Lawmaker raises infrastructure concerns over Guangdong southbound car scheme
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South China Morning Post
6 hours ago
- South China Morning Post
Tesla China starts taking orders for longer-range Model 3 EV, with 14% price bump
Tesla has begun offering its longer-range Model 3 variant to Chinese customers as it fights to regain market share from local rivals amid intense competition in the country's premium electric vehicle (EV) segment. The US company announced on Tuesday that the new car, which has a range of 830km, would be priced at 269,500 yuan (US$37,492) on the mainland, 14 per cent higher than the basic edition, which has a 634km range. 'The new variant has a longer driving range, and it is better in performance and efficiency,' Tesla China said, adding that customers could place orders from Tuesday, with deliveries slated to begin next month. The car represents part of Tesla's effort to cater to rich mainland consumers' demand for longer-range and more spacious vehicles in the face of mounting challenges from home-grown rivals like Li Auto and Xiaomi The EV features a high-performance battery from LG Energy Solution and a single motor with higher peak power than the existing Model 3. Once the runaway leader in China's premium EV segment, Tesla's deliveries on the mainland dropped in July amid escalating competition. The company's Gigafactory in Shanghai handed 67,886 Model 3 and Model Y vehicles to customers in China and abroad last month, down 8.4 per cent from a year earlier, according to data from the China Passenger Car Association (CPCA). Deliveries fell 5.2 per cent from June.
South China Morning Post
a day ago
- South China Morning Post
Chinese EV makers' July sales dip 5% as narrower discounts cool vehicle buyers' ardour
Electric vehicle (EV) sales in mainland China hit a speed bump last month, sparking worries about the industry's growth momentum as more carmakers heed Beijing's call to hold back on discounts and focus on profitability. Total EV deliveries, comprising passenger cars and commercial vehicles like buses, slid 5 per cent from a month earlier to 1.26 million units in July, according to data from the government-backed China Association of Automobile Manufacturers (CAAM). It was the first month-on-month drop in the Chinese EV market since May. The sales volume represented a 27.4 per cent increase from the same period in 2024. 'The once booming industry will not sustain its growth over the next few months because of weaker consumer demand,' said Tian Maowei, a sales manager at Yiyou Auto Service in Shanghai. 'Chinese drivers are now very price-sensitive and many of them tend to make purchase decisions due to big discounts.' The sales dip came after discounts offered by EV makers narrowed amid Beijing's call to exit a brutal price war The average price cut on Chinese electric and petrol-powered cars fell to 16.7 per cent last month from an unprecedented 17.4 per cent in June, according to a recent JPMorgan report. In late May, the Ministry of Industry and Information Technology warned that carmakers initiating price cuts would face penalties, although it did not mention specific measures. The government stepped in to police the market amid worries that escalating price competition would undermine the industry's growth, which has been a bright spot in the mainland economy.
South China Morning Post
a day ago
- South China Morning Post
Chinese EV makers report sales dip in July as narrower discounts cool buyers' ardour
Electric vehicle (EV) sales in mainland China hit a speed bump last month, sparking worries about the industry's growth momentum as more carmakers heed Beijing's call to hold back on discounts and focus on profitability. Advertisement Total EV deliveries, comprising passenger cars and commercial vehicles like buses, slid 5 per cent from a month earlier to 1.26 million units in July, according to data from the government-backed China Association of Automobile Manufacturers (CAAM). It was the first month-on-month drop in the Chinese EV market since May. The sales volume represented a 27.4 per cent increase from the same period in 2024. 'The once booming industry will not sustain its growth over the next few months because of weaker consumer demand,' said Tian Maowei, a sales manager at Yiyou Auto Service in Shanghai. 'Chinese drivers are now very price-sensitive and many of them tend to make purchase decisions due to big discounts.' The sales dip came after discounts offered by EV makers narrowed amid Beijing's call to exit a brutal price war Advertisement The average price cut on Chinese electric and petrol-powered cars fell to 16.7 per cent last month from an unprecedented 17.4 per cent in June, according to a recent JPMorgan report. In late May, the Ministry of Industry and Information Technology warned that carmakers initiating price cuts would face penalties, although it did not mention specific measures. The government stepped in to police the market amid worries that escalating price competition would undermine the industry's growth, which has been a bright spot in the mainland economy.
