Latest news with #pricecut
Daily Mail
a day ago
- Automotive
- Daily Mail
New cheapest electric car in Britain
The £14,995 Dacia Spring is no longer Britain's cheapest electric car... for the time being, anyway. It has lost its crown to a Chinese newcomer, which today announced it is slashing its model prices in response to the Government's new Electric Car Grant. Leapmotor - which recently agreed a deal with Stellantis to stock its Chinese-made EVs in the European giant's network of UK showrooms - has knocked £1,500 off the price of its T03 city car. which has a range of 165 miles on a full charge. This has slashed the price to £14,495 - undercutting Dacia's bargain battery model by £500 - to make it the most affordable new EV sold in Britain. Leapmotor's only other model sold in the UK, the C10 family SUV, is also being discounted by £3,750 with immediate effect. The size of these two price cuts matches the minimum and maximum discount being offered through Labour's new Electric Car Grant announced on Monday. However, while Leapmotor claims the 'Leap-Grant' is being offered to customers now to avoid delays waiting for the Government scheme's arrival, reports suggest it and other Chinese brands are unlikely to qualify for the taxpayer-funded subsidies at all. The Electric Car Grant (ECG) - announced by Transport Secretary Heidi Alexander this week - is the Government's new big hope to reignite demand for EVs, as it continues to steer towards outlawing sales of new petrol and diesel cars in 2030. However, it won't be available with immediate effect. This is because manufacturers need to apply to be eligible for the scheme, which could take weeks, experts have hinted . Leapmotor UK says this is why it is, 'taking a proactive leap forward to help electric car buyers save up to £3,750 immediately, by launching its own self-funded EV grant, effective from today'. It adds: 'This initiative makes Leapmotor the first car manufacturer in the UK to offer such a grant since the Government announced its own EV grant scheme, which won't kick in for consumers until next month.' For the Government scheme, only cars up to £37,000 qualify, which rules out premium models, including every Tesla on sale. No Audi, BMW or Mercedes EV will be eligible either. This might sound like good news for Leapmotor and its budget-friendly model offering, but reports have suggested it - and other Asian brands - will fail to meet a secondary stipulation put in place by government to qualify for the ECG. In order to be eligible, manufacturers must meet specific sustainability criteria, based on the Science-Based Target (SBT). This is an industry-wide green standard providing scores for companies reflective of the carbon impact of manufacturing products - in this instance, electric cars and their batteries. Only the greenest companies will receive the full £3,750 grant subsidy, while those considered to only meet a lower band will be issued £1,500 discounts, the DfT has confirmed. However, vehicles that don't meet a minimum threshold - which is yet to be divulged - will not receive a grant at all. Reports have suggested that Chinese EV makers could fall foul of the emissions-based rules. As could other Asian manufacturers, including those from Korea and Japan, according to Autocar . Speaking on the BBC's Today programme on Wednesday (16 July), Transport Minister Lilian Greenwood said she did not expect any cars that are produced in China to be eligible. 'The grant is restricted to those manufacturers that reach minimum environmental standards,' she said. 'And, frankly, if you generate a lot of the electricity that powers your factory through coal power stations, then you are not going to be able to access this grant.' According to The Telegraph , the Chinese embassy has hit hack and the scheme's stringent requirements. It has called on the UK to follow World Trade Organisation (WTO) rules and create a 'non-discriminatory environment for investment'. WTO rules stipulate that members must not give favourable treatment to one country over another when it comes to trading goods and services. An embassy spokesperson added: 'The Chinese side is closely following the situation and will resolutely safeguard the legitimate rights and interests of Chinese companies.' China's - and the world's - biggest EV maker, BYD, has informed the DfT of its intention to apply for eligibility for the Electric Car Grant and said it looks forward to being 'part of it'. Leapmotor says, like consumers, it is 'still waiting to learn which vehicles will qualify, how much financial support will be available, and when the grants will take