The competition in China’s auto industry is heating up as Chery joins the price war by offering significant discounts on a range of models. Following in the footsteps of BYD, which recently slashed prices on its Dynasty and Ocean lineups, Chery is now providing discounts of up to 47 percent after subsidies on various models under its Chery, Exeed, Jetour, and iCar brands.
One standout offer is on the iCar 03, a pure electric SUV, which is now available for RMB 79,800 ($11,080) after subsidies. This represents a substantial discount of RMB 40,000 or 33.39 percent off the official guide price. Additionally, the gasoline-powered Jetour X70 SUV is now priced at RMB 56,900 after subsidies, a staggering RMB 50,000 or 46.77 percent lower than the original price.
The discounts offered by Chery include a combination of cash discounts, a trade-in subsidy provided by Chery, and the national trade-in subsidy. This move is expected to attract more customers and create fierce competition in the market.
In response to BYD’s price cuts, other automakers like Leapmotor and IM Motors have also announced similar discount measures. Deutsche Bank analysts believe that BYD’s actions could lead to further price competition in the mass-market segment, prompting other rivals to follow suit.
With the ongoing price war and increasing discounts across various brands, consumers in China can benefit from more affordable options when purchasing a new vehicle. It remains to be seen how other automakers will respond to the competitive landscape created by these discounted offers.
Overall, Chery’s latest discounts demonstrate a commitment to providing value for customers and staying competitive in the ever-evolving auto industry. As the market continues to see price adjustments and promotions, car buyers can take advantage of these opportunities to find the best deals on their desired models.
