All About China's EV Price Wars!

[@AprezaRenaldy]

7:45Unless it is a state-owned company

[@charlesyeeh]

Another awesome episode, Ethan! 👍 Great host and guest. I love the Wheelboy channel. It has always been creating high quality videos, with facts and information instead of bias or BS. Thank you! I honestly believe that you deserves 10X subscribers and viewers. Keep up the great work!

[@jasonmugridge]

Looking forward to the price wars arriving at UK shores where we've been fleeced for the past 25+ years.

[@arminius6506]

Your politicians are whining and begging Chinese companies to increase the price to save VW

[@iWantPeace838]

Aren't they talking about "overcapacity"? It seems to be a welcomed thing.

[@etbadaboum]

Thanks for the great exchange! I have so much questions about the Chinese car companies: what are their financial situations? How the central and local government see this price war? How the suppliers are handling this? And even about the wages for workers?

[@jimmychoi5219]

Great talk 👍👍👍

[@samalias6784]

NIO is going after every EV company with a bazooka aka ONVO…

[@eden5260]

Boring car nothing interesting there

[@ashk4155]

@@eden5260lol Onvo released on a Tuesday model y production cut the week after. Nothing exciting there!!!

[@iWantPeace838]

To me, it's Darwin's theory at work currently. The first wave of car makers going down saw the subsidy grabbing ones gone. Now it's time for the poor performers to go. It's a necessary and good thing for a healthy market. I will look at buying a car within this 73 days. LOL

[@kirolosmourad]

As for Nio: i believe offering promotions are reversible/stopped easier than MSRP cuts when price war is eventually over without pissing off as many previous owners towards 2nd hand sales.

[@ChinaDriven]

It's true they are reversible or mostly a "limited time" promotion. Its easier to go down then it is back up. My point was simply NIO is also engaging in the "price war" even if they are not doing direct price cuts. As I said there's more then one way to skin a cat.

[@wheelsboychat]

That's a fair point!

[@Eric_Garrison]

Highland in Shenzhen … think I’ve seen maybe 5 since release. Seems to have performed pretty poorly down this way.

[@honesty_-no9he]

Comparing the China market base BYD SEAL with the base MODEL 3 is stupid. In the UK we have two versions of the SEAL RWD and AWD which I presume are the mid and top versions in China. Seal over MODEL 3 any day for me.

[@tren133]

Problem for Tesla is not just the Seal, and the Seal is merely okay. You've got new cars coming out like the Zeekr 007 and especially the super hyped Xiaomi SU7 which are even MORE compelling. Tesla is gonna have to export a lot of their Chinese built Model 3s from now on. And that was still okay for Tesla for a little while because the Model Y is their golden goose, but now all the Chinese EV makers are releasing model Y competitors too. Just take BYD for example, after the Seal came out, BYD has released FOUR different models all of which can be cross shopped against the Model Y, the Denza N7, BYD Song L, BYD Sea Lion, and also the FCB Bao 5. Before Tesla can cut prices in China and still grow sales form it, but now their China sales have stalled and may even be falling a bit. That's going to be a real big problem for a carmaker who essentially just makes two volume selling models.

[@stephenodonohue9876]

Hey Ethan, love the channel (though thank goodness you rid yourself of those horrid bum bags... fanny means something quite different in the rest of the world). Just a comment (not important). During your chat, the movement in the background shows up on your orange screen. Downgrades the quality a bit.

[@wheelsboychat]

Thank you for the feedback, even if we completely disagree about fanny packs (I know what it means in the rest of the world, trust me). We noticed the reflections in the screen as well, and will try to find a way to avoid it in future videos!

[@TalismanPHX]

Cadillac Lyriq at a 25 percent discount..... wow. Thats a great value 😅

[@CNFZCL]

Lyriq without dealer discount starting from around $40k in China😂😂😂

[@jimmychoi5219]

Great value but still an ugly car 😂😂😂

[@4literv6]

Love how these muppets completely left out every other oem does the exact same thing in regards to pricing the Ford lightning comes to mind. Announced officially in June 2021, started deliveries in late May of 2022, between then&now the trim prices have varied by 25-45% or more! I've sold&financed cars plus owned over 80+vehicles so far, so I'm intimately familiar with the games played from both sides of the table! And they ignored Renault dropping their most popular ev by up to 25k recently, Peugeot dropped prices 5-15k recently, polestar dropped their prices by up to 25k depending on the model. But crickets because elon=tesla the world's true pure ev sales leader&that's somehow bad! 😀 Studies show evs are considered to be premium segment vehicle sales and when you back out the tax credits&incentives available? They depreciate just like premium gas guzzlers do! So 18-25% of value gone in that first 12 months and up to 10% more lower a year for every year afterwards. So plan accordingly&lease or at least realize what you are buying beforehand. I'd personally recommend you lease any new ev for the next 3+year's at least(battery tech and specs along with charging times are changing almost like smartphones&computers do. The semi solid state cells and solid state cells for higher end ev stuff is gonna shake up the market starting later this year&going into 2025 for semi solid state cells and then again in 2026-2028 for early solid state. While lmfp&m3p cells will go into most mid range evs and the low end is gonna get basic lfp and sodium cells as is already the case in China. So unless you know how to negotiate really hard, get all additional incentives, buy at the right time when dealers are moving metal and can afford to move in&out of a car every 2 years or so. Just lease it or buy it and drive it for 5+year's before trading in again.👍🏻

[@wheelsboychat]

I appreciate that you seem to have an intimate knowledge of buying cars in your home market, but a majority of your very long comment isn't relevant to our discussion. Neither the Ford Lightning or Renault are available in the Chinese market, so why would we bring them up in a discussion of the the price wars in China? We also said we would use BYD as an example, but we mentioned quite a few other brands that are dropping prices (such as Mercedes-Benz). We cannot go through every OEM, because the key takeaway is they are ALL forced to do so. We brought up NIO simply because they decided to state they wouldn't price cut, and instead found other more creative ways to "increase the value propositions" The catalyst for this was Tesla dropping prices. It's not an "Elon is a bad man" take, you're just throwing up a straw man argument. Tesla China cut prices in response to waning demand, the Chinese market responded and now it’s in a downward spiral, with new cars coming out that we KNOW are being priced under what OEMs planned to sell them at. How do we know? We attend launch events for cars nearly every week, and that's what we are being told directly by the leadership at these companies. I agree with your recommendation to lease electric vehicles due to the heinous depreciation that they incur, but the option to lease privately in China is nearly nonexistent, so again, it's not relevant to this discussion about the CHINESE CAR MARKET. In summary, I appreciate you taking the time to watch and comment on our video, but you really ought to pay more attention to the context. Otherwise, you'll end looking like, you know, a muppet.

[@ChinaDriven]

@@wheelsboychat I dunno, from one muppet to another, maybe next time we can include any price cuts happening in the Ethiopian EV market. At least they are importing EV models that actually exist in the Chinese market... I do agree leasing would be a nice option to have. But just doesn't seem like it's really available for private consumers. Commercial EV lease deals are common in China though. I do know the States love their leasing, and it's very well advertised to consumers.

[@Eric_Garrison]

Please discuss the muppets and the muppet babies next show in addition to Ethiopian markets. Need to expand your viewer base

[@ykdz3115]

u do realize that Chinese EV market counts half of the entire world and MERIKA isn't quite center of the universe right?

[@iWantPeace838]

@@ChinaDriven I have the funny feeling that the guy doesn't know that, cars are running on Ethiopian roads.