Chinese major automakers SAIC-GM-Wuling and Changan Automobile are offering steep festival discounts for their electric vehicles in the hope of boosting demand as the world’s biggest car market is expected to see a seasonal demand lull during the Lunar New Year holiday season. General Motors’ China joint venture said on Thursday that prices for its small, affordable Wuling Bingo EVs would be reduced by up to RMB 8,000 ($1,112) by the end of March, representing a discount of 10% from previous prices. Meanwhile, the starting price for the Deepal S7 all-electric sedan, a midsize crossover launched by state-owned Changan, was reduced by RMB 10,000 to RMB 169,900. Sales of new energy passenger vehicles, including battery EVs and plug-in hybrids, declined by almost a third to roughly 668,000 units in January from December, according to figures published by the China Passenger Car Association. The industry group warns China to report its lowest EV sales figures over the year in February, as the week-long Spring Festival holiday that ends on Saturday cut working days and limited buying interest. [TechNode reporting, Wuling and Changan announcements, in Chinese]
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