In a new promotion, Volkswagen's joint venture in China, FAW-VW, has drastically cut prices on the ID.4. The electric SUV now starts at 145,900 yuan ($20,060).
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When Volkswagen launched the ID.4 in China in January , it debuted with a price tag of 193,900 yuan ($26,700).
The German automaker does business in the region through two joint ventures (JVs) ' SAIC-VW and FAW-VW. The business alliances sell two versions of Volkswagen's ID.4 and ID.6 electric models.
When VW launches a new model, often, both JVs will produce it in China under different model names.
While FAW-VW produces the ID.4 CROZZ and ID.6 CROZZ, SAIC-VW sells the ID.4 X and ID.6 X. They also recently launched the ID.Next (SAIC-VW) and ID.7 Vizzion (FAW-VW) electric sedans.
Volkswagen's JV with FAW announced the ID.4 price cuts (via Car News China) in China as the world's largest EV market heats up with new competition and pricing pressure.
Built on Volkswagen's MEB platform, the ID.4 is offered in two variants ' RWD and four-wheel drive. The ID.4 Crozz is offered with 425 km, 554 km, 600 km, and 442 km CLTC range options.
Volkswagen ID.4 Crozz and ID.4 X (Source: Volkswagen China)The move comes after VW-SAIC significantly cut prices on the ID.3 electric car at the beginning of July. The 'historical low price' offer started at 125,900 yuan (around $17,500), down 16% from its original price.
Last month, Volkswagen announced the ID.3 gathered over 10,000 orders following the pricing promotion. ID.3 sales jumped from 1,819 units in June to 7,378 in July.
JanuaryFebruaryMarchAprilMayJuneJulyVW ID.31,,,,,,,378VW ID.41,,,,,,,031Volkswagen EV sales in China (Source: Car News China)Volkswagen's ID.4 deal is similar to the ID.3 promotion. The automaker claimed only 3,000 vehicles are eligible, but it will likely be extended. VW said it would cap the ID.3 deal at the first 7,000 but let it run until over 17,000 units were sold.
Although the price cuts did work to stimulate demand, how long can VW afford to offer these promotions?
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The lower prices are needed to keep up with rising competition from other automakers in the region, such as BYD and Tesla. However, unlike these two EV leaders, Volkswagen is not likely to turn a profit on these vehicles, especially at such low prices.
We'll keep you updated on the latest with Volkswagen's pricing strategy. Check back for more info.
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Volkswagen has significantly reduced the price of its ID.4 in China. The ID.4 Crozz version offered by the FAW-Volkswagen joint venture is now available from 145,900 yuan, the equivalent of around 18,500 euros.
When the ID.4 was launched in China at the beginning of , the price was still 193,900 yuan (currently around 24,600 euros), but later the model became slightly more expensive. The current price reduction for the ID.4 Crozz is limited to 3,000 units for the time being, but is likely to last beyond that ' as experience with previous 'discount campaigns', which were initially limited in time, shows.
When VW massively reduced the prices of the ID.3 in China in July (albeit in the SAIC-Volkswagen joint venture, which is officially an independent company), this was initially limited to 7,000 units, but after more than 17,000 ID.3s sold since then, it still applies today.
In July, FAW-Volkswagen also lowered the price of the ID.4 Crozz by 34,000 yuan to 183,900 yuan. Now it is another 38,000 yuan less, making the MEB SUV 72,000 yuan or the equivalent of 9,170 euros cheaper within a few months. In other words: since July, the ID.4 Crozz has become 33 percent cheaper.
FAW-Volkswagen also offers the larger MEB-SUV ID.6 Crozz, but the Chinese media do not mention any recent price reduction ' in the July promotion, however, the ID.6 Crozz also became 63,000 yuan cheaper and has since been priced from 195,900 yuan (24,950 euros).
Besides the ID.3 (without FAW-VW counterpart), SAIC-Volkswagen offers the MEB models ID.4 X and ID.6 X, which are identical to the FAW-Volkswagen 'Crozz' models except for a few optical details. However, the current discount campaign only applies to the ID.4 Crozz, not to the ID.4 X.
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