Automakers in China have been offering huge discounts since the end of the year 2022 but things have gone dramatically insane during the last couple of weeks.
First, it was Dongfeng Motor’s joint-venture brands that significantly slashed the prices. This was also regarded as the strongest car purchase discount in history, covering Dongfeng-Honda, Dongfeng-Nissan, Dongfeng-Fengshen, Dongfeng-Peugeot, Dongfeng-Citroen, and other brands. The prices of Dongfeng models dropped by as much as 98,000 yuan ($14,190).
Related: Angry Tesla Owners Protest Against Surprise Price Cuts in China
After that, other automakers including BMW, Mercedes-Benz, Audi, Tesla, Chevrolet, Volvo, Nissan, Volkswagen, and other brands also followed suit. According to unofficial statistics from the Chinese motoring media, thus far at least 30 automotive brands have joined this price war.
But the most interesting among all discounts is being offered by a FAW-Toyota dealership— which is a “Buy One Get One Free” offer. According to reports, a 4S dealership named Shenzhen Zhongsheng Minkang Toyota directly launched a promotional activity that offers to buy a Toyota bZ4X electric SUV and to get a Vios sedan absolutely free. This amazing offer is valid till 31st March 2023.
Related: Toyota Slashes the bZ4X EV Prices in China
What’s the reason behind this unprecedented activity? Well, it’s the upcoming implementation of the China VI-B emission standards. According to Cui Dongshu, the Secretary General of the Passenger Car Association of China, the drastic price cuts by car companies are closely related to the inventory clearance of China VI-A compliant models. From 1st July 2023, cars that are not compatible with the China VI-B standards cannot be sold, registered, or even licensed.
Analysts predict that as the implementation date of the stringent China VI-B standards approaches, car companies will accelerate the clearance of old models, and prices may also get even lower.
A 3d animation professional with over 20 years of industry experience having served in leading organizations & production facilities of Pakistan, an avid car enthusiast and petrolhead with an affection to deliver writings to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com