Price Cut

The MG Mulan is a compact EV launched by the MG brand in September 2022 and a model for the global market.

Cadillac has turned a package of benefits into an option that reduces the Lyriq's prices in China by RMB 60,000 and also offers a limited-time discount of RMB 18,000 on the model.

Nio has been discussing this adjustment internally for a long time, and as of 3 am today the Nio team was still working on it, William Li said.

Nio today announced that starting prices for all new models are reduced by RMB 30,000 ($4,200) starting June 12, and makes the battery swap service optional.

BYD started offering discounts for the Yuan Plus and Dolphin, after it was already offering discounts for the Seal and Song Plus.

In January-February, Chery's NEV sales were 13,293 units, down 57.6 percent from 31,367 units in the same period last year.

The offer has a deadline of April 30, and SAIC-Volkswagen plans to offer up to RMB 3.7 billion in subsidies for car purchases.

FAW-Volkswagen's retail sales of NEVs in January-February were 9,572 units, down 8.3 percent from 10,442 units in the same period last year.

Shenlan is currently selling only one model, the SL03, a Tesla Model 3 competitor, with 4,103 units delivered in February.

A rare price stampede is taking place in the Chinese auto market.