effect'. Its terms and conditions say discounts are subject to orders placed between 18 July and 30 September 2025 from authorised Leapmotor retailers. However, if it fails to qualify for the Government grant on sustainability grounds, it might be forced to extend the deals. That said, Dacia's Spring - which costs from £14,995 and has been Britain's cheapest EV for the last 12 months - is also produced in China. In fact, it's manufactured in Covid-originating Wuhan by Dongfeng Renault - a joint venture between Dacia's parent company Renault Group and Dongfeng Motor Group. Whether it will qualify for the Government's £1,500 to £3,750 grants is yet to be seen. For the next two months at least, the T03 is being knocked down from £15,995 to just £14,995 with a £1,500 discount applied. Those using Personal Contract Purchase (PCP) finance can pick one up before the end of September for £169 per month and £169 deposit on 0 per cent APR for four years. The bigger C10 SUV is slashed by £3,750 to £32,750 or on a 0 per cent four-year PCP contract for £319 per month and £319 deposit. 'Our mission is to help make the leap to electric cars easy for UK drivers,' said Damien Dally, managing director at Leapmotor UK. 'We've decided to act now because we want to give customers clarity, confidence, and immediate savings – and make the switch to electric a simple choice.' Both cars come with a four-year warranty, while their batteries are covered by a separate eight-year guarantee. Chinese rival Great Wall Motor (GWM) has also since launched its own £3,750 'Green Grant' for the Ora 03. 'The initiative follows the recent announcement that the UK Government's electric vehicle grant includes will focus on a specific set of vehicles, leaving many customers confused and waiting to see if models like Ora 03 will qualify,' the company said. It means the entry-level Ora 03 PURE now starts from £21,245.
ArabGT
2 days ago
- Automotive
- ArabGT
Mercedes EQ Prices Drop Sharply as Brand Prepares for Electric Future
In a strategic shift that may redefine the luxury EV landscape, Mercedes-Benz has announced significant adjustments to Mercedes EQ prices, cutting costs across its all-electric EQE and EQS models. The move comes as the German automaker gears up to launch an all-new generation of electric vehicles in 2026, aiming to re-energize demand in a competitive market. Why Mercedes EQ Prices Are Dropping Now Despite offering innovative technology, bold design, and strong performance, the Mercedes EQ lineup has struggled to achieve its global sales targets. Sources suggest models like the EQE and EQS fell short of expectations, particularly in the United States and Europe. Several challenges have contributed to the situation: Unconventional styling : The futuristic, streamlined look of the EQ models deviated from classic Mercedes design cues, dividing consumer opinion. Premium starting costs : Initial Mercedes EQ prices were considerably higher than those of competitors like BMW, Tesla, and Lucid, making them less appealing to value-focused buyers. Tougher market competition: The influx of new luxury EVs from brands such as Audi and Genesis has intensified the pressure. New Mercedes EQ Prices: How Much You'll Save In select markets, discounts have exceeded $10,000 (around SAR 37,500), signaling Mercedes' urgency in clearing current inventory and creating room for its next-generation EV platform. The newly adjusted Mercedes EQ prices for 2026 models are: EQE Sedan : $66,100 (SAR 247,875), down from $76,050 EQE SUV : $66,100 (SAR 247,875), down from $79,050 EQS Sedan : $101,400 (SAR 380,250), down from $105,550 EQS SUV: $91,100 (SAR 341,625), down from $106,400 These revised Mercedes EQ prices reflect a clear strategy to boost accessibility without compromising the premium experience. Is Now the Right Time to Buy? For luxury EV enthusiasts, the latest Mercedes EQ prices represent a compelling opportunity. Both EQE and EQS models feature high-end interiors, Mercedes' MBUX infotainment system, and competitive driving ranges. With lower entry points, the EQ range now appeals to a wider demographic previously priced out of the market. What's Next for the Mercedes EQ Lineup? These price reductions do not signal retreat but rather a realignment. Mercedes is preparing to launch its new electric architecture in 2026, which will deliver enhanced range, faster charging, and a more dynamic driving experience. Alongside this technological evolution, the brand plans to revisit its design language, bringing it closer to the timeless elegance of the S-Class and E-Class while maintaining the advanced identity of the EQ brand.
