- Chery is offering discounts on a number of models, with a combined discount of up to 47 percent after subsidies.
- After BYD offered extensive discounts, several automakers followed suit.
The price war in China's auto industry continues, with auto giant Chery becoming the latest to join in.
Chery today announced limited-time discounts available until June 2, covering petrol cars and new energy vehicles (NEVs) under the four brands Chery, Exeed, Jetour and iCar.
The pure electric SUV (sport utility vehicle) iCar 03 now starts at RMB 79,800 ($11,080) after subsidies, which is RMB 40,000, or 33.39 percent, off the official guide price.
The gasoline-powered Jetour X70 SUV now starts at RMB 56,900 after subsidies, which is RMB 50,000 or 46.77 percent lower than the official guide price of RMB 106,900.
It's worth noting that the subsidies for these models include cash discounts, a trade-in subsidy provided by Chery, and the national trade-in subsidy.
Chery offers discounts on multiple models
| Brand | Model | Official Guide Price (RMB) | Post-subsidy Price (RMB) | Change (RMB) | Change (%) |
|---|---|---|---|---|---|
| Chery | Tiggo 3x | 57,900 | 34,900 | -23,000 | -39.72% |
| Chery | Tiggo 5x | 67,900 | 44,900 | -23,000 | -33.87% |
| Chery | Tiggo 7 | 74,900 | 54,900 | -20,000 | -26.70% |
| Chery | Tiggo 8 | 109,900 | 59,900 | -50,000 | -45.50% |
| Chery | Tiggo 9 | 152,900 | 102,900 | -50,000 | -32.70% |
| Chery | Tiggo 8L | 139,900 | 89,900 | -50,000 | -35.74% |
| Chery | Tiggo 8 Pro | 119,900 | 64,900 | -55,000 | -45.87% |
| Chery | Tiggo 8 Plus | 119,900 | 74,900 | -45,000 | -37.53% |
| Chery | Arrizo 8 Pro | 116,900 | 78,900 | -38,000 | -32.51% |
| Chery | Arrizo 8 | 112,900 | 67,900 | -45,000 | -39.86% |
| Chery | Fulwin T8 | 103,900 | 69,900 | -34,000 | -32.72% |
| Chery | Fulwin A8L | 129,900 | 82,900 | -47,000 | -36.18% |
| Chery | Fulwin T9 | 132,900 | 92,900 | -40,000 | -30.10% |
| Chery | Fulwin T10 | 189,900 | 139,900 | -50,000 | -26.33% |
| Exeed | Lingyun | 147,900 | 102,900 | -45,000 | -30.43% |
| Exeed | Yaoguang | 149,800 | 114,800 | -35,000 | -23.36% |
| Exeed | Yaoguang C-DM | 159,900 | 109,900 | -50,000 | -31.27% |
| Exeed | Lanyue | 193,900 | 143,900 | -50,000 | -25.79% |
| Jetour | X70 | 106,900 | 56,900 | -50,000 | -46.77% |
| Jetour | Dasheng | 93,900 | 59,900 | -34,000 | -36.21% |
| Jetour | X90 Plus | 105,900 | 66,900 | -39,000 | -36.83% |
| Jetour | Shanhai L6 | 134,900 | 97,900 | -37,000 | -27.43% |
| Jetour | Shanhai L7 | 142,800 | 97,800 | -45,000 | -31.51% |
| Jetour | Shanhai L9 | 164,900 | 126,900 | -38,000 | -23.04% |
| Jetour | Shanhai T1 | 134,900 | 104,900 | -30,000 | -22.24% |
| Jetour | Shanhai T2 | 179,900 | 139,900 | -40,000 | -22.23% |
| Jetour | Traveler | 139,900 | 109,900 | -30,000 | -21.44% |
| Jetour | Freedom | 124,900 | 94,900 | -30,000 | -24.02% |
| iCar | iCar 03 | 119,800 | 79,800 | -40,000 | -33.39% |
| iCar | iCar 03T | 139,800 | 99,800 | -40,000 | -28.61% |
| iCar | iCar V23 | 109,800 | 87,800 | -22,000 | -20.04% |
On Friday, BYD (HKG: 1211, OTCMKTS: BYDDY) made extensive price cuts to its Dynasty and Ocean lineups, offering discounts of about 10 percent to 30 percent through June 30.
BYD's additional price discounting measures could lead to further price competition in the mass-market price range and spark more rivals to follow suit, Deutsche Bank said in a May 24 research note.
Earlier this week, EV makers including Leapmotor (HKG: 9863) and IM Motors already announced similar measures.
($1 = RMB 7.1993)
