bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

Mia Nulimaimaiti

As a domestic price war has brought vehicle prices so low embattled dealers have urged the government to intervene, customs data shows Chinese carmakers are also slashing prices in overseas markets to stay competitive.
While China’s exports in August were at their highest in 2024, prices for electric vehicles (EVs) have been steadily declining.
The export value of Chinese EVs rose year on year last month, but the 3.73 per cent registered was below the 10 per cent growth rate observed in the number of units exported.
This translates to an 5.74 per cent year-on-year decline in EV prices, and an 11.67 per cent drop for the first eight months. The trend is particularly evident in the European Union, where a hotly contested trade investigation over imported EVs from China continues to play out.
Although China’s EV export prices to the EU saw a slight year-on-year increase in August due to provisional tariffs, overall prices dropped by 10.56 per cent compared to the previous month.
At home, the downward spiral is even more pronounced.


Chinese dealers have lost US$19.55 billion in the first eight months of the year, largely due to deep discounts offered in a desperate effort to stimulate sales, the China Automobile Dealers Association (CADA) said on Monday.
“Dealers are facing significant losses in new car sales, with widespread cash flow deficits and heightened risks of capital chain ruptures, making it increasingly difficult for them to survive,” CADA said in a post on its WeChat account.
The association attributed the downturn to weak consumer demand and inventory backlogs, which have forced dealers to sell at a loss to ease financial pressures.
“Existing liquidity has been squeezed to the limit,” it added.
In August, CADA said, the overall discount rate for new cars and light trucks reached 17.4 per cent, a slight easing from the 19 per cent recorded in the previous month.
The association has urged Beijing to promptly implement relief measures to head off systemic risks in the sector, including encouraging financial institutions to enhance funding and loan support for showrooms.


In an unwelcome omen for the world’s largest vehicle market, Grand Automotive Services Group – one of the country’s biggest car dealers – was removed from the Shanghai Stock Exchange effective August 28, after shares traded below their par value for 20 consecutive days.


China’s consumers stay frugal, as drumbeat of downbeat data continues

Concocting a plan: Starbucks hires chief growth officer in China to reignite sales

China’s November consumption misses estimate, adds urgency to stimulus

From blind box toys to snacks, Chinese venture capital firm finds growth in niche spending

China economy

China’s EV exporters, dealers squeezed at home and abroad as price war rages

A fierce price war at home and overseas has forced Chinese car dealers and manufacturers to take significant losses. Photo: Bloomberg

China won’t budge as it resists EV tariffs from EU, state broadcaster says

China’s booming electric vehicle trade has been a flashpoint in relations with the EU, as the bloc has imposed new tariffs on imports. Photo: Xinhua

China’s booming electric vehicle trade has been a flashpoint in relations with the EU, as the bloc has imposed new tariffs on imports. Photo: Bloomberg

China’s EV makers are selling more vehicles at bigger losses, as price war takes its toll

EVs take shape on a production line of Chery Automobile in Wuhu, Anhui province, China, on July 29, 2024. Photo: Reuters

A Xiaomi SU7 on display at one of the company’s stores in Shanghai on April 2, 2024. Photo: Bloomberg

Attendees view a Zeekr 009 EV at a launch event in Hong Kong on July 19, 2024. Photo: Bloomberg

China’s EV makers must overcome trust gaps to win over global buyers, survey says

China’s EV makers have been advised to resolve gaps in trust to increase their share in overseas markets. Photo: DPA

China’s EV makers have been advised to resolve gaps in trust to increase their share in overseas markets. Photo: AP

China seeks WTO talks over EU’s EV tariffs, says trade rules ‘severely’ violated

New cars wait for transportation near a Sallaum Lines ro-ro ship seen by the dock in Yantai in east China’s Shandong province. Photo: AP

Employees work on the production line at a factory for Chery’s electric vehicles in Wuhu, Anhui province. Photo: Reuters

Cars await transport near a ship in Yantai in eastern China’s Shandong province on Tuesday. Photo: Chinatopix via AP

Beijing urges Chinese EV makers to avoid investments in countries like India and Turkey

BYD EVs in a factory in Rayong, Thailand. Photo: Reuters 

Economy

Global Economy

News

China

Business

China Business

China EVs

China Future Tech

China Economy

Rounds of price cuts by China’s car dealers are being mirrored overseas, as manufacturers take losses to gain a foothold in global markets


Rounds of price cuts by China’s car dealers are being mirrored overseas, as manufacturers take losses to gain a foothold in global markets.
