Xpeng is offering a RMB 20,000 cash discount on the G9 in April, doubling the RMB 10,000 it offered in February and March.
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Xpeng (NYSE: XPEV) has extended its promotion for its flagship SUV, the G9, with bigger incentives.
Customers who buy a 2024 G9 before April 30 will get a RMB 20,000 ($2,770) cash reduction, as well as discounts on options worth up to RMB 8,000, the electric vehicle (EV) maker announced today.
The Xpeng G9 is currently available in five available trims, with a starting price before discounts of RMB 263,900, RMB 283,900, RMB 289,900, RMB 309,900, and RMB 359,900, respectively.
Xpeng is offering a discount of RMB 20,000 on all five variants, bringing the starting price down to RMB 243,900.
The Xpeng G9 was initially launched on September 21, 2022, but the confusing configurations at launch sparked a lot of dissatisfaction and overshadowed its appeal.
On September 19, 2023, Xpeng launched the 2024 G9 at a starting price of RMB 263,900, RMB 46,000 lower than the RMB 309,900 of the old model.
Notably, Xpeng's move today is a continuation of a promotion it has been running for the past two months.
The EV maker announced on February 2 that customers who buy the 2024 G9 between February 1-29 could receive up to RMB 10,000 in discounts.
In addition to the cash discount, Xpeng was also offering up to RMB 11,000 worth of option discounts on the G9 at the time.
On March 3, Xpeng continued the discounts it offered in February on a variety of models, offering the same amount of incentives on the G9 as it had previously.
Xpeng delivered 4,545 vehicles in February, down 24.38 percent year-on-year and down 44.91 percent from January, largely due to the Chinese New Year holiday and disruptions from one of its plants' upgrade.
The G9 delivered 861 units in February, contributing 18.94 percent of Xpeng's monthly deliveries, according to data compiled by CnEVPost.
Xpeng is expected to release March delivery figures later today.
($1 = RMB 7.2292)
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