AutoBeta(AutoBeta.net)11/03 Report--

The smoke of the price war never seems to stop.

Near the end of the year, major car companies hope to rush sales in the last quarter of this year, even if they lose money, they also want to grab market share, especially near the "Singles Day". This way of price reduction and promotion has flooded into the automobile market. Car companies take advantage of the "double 11" national shopping festival, through concessions to maintain the hard-won market heat, to draw a successful end to 2024. On November 1st. No less than ten brands announced price reduction promotions to the public.

On November 1st, the polar krypton official announced that the limited time purchase policy for all extreme krypton models before the end of the month, including 0 down payment of 0 interest, government replacement subsidy, time-limited car purchase rights, the earliest day pick-up, etc., can save up to 110000 yuan. details are as follows: November 1-30 extreme krypton cars can enjoy time-limited financial concessions, purchase extreme krypton 001 and extreme krypton 007 models can enjoy 3 years 0 interest financial policy Purchase polar krypton 7X, polar krypton 009, polar krypton MIX, polar krypton X can enjoy 2 years 0 interest financial policy. In addition, they can also enjoy car purchase rights with a maximum value of 63200 yuan and government replacement subsidies with a time limit of up to 18000 yuan.

It is worth mentioning that on the same day, the new version of Polar Krypton X went on the market, further lowering the car purchase threshold. Among them, the retail price of the five-seat rear-drive version is 149000 yuan, and the retail price of the five-seat long-lasting version is 165000 yuan. In addition, the latest retail prices of the polar krypton X five-seat sports version and the four-seat Rubik's cube version are both 179000 yuan, 21000 yuan lower than the official retail price announced in July. Polar krypton said that the starting price of polar krypton X plus government replacement subsidy is 135000 yuan. According to the official time-limited car purchase rights announced by polar krypton, the purchase of polar krypton X before November 30 can enjoy zero down payment, zero interest and zero waiting benefits. Other entitlements include free matching of Su-Mo gray exterior colors (valued at 5000 yuan), a 7-kilowatt smart home piling package (10 meters) with a price reduction of 2200 yuan, and a government replacement subsidy of up to 15000 yuan.

From the official retail price of polar krypton, the new five-seat afterdrive version and five-seat long-lasting version can be regarded as the "entry version" and "low-end version" of the 2025 polar krypton X. Among them, the five-seat rear-drive version is equipped with lithium iron phosphate battery with a capacity of 49 kilowatt-hours (previously the whole system is standard with 66 kilowatt-hour ternary lithium battery), the CLTC operating range is 420km, while the five-seat long-lasting version continues to be equipped with a capacity of 66 kilowatt-hour ternary lithium battery, and the CLTC operating range is 560km, which is consistent with the range of the four-seat rear exorcism version.

In addition to extreme krypton, Geely brands have also launched a new car purchase policy. From November 1st to November 30th, Geely can enjoy the latest preferential policies for buying models such as Xingrui Oriental Yao, Xingyue L Oriental Yao, 4th Generation Dihao, Dihao L HiP, Xingrui, Boyue L, Hawthorne L, etc., with a maximum subsidy of 47000 yuan for replacement and a minimum "carnival price" of 50900 yuan. Take Dihao as an example, the subsidy of the fourth generation of Dihao is as high as 34000 yuan, and the preferential price is from 50900 yuan. The subsidy of Dihao L HiP is as high as 47000 yuan, and the price is 89800 yuan after the discount. In addition, the recently listed Xingrui Oriental Yao has a maximum subsidy of 35000 yuan for clunkers, and the "carnival price of a good car" starts at 99700 yuan. As a reference, Xingrui Oriental Yao went on the market on October 27th, with an instruction price of 99700 yuan. If calculated according to the above rules, the car does not currently offer cash concessions from manufacturers.

In addition to extreme krypton and Geely, brands including Great Wall Artillery, BYD, Wuling New Energy, Mengjie and Ian have also introduced new car purchase policies, but the discount range is much smaller than that of polar krypton and Geely brands. Take Wuling as an example, including Xingguang, Xingguo S, third-generation Hongguang MINIEV, Wuling colorful fruit, Wuling colorful fruit SUV, etc., offering cash discounts of up to 16000 yuan. Wuling Xingguang purchase ticket date should be before November 11, other models should be issued before November 30.

