After Beijing’s call to end a brutal price war, EVs priced around US$13,888 have become the choice for budget-conscious consumers
Chinese electric vehicle (EV) makers Leapmotor and Xpeng reported record sales last month, spurred by the popularity of their inexpensive cars, as a price war faded following Beijing’s intervention to cool the market.
“The two carmakers maintained their strong momentum because their vehicles were highly competitive in terms of both pricing and technological strength,” said Tian Maowei, a sales manager at Yiyou Auto Service in Shanghai. “Most consumers are opting for cheaper models due to worries about job prospects and wages.”
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