Category: eMobility

Price wars fail to boost China’s auto consumption

With consumers in a wait-and-see mood, orders and transaction rates did not increase significantly, and auto demand recovered less than expected, the CADA said.

Price wars fail to boost China's auto consumption-CnEVPost

Many automakers in China launched rare price wars in March to try to boost sales. But these moves do not seem to have achieved the results they wanted.

In March, following significant promotions by automakers in Hubei province, dozens of provinces and cities, including Beijing, Tianjin, Shanghai and Zhejiang, offered deals that gave dealership store traffic a quick boost, the China Automobile Dealers Association (CADA) said in an April 3 report.

However, orders and transaction rates did not increase significantly as consumers were in a wait-and-see mood, and auto consumer demand did not recover as expected, the CADA said.

The Vehicle Inventory Alert Index for China's auto market was 62.4 percent in March, down 1.2 percentage points from a year ago but up 4.3 percentage points from February, according to the CADA report.

The index's break-even value is 50 percent, and a reading above that benchmark means the auto distribution industry is in contraction territory, according to the report.

China's switch to the 6b emissions standard was not the main reason for the wave of price cuts, the CADA said, adding that most dealers said their inventories of 6a-based vehicles are not high and could be cleared by the end of June.

However, there are still a large number of 6b-based vehicles that do not meet RDE (real-world driving emission) standards, and with lower-than-expected sales in the first quarter, these vehicles face challenges in completing inventory clearance by the end of June, the CADA said.

In March, vehicle prices were volatile and customer wait-and-see sentiment was strong, resulting in lower orders and turnover rates and a decline in dealer profitability, according to the report.

More than 60 percent of dealers said they met less than 80 percent of their sales targets in the first quarter. Of those, 20.5 percent of dealers achieved 70-80 percent of their sales targets and 46.0 percent achieved less than 70 percent, the CADA said.

Separately, the CADA said in another report on April 3 that the March auto consumption index was 72.5, down from 74.6 percent in February.

March auto sales did not meet expectations, and dealers predict that without major policy changes in April, auto sales will be essentially unchanged from March, the CADA said.

In March, the demand sub-index of the auto consumption index was 68.2, down from 73.3 in February, the CADA said, adding that this signals a decline in demand for cars in April.

Price wars fail to boost China's auto consumption-CnEVPost

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Buick to launch Electra E5 electric SUV in China on Apr 13

The Electra E5, Buick's first electric model based on the Ultium platform, is a 5-seat SUV measuring 4,892 mm in length.

(Image credit: Buick)

General Motors' Buick brand will launch its first electric model based on the Ultium platform in China next week, in what could be one of the most anticipated EV offerings from a foreign brand here.

Buick will launch the Electra E5, a large five-seat all-electric SUV, in China on April 13 and will be offered in standard, long-range and Avenir four-wheel-drive versions, SAIC-GM, GM's joint venture in China, announced today.

The Electra E5 features the Pure Design concept, the new generation Virtual Cockpit System (VCS), and Buick eConnect network connectivity technology, SAIC-GM said.

The model will feature exclusive battery cells with a CLTC range of up to 620 km and can consume as little as 13.5 kWh per 100 km.

Its Avenir 4WD version will feature the Ultium 8-in-1 electric drive system with a permanent magnet synchronous motor in the front and an induction asynchronous motor in the rear.

The Avenir version uses a battery pack with a capacity of 80 kWh, offering strong performance and range, SAIC said.

China's Ministry of Industry and Information Technology released a list of models that will be allowed to be sold in China for public comment last November 16, and the Buick Electra was included.

The Electra E5, which entered the catalog at the time, has a single electric motor with 180 kW of peak power and a top speed of 180 km per hour.

The Buick Electra E5 measures 4,892 mm in length, 1,905 mm in width and 1,655 mm in height, and has a wheelbase of 2,954 mm, the filing data show.

Its power battery is a ternary lithium battery, and the supplier is a joint venture between Chinese power battery giant and SAIC.

The battery pack has a capacity of 68.4 kWh and will give the vehicle a CLTC range of 545 km.

Last December 19, Buick began warming up for the Electra E5, saying the model would be launched soon.

On December 28, Buick saw the first pilot vehicles of the Electra E5 roll off the line at the Ultium plant in Wuhan, Hubei province, central China.

Regulatory filing: Buick Electra all-electric SUV not far from launch in China

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NIO names its car rental service in China NIO Subscription

upgraded the service a year ago, and more than 3,000 consumers have used it in the past year.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO)

NIO (NYSE: NIO) first mentioned its vehicle rental service called NIO Subscription at its NIO Berlin European launch event last October.