This round of promotional activities, in fact, the protagonist is a joint venture brand, offering far more concessions than independent brands.

On November 1, Dongfeng Honda issued a time-limited car purchase policy. From now on to November 30, Lingzhi L, Yingshi School, CR-V and Civic models can enjoy time-limited preferential policies, and can enjoy the state trade-in subsidy of up to 20, 000 yuan. Among them, Civic limited time comprehensive discount of 41000 yuan, limited time price from 95900 yuan. CR-V limited time comprehensive discount 50, 000 yuan, limited time price from 135900 yuan. The limited time comprehensive discount of Yingshi Group is 57000 yuan, and the limited time price is from 125800 yuan. In addition, Ling learns that L can enjoy the financial car purchase policy of 0 down payment / annual interest rate as low as 1.99%, and the optional version can enjoy a 5-year 0 interest purchase policy.

On the same day, SAIC GM Chevrolet announced time-limited prices for some of its models, including the Coruze, the explorer, the explorer Plus and the trailblazer, which are valid from November 1 to November 11. Among them, the time-limited price of the Cruze is 59900 yuan, which is 35000 yuan lower than the official guiding price. The Cruze is the highest selling model of the Chevrolet brand, but its monthly sales are basically about 2000, and it does not have a strong sense of existence in the compact car market. and the time limit of 59900 yuan may still have a strong attraction, after all, as a walking car is also a good choice.

Both SAIC GM brands, on the eve of the "Singles Day" promotion, Buick took the lead in attracting the attention of a large number of consumers with "mouthful price" and "preemptive price". On October 30th and 31st, Buick launched the LaCrosse 2025 platinum model and the new GL8 Luzun with a "one-off price" of 159900 and a "pre-enjoyment price" of 269900, a drop of 48000 compared with the old model.

Approaching "Singles Day", a number of SAIC GM models have offered large official discounts, among which Buick GL8 double 11 limited time discount has been as low as 197900 yuan, Buick E5 limited time price from 169900 yuan, the new generation Anke PLUS limited time price from 169900 yuan, Regal can enjoy 64000 yuan limited time discount, Weilang Pro can enjoy 78000 yuan limited time discount.

In addition, SAIC GM has also chosen to simplify the configuration of the new car. For example, the Buick Ankowei Plus shrank from six models of 2022 and four models of 2023 to three models of 2024, and cancelled 1.5T power and upgraded 2.0T power.

This price strategy is gradually being tested in the market. According to SAIC GM's latest sales figures, its terminal sales in October were 58240 vehicles (including exports), up for the fourth month in a row. SAIC GM's cumulative terminal sales of 533152 vehicles from January to October have shown a warming trend as a whole.

In addition, including FAW-Volkswagen, FAW Toyota also announced car purchase policy. Among them, FAW-Volkswagen will launch time-limited prices for Bora, Maiteng 2 million public models and Tan Yue models from now on to November 17. At the same time, FAW-Volkswagen has launched a trade-in subsidy policy for many of its models from now on to November 30, with a subsidy of up to 31000 yuan (including state subsidies). FAW Toyota will enjoy a maximum of 23000 yuan in state subsidies and manufacturers' subsidies from now to November 30, with Grevia, Asian Dragon, Prado, Crown Lufang, RAV4 Rongfang and HEV models participating in the event.

Compared with previous years, this year's "Singles Day" is indeed a lot of lively, which also intensified the pressure of competition in the market. Although major brands emphasize cautious participation in the price war, non-participation may lead to the loss of brand share in the face of increasingly "immoral" market pricing by competitors, and this way of price reduction and promotion is particularly important in the critical fourth quarter, after all, it is related to the achievement of the annual sales target.

As far as the market is concerned, the activities launched by the joint venture brand are more powerful because the new energy transformation and development of the joint venture brand are facing challenges, resulting in the embarrassing situation that oil cars are difficult to sell and trams are not popular. From the perspective of the car purchase rights issued by the major joint venture brands, the overall benefits are mainly comprehensive concessions, superimposed with 0 down payment / 0 monthly payment / 0 interest rate, as well as trade-in or additional purchase subsidies, which seems to be particularly large. However, as independent brands continue to increase price competition, it is also unknown how much room for joint venture brands can grow.

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