The latest discount lowers the starting price of the Xpeng G6 to RMB 189,900.
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Xpeng (NYSE: XPEV) has begun offering a limited-time discount on the G6 SUV, after starting the offer on the flagship G9 SUV two days ago.
Customers who buy any version of the G6 now can get an RMB 20,000 ($2,780) cash discount if they complete delivery by the end of February, Xpeng said today.
Xpeng had offered an RMB 10,000 discount on the G6 in December, and that entitlement expired at the end of the month. The company did not mention whether the offer was available in January.
Xpeng launched the G6 in China on June 29, 2023, offering five variants with starting prices of RMB 209,900, RMB 229,900, RMB 234,900, RMB 254,900 and RMB 276,900 respectively.
The latest limited-time discount lowers the G6's starting price to RMB 189,900.
The Xpeng G6 is in competition with Tesla's (NASDAQ: TSLA) Model Y, which is also offering discounts.
The Model Y is offered in three versions in China -- a base rear-wheel drive version, a dual-motor all-wheel drive Model Y Long Range version, and a dual-motor all-wheel drive Model Y Performance version.
On January 12, Tesla lowered the starting price of the Model Y by RMB 7,500 to RMB 258,900 for the entry-level version, and by RMB 6,500 to RMB 299,900 for the Model Y Long Range. The starting price of the Model Y Performance was unchanged at the time, remaining at RMB 363,900.
On February 1, Tesla announced an RMB 8,000 cash reduction for customers who now order select versions of the Model Y that have already been produced.
Tesla also upgraded the entire Model Y lineup to the Hardware 4.0 (HW 4.0) self-driving computer on February 1, but the prices remained unchanged.
Back to Xpeng, the company announced on February 2 that customers who purchase a 2024 G9 between February 1-29 can receive up to RMB 10,000 in discounts.
The G9 is Xpeng's flagship SUV, and its starting price is lowered to RMB 253,900 after that offer.
On January 23, Xpeng announced that customers who buy the P7i Wing Edition between January 24 and February 29 can receive a discount of RMB 50,000.
The P7i Wing Edition is the highest-priced version of the P7i sedan with a starting price of RMB 339,900, which is reduced to RMB 289,900 after this offer.
Xpeng delivered 8,250 vehicles in January, up 58.11 percent year-on-year but down 58.99 percent from December due to seasonal factors.
($1 = RMB 7.1925)
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