Neta Auto, the electric vehicle subsidiary of Hozon Auto, has set a bold target of doubling its sales in 2023. According to China Securities Journal, the company is aiming to sell 300,000 units this year.
Last year, Neta recorded sales of 152,073 units, a growth of 118% from the previous year. This included deliveries to international markets, with 3,456 units exported. If Neta meets its goal, the growth rate for 2023 would be 97%, surpassing its cumulative sales since its launch. As of the end of January, the company had delivered a total of 254,065 vehicles.
See also: Neta Launches Neta S electric sedan, price start at $29,610
The company is making changes to its supply chain in response to the lack of capacity for its flagship sedan, the Neta S. This model, which was officially launched in China on July 31, 2022, is Neta’s first to target the premium market and now has a starting price range of RMB 202,800 ($29,893) to RMB 341,800.
Neta is aiming to double its sales this year and follows in the footsteps of Geely’s electric vehicle brand, Zeekr, which aims to sell 140,000 vehicles in 2023. However, slowing economic growth and competition from Tesla and other local EV makers is putting pressure on Chinese car companies. On January 4, Neta raised the prices of all its models, but two days later, Tesla sharply cut the prices of all its China-made models, leading XPeng and AITO (backed by Huawei) to follow suit.
See also: Neta to Introduce Electric Vehicles Featuring CATL’s Skateboard Chassis in 2024
Neta delivered 6,016 vehicles in January, a decrease of 45.35% from the same month last year. The company announced that consumers who make a RMB 5,000 deposit for the Neta S can now use it as RMB 20,000 when making the final payment.
