A recent domestic price war in China has led to a significant drop in vehicle prices, prompting dealers to seek government intervention. Meanwhile, Chinese carmakers are reducing prices in overseas markets to stay competitive, as evidenced by customs data.
The export value of Chinese electric vehicles (EVs) increased last month, but at a lower rate (3.73%) than the growth in the number of units exported (10%). This has resulted in a 5.74% year-on-year decline in EV prices and an 11.67% drop over the first eight months.
This trend is particularly noticeable in the European Union, where a trade investigation on imported EVs from China is ongoing. Despite a slight increase in EV export prices to the EU in August due to provisional tariffs, overall prices dropped by 10.56% compared to the previous month.
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