its annual sales target ahead of time. It delivered 40,169 vehicles in November, bringing year-to-date sales to 251,207, exceeding its target of 250,000 for the year.
President XiaomiLei Jun, reported that the company sold over 20,000 in October and November. vehicles SU7 EV and intends to increase its annual target from 120,000. up to 130 thousand pieces
Laggards still with negative sales
Other automotive companies have still not met their annual sales plans. Premium brand EV Zeekr belonging to Zhejiang Geely Holding Group it still needs to sell about 35,000 cars in December to reach its annual target of 230,000 units. In November, just over 27,000 cars were purchased. The 15-day program helped with this promotional campaignunder which customers could get a three-year interest-free loan and other incentives worth tens of thousands of yuan.
Li Autowhich sold more than 441,000 cars through November, still needs to sell almost 60,000 vehicles this month to reach its 500,000-unit target. The electric vehicle maker also offered three-year interest-free loans to purchase its cars.
