Mercedes-Benz Cuts Some Electric Vehicle Prices in China

According to Mercedes-Benz it had cut prices on some of the company’s EQE and EQS models in China, citing continuous change in market demand for top-end electric vehicles. Foreign automobile companies are struggling to break into the Chinese electric vehicle market with only Tesla able to achieve higher sales figures.

The retail price for the EQE crossover vehicle was cut by 9 percent, and the price of the luxury EQS limousine by 11-to-22 percent, said according to Mercedes-Benz. A Mercedes-Benz spokesperson said that the top-end electric vehicle segment in China is still evolving, and the company is repositioning several EQ models in China.

The premium automobile producer will offer subsidies through dealers to the buyers who purchased those cars before the company made adjustments. Mercedes-Benz had not expected increasing sales in China for the EQS, whose design was geared more towards the US and European customers.

The spokesperson added that, Mercedes-Benz had high hopes for the EQS-SUV because it was better suited for high-end customers in China who are likely to be driven by a chauffeur, which is why they prefer more space and headroom in the back of the car.

According to the China Passenger Car Association, Mercedes-Benz has sold 11,327 electric cars in China from January 2022 to August 2022, compared with Tesla which sold around 400,000 EVs, and BYD that sold nearly a million cars in the country.