Between September 1 and September 30, customers can get a combined discount of RMB 21,000 to RMB 24,000 on all P7i models.
(Image credit: CnEVPost)
Xpeng (NYSE: XPEV) has started offering limited-time purchase incentives for its flagship sedan, the P7i, after its local counterpart Li Auto (NASDAQ: LI) made a similar move earlier this week.
Between September 1 and September 30, customers can enjoy a discount of up to RMB 24,000 (USD3,300) on the purchase of the entire P7i lineup, the electric vehicle (EV) maker announced today.
Notably, the offer is not a direct reduction in vehicle prices, but involves a number of benefits, including final payment reductions and option entitlements.
Customers who buy a P7i this month will be able to choose between a 24-term zero-interest loan or a RMB 10,000 final payment reduction as an entitlement, according to a statement from Xpeng today.
In addition, they'll also get free benefits including a Dynaudio Confidence series stereo valued at RMB 6,000.
Overall, customers will be able to get benefits ranging from RMB 21,000 to RMB 24,000 when they buy any of the four models of the P7i this month.
In addition, Xpeng is encouraging customers to purchase the P7i through trade-ins.
Existing Xpeng owners who trade in their vehicle for a P7i will receive an additional RMB 10,000 off the final payment. If owners of other brands purchase a P7i through trade-in, they will receive an additional RMB 5,000 insurance subsidy.
Xpeng officially launched the P7i on March 10 and began deliveries of the model in China on March 26. The P7i is a facelift for the P7, but the latter remains on sale.
The P7 was Xpeng's main seller for a long time, selling 59,066 units in 2022, contributing 49 percent of Xpeng's annual sales of 120,757 units, data monitored by CnEVPost showed.
Xpeng delivered 11,008 vehicles in July, up 27.70 percent from 8,620 in June, although 4.48 percent lower than the same month last year, according to data released on August 1.
This is the sixth consecutive increase in monthly deliveries for Xpeng, after the figure fell to 5,218 vehicles in January this year.
Deliveries of the Xpeng P7 series were 23.28 percent lower in July at 4,908 units, down 5.54 percent from 5,196 units in June, according to the China Passenger Car Association (CPCA).
Xpeng's latest move follows that of its local counterpart Li Auto which announced on August 30 that consumers who buy any of its currently available models before September 30 will receive an insurance subsidy of RMB 10,000 yuan.
Li Auto's current models on sale include the five-seat Li L7, as well as the six-seat Li L8 and Li L9, all of which are extended-range electric vehicles (EREVs), essentially plug-in hybrids.
All of Xpeng's current models are battery-electric vehicles (BEVs), including the P7 series, G3 series, G6, and G9.
($1 = RMB 7.2655)
