Chinese EV Makers Launch Preferential Policies During Double 11 Shopping Festival

With the arrival of the “Double 11 Shopping Festival”, many Chinese automobile companies, such as Leapmotor, NETA Auto and AITO, have launched preferential policies with values as high as 13,000 yuan ($1,793) for vehicle purchases through their online or offline sales channels.

Data provided by Alibaba‘s Tmall shows that on October 31, the turnover of Leapmotor and Great Wall Motor’s Ora greatly exceeded that of the same period last year. In addition, the sales of many auto parts stores has also increased significantly. The Double 11 Shopping Festival is becoming another critical period for the automobile industry to hit their annual sales targets.

According to Time Finance, Leapmotor has issued coupons valued at 12,000 yuan and 6,000 yuan to customers of the company’s C11 and T03 models respectively. The two types of coupons can be used when the owners or their relatives and friends purchase a Leapmotor car from November 1 to November 13.

Great Wall Motor’s Ora has launched incentive activities such as insurance subsidies of 4,000 yuan or 5,000 yuan, while offering a deal in which a deposit of 2,000 yuan will be worth 6,000 yuan for buying a vehicle, and a lucky draw. In addition, Great Wall Motor is also conducting live-streaming promotions on Tmall, Douyin and other platforms.

In terms of offline stores, an automobile salesperson from a Huawei store in Beijing told Time Finance that when buying AITO models in the store during the Double 11 Shopping Festival, consumers can enjoy an insurance deduction discount of 5,000 yuan and an optional discount of 24,000 yuan.

In the past October, NETA Auto, AITO, Zeekr, Li Auto and NIO delivered over 10,000 vehicles. According to the preliminary statistics of the China Passenger Car Association, the wholesale sales volume of new energy passenger vehicle manufacturers in China reached 680,000 vehicles in October this year.

SEE ALSO: NETA Auto Led China’s EV Market in October

Some insiders said that the Double 11 Shopping Festival has become a key time point for automobile enterprises to promote sales. At present, the companies focused on automobile sales through online and offline channels, which is beneficial for them to boost overall sales volume at the end of the year.

In fact, before the shopping festival began, many automobile companies launched various forms of promotional activities. On October 24, the prices of Tesla Model 3 and Model Y models on sale in Chinese mainland were adjusted, with a drop of between 14,000 yuan and 37,000 yuan. In October, AITO also began to give out insurance plans worth 8,000 yuan to some customers.