Geely’s Lynk & Co 01 SUV is currently facing a tough market competition in China as customers are showing a growing preference for new energy vehicles (NEVs) over traditional internal combustion engine (ICE) cars. To counter this trend, Geely has decided to offer a significant discount of 40,000 yuan (5,680 USD) on the petrol-powered Lynk & Co 01 SUV, bringing its starting price down to 127,800 yuan (18,150 USD) after subsidies.
Lynk & Co is a joint venture between Geely and Volvo, with the 01 SUV being the first model launched under this brand in 2017. Despite being the first Lynk & Co vehicle to be introduced in overseas markets, the sales of the petrol-powered Lynk & Co 01 in China have been disappointing. In an effort to boost sales, the SUV received an update in April this year. However, from April to August 2024, only 3,476 units of the Lynk & Co 01 were sold, marking a significant 55.4% year-on-year decrease.
With the increasing popularity of PHEVs and BEVs in China, traditional ICE vehicles like the Lynk & Co 01 are facing stiff competition. As a result, automakers are being forced to offer substantial discounts on their ICE products to attract customers.
The current discount event for the Lynk & Co 01 in China is scheduled from October 1 to October 31, with a total subsidy of 40,000 yuan (5,680 USD) including cash subsidy, trade-in subsidy, and coupons. The SUV also comes with additional benefits such as a lifetime car warranty and on-road assistance for the first owner.
The Lynk & Co 01 is a compact SUV based on the CMA modular architecture shared with the Volvo XC40. It features distinctive design elements such as running lights, integrated headlamps, and elongated taillight units. Under the hood, the SUV is powered by a 2-liter turbocharged petrol engine producing 187 kW (251 hp) and 350 Nm of torque, mated to an 8-speed automatic gearbox with options for 2WD and 4WD.
In addition to the petrol-powered models, Lynk & Co is also making a move towards NEVs by introducing PHEVs and BEVs. The brand recently launched its first electric car, the Z10, with advanced technology and high-performance specifications. The upcoming Z20 crossover aims to enter the overseas market, showcasing Lynk & Co’s commitment to balancing between ICE vehicles and alternative energy options.
In conclusion, Geely’s Lynk & Co 01 SUV faces a challenging market landscape in China, prompting the brand to offer substantial discounts to attract customers. With the growing popularity of NEVs, Lynk & Co is strategically expanding its lineup to include electric vehicles while maintaining a presence in the traditional ICE segment. By adapting to changing market trends, Lynk & Co aims to stay competitive and meet the evolving demands of Chinese consumers.