The Sun
2 days ago
- Automotive
- The Sun
New cheapest EV in Britain revealed as Tesla rival knocks £1,500 off price of compact city car
A NEW Chinese electric vehicle has grabbed the crown as Britain's cheapest EV – knocking its rival off the top spot with a surprise price cut. The Leapmotor T03 city car is now on sale for just £14,495 after the manufacturer slashed £1,500 from the original list price. 5 5 That makes it £500 cheaper than the Dacia Spring, which had held the budget EV title for the past year at £14,995. The price drop applies immediately across the UK as Leapmotor looks to get ahead of the Government's new Electric Car Grant, which is set to come into force next month. The firm, which now sells its models through Vauxhall and Peugeot showrooms as part of a deal with European giant Stellantis, says it is offering customers an instant saving while the official subsidy remains weeks away. Based in China, Leapmotor is also cutting the cost of its larger C10 SUV by £3,750. The new price tag of £32,750 puts it well under the Government's £37,000 grant threshold. Both cars qualify for 0 per cent finance deals and come with long warranties — four years on the car and eight years on the battery. Transport Secretary Heidi Alexander confirmed the Government's new scheme on Monday. The Electric Car Grant will offer between £1,500 and £3,750 off qualifying electric vehicles, depending on how sustainably they are made. However, it's not available yet, as carmakers must apply for approval — a process that could take weeks. That's left firms like Leapmotor in limbo. The brand says its 'Leap-Grant' is a proactive move to give drivers savings now, before the Government scheme kicks in. Managing director Damien Dally said the company wants to give drivers clarity, confidence and immediate savings. But questions hang over whether Leapmotor — and other Chinese EV makers — will qualify at all. To get the full Government grant, manufacturers must meet green targets under the Science-Based Targets initiative, a framework that rates the environmental impact of vehicle production, including energy use at factories. Transport Minister Lilian Greenwood has warned that vehicles made in China may not be eligible. Speaking on the BBC's Today programme, she said factories powered by coal are unlikely to meet the Government's strict criteria. She added that only brands reaching minimum environmental standards will be approved for taxpayer support. This has sparked tension with the Chinese government. A spokesperson for the Chinese embassy in London said the UK must follow World Trade Organisation rules and avoid discriminatory policies. They warned they are monitoring the situation closely and would defend the rights of Chinese companies. 'It swallows up the potholes and the bumps' cries car dealership owner over popular motor brand ideal for the countryside Even BYD — China's biggest EV manufacturer — has confirmed it is applying for the grant but, like Leapmotor, has yet to hear back. There's also doubt over the Dacia Spring's eligibility. Although Dacia is a Renault-owned brand, the Spring is built in Wuhan, China, at a joint venture facility shared with Dongfeng Motor Group. Seven low-cost electric cars expected to benefit from the grant — including the Dacia Spring, MG4, Peugeot e-208, Fiat 500e and Volkswagen ID.3 — though most will only get the lower £1,500 discount unless they can prove greener production credentials. But with the Government now focusing on sustainability standards, many of those could also miss out on the full grant unless their makers can prove they meet the green benchmarks. Tax payers are, however, footing the bill for the £650million subsidy scheme, including for EVs leased through Motability, prompting criticism from some quarters. Commentators have questioned whether public funds should be used to make new cars cheaper for wealthier drivers at a time when many families are struggling to afford food. The Government is also promising £63million to improve the UK's public charging infrastructure and £25million to help people without off-street parking charge their EVs at home. But even Transport Secretary Heidi Alexander admitted she doesn't currently drive an electric vehicle herself, citing the cost. For now, Leapmotor is pressing ahead with its own incentive. The T03 is being offered on a four-year personal contract purchase plan at just £169 per month with a £169 deposit. The larger C10 SUV comes in at £319 per month, also with a matching deposit and 0 per cent APR. Both offers run until 30 September. Whether the brand qualifies for official Government support or not, Leapmotor has made its move — and, for now at least, it means Britain's cheapest electric car is Chinese, costs just under £14.5k. 5 5 5
Yahoo
3 days ago
- Automotive
- Yahoo
A Clear Sign Just Emerged That Tesla Is Panicking
