In an attempt to maintain consistent sales, Aito lowers the prices on its M7 and M9 models.
In the ever-evolving world of automotive manufacturing, China's auto giants are making waves with their latest offerings and incentives. Here's a roundup of some of the most significant developments from the past few months.
Chery's Generous Offerings
Chery, a well-established name in the Chinese automotive industry, is currently enticing customers with a substantial car purchase voucher scheme. Customers purchasing Chery's designated models stand a chance to win nearly RMB 50,000 (USD 6,900) in vouchers. Additionally, the company has temporarily waived purchasing taxes for these designated models.
Moreover, Chery has introduced a RMB 10 billion (USD 1.3 billion) subsidy plan for trade-ins, offering a maximum deduction of RMB 30,000 (USD 4,140) for eligible old models. The Aito M7, a popular model in Chery's lineup, previously came with a RMB 3,000 (USD 410) subsidy and a complimentary RMB 15,000 (USD 2,070) package. However, with the current price reduction of RMB 20,000 for the Plus version, customers now have to purchase the RMB 15,000 package separately, effectively translating to only a RMB 5,000 (USD 690) discount.
Aito's Price Adjustments and Strong Sales
The Aito M7 Plus five-seater model with real-wheel drive has seen a price reduction from RMB 249,800 (USD 34,500) to RMB 229,800 (USD 31,740). Similarly, the Aito M7 Max model, equipped with smart driving features and rear-wheel drive, has been repriced from RMB 289,800 (USD 40,300) to RMB 279,800 (USD 38,650). These price adjustments may have been influenced by the launch of Xiaomi's SU7, as the competition heats up in the electric vehicle market.
Aito's sales figures are impressive. The company's total delivery volume for March reached 31,727 units, with 24,598 units of the new Aito M7 and 6,243 units of the Aito M9. The new Aito M7's delivery volume increased by 50.1% compared to February, demonstrating strong consumer interest in the brand.
Xiaomi's Foray into the Automotive Industry
Three years ago, Xiaomi announced its foray into the automotive industry. The company's CEO, Lei Jun, expressed 'unwavering confidence in victory' at the SU7 launch. Xiaomi unveiled its first all-electric sedan, the SU7, on March 28, with a starting price of RMB 215,900 (USD 29,800). Within 24 hours of its launch, Xiaomi received 88,898 pre-orders for the SU7, surpassing its annual sales target within a day.
In addition to the SU7, Nio also launched a RMB 1 billion (USD 138 million) subsidy for gasoline car replacements on April 1. Toyota announced a change in the subsidy regulation for trading in old vehicles on April 1, 20XX.
As the automotive landscape in China continues to evolve, it's clear that competition is heating up, and consumers stand to benefit from the incentives and price adjustments being offered by these major players.
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