article thumbnail

CAAM calls for return to normal order in China's auto industry as price war disrupts sector

CN EV Post

Reducing prices to deal with inventory and properly recover costs are normal business practices, but these tactics should not turn into price wars, the CAAM said. Image credit: CnEVPost) The price war is one of the most talked-about topics in China's auto industry this month, creating operational challenges for many car companies.

article thumbnail

India’s auto industry will hit Rs 25 lakh crore target before time: Vinod Aggarwal | Autocar Professional

Baua Electric

Auto industry veteran Vinod Aggarwal isn’t just highly optimistic about India’s auto market — he has utmost faith that the sector will achieve its Rs 25 lakh crore target with ease, that too well before the proposed deadline of 2027-28.

article thumbnail

NIO keeps goal of doubling sales this year despite price war causing greater challenges

CN EV Post

NIO (NYSE: NIO) is confident it will see sales double this year, despite a rare price war that disrupted the Chinese auto industry in the first quarter. The price war has had a big impact on the auto industry, and NIO will not follow suit. In the short term, NIO will face some pressure as a result, he said.

Price 145
article thumbnail

Chery's NEV unit cuts vehicle prices by up to 10%

CN EV Post

Image credit: Chery New Energy) Chinese auto giant Chery's new energy vehicle (NEV) division has slashed the prices of several models, becoming the latest car company to do so. Chery New Energy announced today that official guide prices for three of its NEV models has been cut by up to 9,000 yuan ($1,310) starting at 00:00 on March 27.

Chery 111
article thumbnail

Euro 7 emissions same old to price again and again EU forecasts, ACEA says

Baua Electric

Proposed Euro 7 emissions rules will top to direct prices for automakers which might be as much as 10 instances upper than the Ecu Fee’s forecasts, business lobbying staff ACEA stated, mentioning a fresh learn about. ACEA stated the rise in costs for shoppers and corporations purchasing the ones automobiles could be even upper.

Price 52
article thumbnail

European Auto Industry Expresses Concern Over Iron Ore Price Hikes

Green Car Congress

The European automobile industry expressed concern about the “ sudden and massive ” increase in the price of iron ore, a crucial material for producing steel. The leading iron ore exporters announced on 30 March steps to raise their prices by more than 80%.

article thumbnail

China to allow extended sales periods for ICE models based on existing emissions standard, report says

CN EV Post

Price war has been the most talked about topic in China's auto industry this month, and the imminent implementation of a new emissions standard is seen as a major factor. This was seen as the beginning of the massive outbreak of the price war.

Standards 121