China’s premium EV sales cruise along, while price war pushes profits further off for most

Quick Summary:

Li Auto and Geely’s Zeekr turned in the strongest growth in July, while Xpeng and Nio delivered more modest increases.

Early this week, BYD reduced prices for its Fang Cheng Bao premium models by up to 17.3 per cent.

The prices of 50 ­models across a range of brands had dropped by 10 per cent on average, Goldman Sachs said in a report in April.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChina

Topics: Vehicles Auto Year Prices Sales July Month Units Mainland Cent Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 21:00:58 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 549 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 27 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 21886362

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