While Chinese automaker Chery begins delivery of its latest premium battery-electric vehicle it also announces purchase tax breaks, trade-in subsidies and auto finance discounts of several of its internal combustion engine vehicles.
The move, a response to the hectic vehicle price war waging in the country, comes just as the Luxeed S7 electric sedan, developed jointly with telecoms tech giant Huawei, begins mass delivery after a shortage of semiconductors and production issues caused delays, Reuters reports.
Among Chery's combustion models eligible for sales incentives from today are the Tiggo 8 Pro champion edition, Tiggo 9 and Arrizo 8 high-performance edition, the automaker says in a statement on its WeChat account. Orders of Tiggo 9, the champion edition of Tiggo 8 Pro and Tiggo 8 Plus would be entitled to limited-time purchase tax giveaways, in addition to trade-in subsides of up to 20,000 yuan ($2,767) and auto finance discounts of up to 5,000 yuan ($692). Chery also announced cash discounts on Arrizo 8 high-performance edition and off-road SUV Discovery 06 of up to 15,000 yuan.
The scheme aims to level the playing field for ICE products following the Chinese government’s tax breaks hand-out for BEVs last year lasting over four years through to 2027 capped at 30,000 yuan ($4,149) per vehicle. Combustion vehicles are not subject to such breaks.
