On September 7th, Tesla China introduced a limited-time car purchase promotion, and at the same time, more than a dozen car companies including Xiaomi launched large-scale price reduction promotions. Industry experts pointed out that the car market in September has entered the key sales window known as the “Golden September and Silver October” period, with car manufacturers starting to ramp up their promotional efforts.
According to a report by The Paper on September 8th, Tesla China’s promotion policy includes cash incentives for orders placed and delivered before September 30th. The Model 3 series offers a cash incentive of 5,000 yuan, while the Model Y series offers a cash incentive of 10,000 yuan, which can be combined with a 5-year interest-free policy. Tesla China stated that the current prices of the Model 3/Y are at a low point after the redesign, and it is also the stage with the most comprehensive combination of Tesla welfare policies.
Moreover, since late August, more than ten car brands have successively launched limited-time car purchase benefits. Xiaomi Auto announced on September 1st the limited-time purchase benefits for its SU7 and YU7 models, where the mainstream versions can choose between a three-year interest-free loan or a 6,000 yuan insurance subsidy plan, while also reducing the prices of core optional equipment packages. Leapmotor announced cash incentives and trade-in benefits for its entire range of models. On September 2nd, NIO officially released the new generation MEGA with a starting price of 509,800 yuan, which is 50,000 yuan lower than the previous MEGA Home version.
In addition, Audi under SAIC Motors gave substantial limited-time flat prices for Audi A7L and Q6 models; brands like FAW Toyota and Dongfeng Honda introduced car purchase gift packages; Volkswagen Anhui, Dongfeng Citroën, and other brands also released low down payment, interest-free car purchase schemes.
The report mentioned that this round of price reductions covers luxury, joint venture, independent, and new energy vehicle models, with promotional methods including cash incentives, insurance subsidies, interest-free financing, and trade-in bonuses among various indirect price reduction measures.
Regarding whether this round of price cuts will spark another price war among car companies, Cui Dongshu, the Secretary-General of the China Passenger Car Association, believes that this price reduction promotion is not a vicious price war. In September, during the crucial sales window of “Golden September and Silver October,” the main purpose of the various brand promotions is to boost sales volume and clear inventory, rather than initiating a comprehensive price war.