Tesla sales are so abysmal in Canada that Elon Musk has made the drastic choice to dramatically lower the price of the new Model Y as it attempts to climb out of the hole. As Electrek reports, a Model Y in Canada now costs $65,ooo CAD ($47,465 USD), which is a cool $20,000 CAD cheaper than it was just a few days prior. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You We'll get into the hows and whys in a second, but first some backstory. Earlier this year, after Trump raised the specter of tariffs against its northern neighbor, Canada moved to impose its own 25 percent counter-tariff on all American cars, as retribution to the second-time president, who's also agitated the Canadian public by claiming he wants to annex the country, straining the historical allyship between the neighbor nations and causing that country's residents to view the US as an "enemy." Caught in the middle of this foolhardy trade and culture war was Tesla, which raised the price of the Model Y in Canada to $84,990 CAD from $64,990. As Electrek notes, that price hike brought the cost of the car up to the equivalent of about $61,500 USD, a figure $20,000 USD higher than the long-range all-wheel drive version in the states. As one might guess, nobody in the Great White North wanted to spend that much on a vehicle that had been cheaper ahead of the tariffs, and that's without getting into Musk's then-bromance with Trump — and thus, Tesla's sales cratered. In late March, Electrek reported that company sales dropped a whopping 87 percent in the province of Quebec, which theretofore had been considered an important market for the electric vehicle-maker. Given all that context, it undoubtedly came as a shock for Canadians to learn that Tesla had slashed the Model Y price so significantly. It appears that the cost drop stems from the company sourcing its Canadian Model Y deliveries from its German Gigafactory — but as Gizmodo flagged, that model is the only one that's seen any price reductions in Canada so far. Looking through Tesla's pricing on its Canadian website, one can now see that the Model 3, conventionally its cheapest vehicle, now runs for just under $71,000 CAD — nearly $6,000 more than the larger Model Y costs under the new pricing scheme. This is likely due to those cars still being shipped from the US, which makes them subject to Canadian counter-tariffs. Reading between the lines, this dramatic new sales gambit suggests that Tesla is not only aware of how bad things are for the company in Canada, but also that it's willing to do something crazy to try to turn the ship around. Given that Musk recently tweeted that "Canada is not a real country," it seems downright preposterous that he's chosen to switch it up this much — but then again, global Tesla sales have declined so significantly thanks to Musk's asinine politics that it's no wonder it wants to recoup. More on Tesla sales: Tesla Is in Serious Trouble in China Sign in to access your portfolio
Telegraph
4 days ago
- Automotive
- Telegraph
Chinese carmaker slashes prices to match Labour grant
A Chinese electric carmaker is lowering the cost of its vehicles sold in Britain by copying new subsidies offered by Sir Keir Starmer's Government. Leapmotor, based in Hangzhou, is ineligible for Labour's Electric Car Grant scheme after the Government blocked Chinese carmakers from accessing the discounts because their cars were not made in an environmentally friendly way. But on Friday, Leapmotor said it would offer a £1,500 and £3,750 price reduction on two of its cars – the same amount as the UK government grants. The Chinese business will sell its small T03 runaround for £14,495, including the £1,500 price cut. This makes it Britain's cheapest electric motor after undercutting Dacia's £14,999 Spring, which is also made in China. The company also lowered the cost of its C10 SUV by £3,750. The car now costs £32,750. Leapmotor billed the price cuts as 'Leap-Grant' and said it had introduced the offers to 'help car buyers make the leap into electric by offering immediate savings'. The business, which builds its cars in China but sells them in Europe in a joint venture with Vauxhall-owner Stellantis, said the government grant scheme had 'left many potential car buyers in a state of limbo – unsure of when or how to take advantage of the promised incentives'. 'Consumers are still waiting to learn which vehicles will qualify, how much financial support will be available and when the grants will take effect.' Labour's electric car grant scheme comes as Chinese EV brands flood the UK market, with the launch of cheap models from businesses including BYD, Chery and Jaecoo. While the grants will offer discounts on electric cars worth up to £37,000, the Department for Transport officials do not intend to extend the subsidies to Chinese-made cars due to the industry's reliance on fossil fuels. Lilian Greenwood, the transport minister, this week said: 'The grant is restricted to those manufacturers that reach minimum environmental standards. 'Frankly, if you generate a lot of the electricity that powers your factory through coal power stations, then you are not going to be able to access this grant.' The decision prompted a warning from the Chinese embassy, which said it would 'resolutely safeguard' the interests of its electric car industry against potential discrimination. The world's largest EV maker, BYD, said it planned to apply for the discount scheme despite the likelihood it would be rejected. The discounts by Leapmotor threaten to fuel a price war for battery-powered cars in the UK, which could mirror a similar battle in China.
