To make it more competitive and make it easier for consumers to buy the newest model. Mercedes-Benz has officially cut the prices of EQE and EQS models in China.
However, some analysts predict a price war in the coming months could ensue, with industry-wide sales projected to slow amid weaker consumption and tougher competition.
Not only Mercedes-Benz, Huawei-backed AITO cuts prices of M5 and M7 in China. Meanwhile, Tesla, cut prices by up to 9 percent.
Meanwhile, sales of the four electric vehicles affected by Mercedes-Benz's price cuts accounted for 3 percent of total sales in China in the first eight months of 2022.
The price of the EQE model was cut by 9 percent, and the price of the EQS luxury limousine was reduced by 11 to 22 percent.
“The high-end electric vehicle segment in China is still developing. Mercedes-Benz is repositioning certain EQ models in China,” said a Mercedes-Benz spokesperson.
Mercedes-Benz itself will offer subsidies through dealers to consumers who buy the car before the price adjustment.