BMW raises prices after China’s brutal discount war fails to boost deliveries

Quick Summary:

BMW’s decision to stop offering discounts could trigger others like Audi and Mercedes-Benz to follow suit as mainland China’s price war hurts automakers’ financials.

The BMW i3 electric vehicle is displayed at the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China, April 25, 2024.

Cui Dongshu, general ­secretary of the China Passenger Car Association, said that the size of discounts offered by petrol and electric carmakers in the first half of this year were “unprecedented” and detrimental to the overall industry.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChina

Topics: 2024 Dealers Price Electric Sales Mainland Cars Automotive Yuan China Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 17:00:28 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 611 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21672512

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