VW slashes ID.3 prices in China
VW has significantly reduced the prices of its ID.3 electric models in China, officially as part of a limited offer. The two variants of the ID.3 offered by the SAIC-Volkswagen joint venture now cost 22.7 per cent and 21.9 per cent less than before.
The new prices of the ID.3 are 125,888 and 149,888 yuan, respectively, equivalent to around 15,800 and 18,900 euros. However, the price reductions for the ID.3 only apply in July so far and are limited to 7,000 units. Outside the campaign, the list prices are 162,888 and 191,888 yuan, respectively. VW only offers the ID.3 in China through its joint venture with SAIC. According to the SAIC-VW website, however, the ID.3 offered in China is still the model from before the update presented in spring (for Europe). It is likely that the July discount campaign is a sell-off before production is adjusted.
The electric models ID.4 Crozz and ID.6 Crozz offered by VW and FAW have become cheaper and are now available from 183,900 yuan (34,000 yuan less) and 195,900 yuan (63,000 yuan less), respectively. Again, this is officially a discount promotion to celebrate FAW’s 70th anniversary. The corresponding models from SAIC-Volkswagen, the ID.4 X and the ID.6 X, are not currently subject to a discount campaign. The ID.4 X starts at 195,888 yuan, the ID.6 X at 259,888 yuan.
After there had been a real price war in spring 2023, triggered by a massive price cut at Tesla in January, the situation stabilised again in recent weeks (especially for the mid-sized SUVs).
The China Association of Automobile Manufacturers (CAAM) and 16 carmakers recently signed a declaration in which the latter pledged “not to disrupt the fair order with abnormal prices.” However, the CAAM withdrew the statement shortly after, as it was “inconsistent with the principles of China’s anti-monopoly law.” SAIC and FAW had signed this declaration, but Volkswagen had not.
By the way, this “price truce” in China was also short-lived for other manufacturers. Tesla also reintroduced cash rebates for newly recruited Model 3 and Model Y drivers at the end of last week.