The intensification of competition in the new energy vehicle market and the difficulty in quelling price wars

2024-01-31

Compared to previous years, the Spring Festival in 2024 is relatively late, which has created a rare golden sales period for car companies. Some car companies are either accelerating their pace of promoting new vehicles or offering limited time promotions. The competition in the new energy vehicle market is becoming increasingly fierce, and the market elimination race is accelerating. The first new car launch event in 2024 was won by Xiaopeng Motors, with new models being intensively launched. On January 1st, Xiaopeng Motors launched its first MPV model X9, with a total of four configuration models. This is the flagship model of Xiaopeng Motors under the SEPA2.0 rotary architecture, and also the first super intelligent driving seven seater model to break the boundaries of MPVs. "The Xiaopeng X9 is not only a large seven seater MPV, but can also be 'transformed' into a super large four seater SUV with just one click, providing a more comfortable driving experience than MPVs and more flexible than SUVs." Xiaopeng Motors founder and chairman He Xiaopeng said, "The Xiaopeng X9 will firmly target the core needs of users at the price range of 300000 to 400000 yuan, and provide users with more practical and cost-effective choices while reducing the difficulty of user selection with the most valuable configuration level difference.", Geely's flagship pure electric sedan, the Galaxy E8, has officially launched with a starting price of 175800 yuan. Although the top of the line model reaches 228800 yuan, the core product price is below 200000 yuan. The price of the Geely Krypton 007, which was listed the previous week, is also grounded. Some industry insiders say that this means Geely has regained the pricing power of domestic pure electric vehicles from "Bite". In the Chinese automotive market, only two companies had the pricing power for electric vehicles in the past. One company is Tesla, which influences the price of electric vehicles with its pioneering power and strong appeal in the global electric vehicle market. Any product that wants to enter the Model 3 and Model Y car markets must look at the faces of these two cars, and at the same time, be wary of their arbitrary price adjustments. Another company is BYD, which leverages its highly vertically integrated low-cost industrial chain advantages such as batteries and electric drives, and continuously expands its market sales scale by lowering prices and seizing new territories. On January 7th, the launch conference and delivery ceremony of Dongfeng Nano 01 were held. "The launch of Dongfeng Nano 01 is a redefinition of national cars and an advancement of national transportation methods." Chen Meng, General Manager of Dongfeng Nano Marketing Business Unit of Dongfeng Passenger Car Sales Co., Ltd., stated that Dongfeng Nano is positioned in the 100000 yuan market, focusing on the rigid needs of most ordinary citizens, upgrading national cars with technology as the foundation, and becoming a true "new force of the nation". On January 25th, BMW Group announced the launch of the all-new BMW 5 Series in the Chinese market. This is the eighth generation globally and the fourth generation domestically produced BMW 5 Series. This time, the all-new BMW 5 Series has launched both gasoline and electric versions, with a dual axle (standard and long wheelbase versions) and a total of 12 models. Among them, the starting models have achieved the same price as gasoline and electricity, leading a new trend in luxury brand pricing. "The all-new BMW 5 Series marks the entry of the best-selling BMW model into a new era of intelligence," said Gao Xiang, President and CEO of BMW Group in Greater China. "With the launch of the BMW i5, the BMW brand provides Chinese customers with

Edit:Hou Wenzhe    Responsible editor:WeiZe

Source:economic daily

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