Toyota has reduced the price of its electric SUV, the bZ4X, in China just a few months after its launch. The automaker’s joint venture in the country, GAC Toyota, announced a price cut of 30,000 yuan, bringing the starting price down from RMB 199,800 to RMB 169,800.
The limited-time offer also includes low-interest loan options and trade-in subsidies. The bZ4X is based on the e-TNGA architecture and comes in two-wheel and four-wheel drive versions, with different power and battery capacities. The model was launched on October 10, 2022, with a price range of RMB 199,800-287,800.
Before its launch, Japanese regulators found potential safety issues with the bZ4X, causing Toyota to recall over 2,700 vehicles. However, the company has since addressed the problem.
See also: Toyota bZ4X electric SUV ready for sales launch across Europe
Toyota is following Tesla’s recent price cut in China, which saw a significant reduction in the cost of all its China-made models, including the Model 3 and Model Y. Other car companies, including XPeng, NIO, and AITO, have also reduced their vehicle prices or offered purchase discounts.
Analysts predict that these price cuts will drive sales in the coming months, although it remains unclear if Toyota’s latest move will have a significant impact on sales.
