- Luxeed is offering consumers who buy its cars before July 31 a cash discount of RMB 20,000 ($2,790), becoming the latest participant in China's auto price war.
- Luxeed reached the milestone of delivering its 100,000th vehicle just one month ago.
Luxeed, the automotive brand jointly created by Huawei and Chery, has begun offering significant purchase discounts as the price war in China's automotive industry continues.
Consumers who purchase either of Luxeed's two models between June 27 and July 31 can receive a cash discount of RMB 20,000 ($2,790), the brand announced today on Weibo.
The discount replaces the previous three-year interest-free financing plan, and subsidies from local governments are also included, Luxeed noted.
Combined with other existing purchase benefits, consumers can accumulate benefits worth up to RMB 60,000, Luxeed said, without providing further details.
Luxeed is one of the automotive brands under Huawei's HIMA (Harmony Intelligent Mobility Alliance) business. Its first model, the Luxeed S7 pure electric sedan, was launched on November 28, 2023, with a current starting price range of RMB 229,800 to RMB 319,800.
On September 24, 2024, Luxeed launched its second model, the Luxeed R7, the first coupe SUV under the HIMA business, with a current starting price range of RMB 259,800 to RMB 319,800.
On May 27, Luxeed announced that it had reached the milestone of delivering its 100,000th vehicle.
The Luxeed R7 sold 5,124 units in May, according to data released by HIMA earlier this month. Sales figures for the Luxeed S7 are unknown.
Over the past month, price wars have been one of the most significant topics in China's automotive market.
On May 23, BYD announced price cuts for up to 22 models, with some models seeing price reductions of over 30 percent. Several domestic automakers followed suit.
On May 31, the China Association of Automobile Manufacturers (CAAM) issued a statement urging an end to the price war to prevent the industry from entering a vicious cycle. Following that, the price war largely subsided.
The new discounts make Luxeed the latest participant in China's automotive market price war, suggesting that for the brand, securing higher sales volumes may be a higher priority.
($1 = RMB 7.1581)