Now the company appears to be using the same name for the service it offers in China to unify its brand image.

NIO marked the one-year anniversary of its upgraded vehicle rental service with a post on its mobile app today, and used the words "NIO Subscription" in a poster.

As a background, NIO has been offering car rentals for the past several years, but it hasn't received much attention, and on April 6, 2022, NIO upgraded the service.

In the previous car rental service offered by NIO, the monthly cost was fixed at RMB 9,888 ($1,440). In the upgraded service, each car is rented at a different price and the cost is reduced each month.

In the case of an ES6 SUV produced in 2020 with 34,000 kilometers on the road, a user can rent it for RMB 7,114 in the first month and RMB 6,661 in the 12th month, according to NIO's announcement last year.

This amount decreases month by month to RMB 4,684 in the 60th month.

Since the launch of the upgraded service, more than 3,000 consumers have experienced it, NIO said today.

To date, the service is available in 20 cities, including Shanghai, Beijing, Xi'an, Wuhan, Chengdu and Guangzhou, NIO said.

In 2023, the service will expand to an additional 10 cities, according to a poster by NIO.

($1 = RMB 6.8815)

NIO upgrades service that allows users to rent cars like software subscription

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NIO to allow Chinese consumers to lock in EC7 orders starting Apr 10

Test drives for the EC7 will open on April 10, with deliveries to begin in mid-May.  |  NIO US | NIO HK | NIO SG

(Image credit: NIO)

NIO (NYSE: NIO) will allow consumers to lock in orders for the EC7 electric coupe SUV starting next Monday, with the model just a month away from its planned delivery date.

Starting at 10 am on April 10, the EC7 will be available for consumer order lock-ins, NIO announced in an article posted on its mobile app today.

EC7 show cars and vehicles for test drives have already begun shipping to NIO showrooms in cities across China, and test drives will be available starting April 10, NIO said.

Until NIO starts accepting orders for lock-in, consumers can still get the benefits of the earliest buyers by paying a reservation deposit of RMB 5,000 ($730). These benefits include using the deposit as RMB 10,000 for the purchase of the car.

These reservation benefits will no longer be available after the EC7 begins accepting locked orders.

Deliveries of custom vehicles for the EC7 will begin in mid-May, NIO said.

Orders for the EC7 with locked-in configurations by April 16 will be scheduled for production and delivery essentially in the order in which consumers pay their reservation deposits.

Starting April 17, the EC7 will be scheduled for production and delivery in the order in which consumers lock in their configurations.

Some options may result in later deliveries of customized EC7s, with deliveries expected to begin as early as July for models with the optional rear comfort package and August for EC7s with the optional coral red interior.

Here is a video about the design of the EC7 shared by NIO on its app.

NIO officially launched the EC7, its second coupe SUV after the EC6, at the NIO Day 2022 event last December 24, with a length of 4,968 mm, width of 1,974 mm, height of 1,714 mm and a wheelbase of 2,960 mm.

NIO offers an intelligent dimming glass option for the EC7's roof, the first time the company has introduced this option in one of its models.

Thanks to an optimized exterior design, the EC7 has a wind resistance coefficient of just 0.23 Cd, which NIO said is the lowest of any mass-produced SUV in the world.

The EC7 is equipped with a 180-kW permanent magnet motor at the front and a 300-kW induction motor at the rear, allowing the motor to reach a peak power of 480 kW.

The powertrain allows the EC7 to accelerate from 0 to 100 km/h in 3.8 seconds, making it NIO's fastest-accelerating SUV.

NIO currently offers three versions of the EC7, including a version with a 75-kWh standard range battery pack, a version with a 100-kWh battery pack, and a premiere version with a 100-kWh battery pack.

Including the battery, the starting prices for these three versions are RMB 488,000, RMB 546,000 and RMB 578,000 respectively.

If consumers choose NIO's battery as a service (BaaS) program, the starting prices are RMB 418,000 for both regular versions and RMB 450,000 for the premiere version. Their monthly battery rental costs are RMB 980 yuan, 1680 yuan and 1680 yuan respectively.

NIO's NAD (NIO Autonomous Driving) feature will also be available for the EC7, and the full feature package will be available on a subscription basis at a cost of RMB 680 yuan per month. However, the software is not yet available.

NIO offers the first EC7 owners a 10-year unlimited mileage warranty, up to six free battery swaps per month, and free home charger.

It is worth noting that with the EC7 available, the EC6 is not discontinued.

On February 13, the new, NT 2.0 platform-based EC6 appeared in a filing catalog showing the model's appearance and core specifications.

($1 = RMB 6.8809)

Regulatory filing: NIO's new EC6 coming

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