Recently, affected by the rise in raw materials and the decline of subsidies, new energy vehicles have set off another round of "price increases". Since March, following the official price increases of Tesla, BYD and Nezha Automobile, from March 17 to the evening of March 19, Xiaopeng Motors, WM Motors, Zero-run Cars and Geometry Cars have also joined the camp of the price increase army.
It is reported that the intensive price increase of new energy vehicles is a new round of price increases after the first collective price increase in early 2022. According to incomplete statistics, since the beginning of this year, more than 20 car companies have raised the prices of nearly 50 models. Among the major new energy vehicle companies, only a few such as Weilai Automobile, Ideal Automobile, and Lantu Automobile have not yet announced price increases.
Late on the night of March 15, BYD Automobile released a note on the price adjustment of the model on the official Weibo, saying that due to the continuous sharp rise in raw material prices, BYD Automobile will adjust the official guidance price of new energy models related to Dynasty Network and Ocean Network, ranging from 3,000-6,000 yuan. The price adjustment will take effect from 00:00 on March 16, and customers who have signed a deposit before that time will not be affected by this price adjustment.
On March 17, domestic Tesla announced price increases again, and the price of the Model Y rear-wheel drive version rose from the previous 301840 yuan to 316900 yuan, an increase of 15060 yuan. This is the third price increase for Tesla in the past 8 days.
Late at night on March 17, Nezha Automobile announced on its official Weibo that the price of its models on sale would be adjusted, with vehicles ranging from 3,000-5,000 yuan, and the price adjustment took effect from 00:00 on March 18, before which users who paid deposits through official channels such as Nezha Automobile APP and official website were not affected by this price adjustment.
On the specific model, the price of Nezha UPro in addition to the 400 Freewalk version increased by 3,000 yuan, and the rest of the versions rose by 5,000 yuan; Nezha V all series rose by 3,000 yuan, and Nezha V Pro increased by 3,000 yuan.
On the evening of March 18, Xiaopeng Automobile announced the price adjustment of the model on the official public account, which said: Affected by the continuous sharp rise in the price of upstream raw materials, Xiaopeng Automobile will adjust the price of the models on sale, and the increase in the price before the subsidy is 10,100 yuan to 20,000 yuan, and the price adjustment will take effect from 00:00 on March 21, before which users who pay deposits through official channels such as Xiaopeng Motors APP and official website are not affected by this price adjustment.
On March 18, Zero-Run Cars announced price increases: the price of the Zero-Run C11 Deluxe Edition rose from 159,800 yuan to 179,800 yuan after subsidies, an increase of 20,000 yuan; the Premium Edition and the Performance Edition were previously priced at 179,800 yuan and 199,800 yuan, and the adjusted price was 209,800 yuan and 229,800 yuan, both of which reached 30,000 yuan. The price adjustment will take effect from 00:00 on March 19.
On the evening of March 19, Great Wall Motor's brand Euler released a model price adjustment note, saying that due to the continuous sharp rise in the price of upstream raw materials, Euler Automobile will adjust the price of all models of the 2022 Euler Good Cat (including GT version), and the comprehensive guidance price after subsidies will be raised by 6,000-7,000 yuan. The price adjustment will take effect from 00:00 on March 23. Previously, users who paid deposits through officially designated channels such as the Euler App were not affected by this price adjustment.
Prior to this, Euler continued to expand losses due to the rise in raw materials, and suspended the receipt of new car orders for Euler's black cat and white cat models. Subsequently, Euler publicly announced on its official APP that from 00:00 on March 1, the official guidance price of the GT version of Euler Good Cat will be adjusted to 147,000 yuan, and customers who have previously paid a deposit will still enjoy the insurance policy. In addition, the 2022 good cat has also begun to accept reservations, divided into 400km and 500km two endurance versions, a total of four models, the price range of 121,900-151,900 yuan.
On the same day, WM Motors announced that it would adjust the prices of models on sale.
WM Motor's official micro issued an announcement on March 19 that due to the continuous sharp rise in raw material prices and the tight supply of suppliers, WM Motor will adjust the price of the models on sale, and the price will be raised by 7,000-26,000 yuan after comprehensive subsidies. The price adjustment will take effect from 00:00 on March 28, and users who have completed the deposit payment before that time will not be affected by the price adjustment.
Overall, the reasons for the price increase of car companies all point to the high cost of raw materials and inflationary pressures.
Many people in the industry believe that the collective price adjustment of new energy vehicles is still due to the sharp increase in the price of core raw materials including lithium and nickel. Taking the lithium required for new energy vehicle power batteries as an example, the lithium price has increased tenfold in more than a year from 50,000 yuan / ton at the beginning of 2021 to the current 500,000 yuan / ton. On March 18, the domestic price of lithium carbonate was reported at 504,000 yuan / ton, up 73.8% from the beginning of the year and up 479.3% year-on-year.
Power batteries at the end of last year for the same reason set off a round of price increases, when BYD, Penghui Energy and other manufacturers have reported price increase news. The battery price increased by 10% corresponding to the cost of a single kilowatt-hour electricity increased by about 100 yuan, calculated by 50wh of bicycle with electricity, that is, the cost of the bicycle company increased by 5,000 yuan and above.
Cui Dongshu, secretary general of the Association, pointed out that the price increase of raw materials for new energy vehicles is a cyclical behavior, and the current general increase in car prices is also a reflection of the rise in raw material prices. With the recovery of the supply environment at the industrial end of raw materials, the unfavorable factors of price increases will be alleviated to a certain extent.
It is worth noting that the cost of materials forcing the downstream price increase of new energy vehicles has also attracted the attention of the Ministry of Industry and Information Technology.
On the evening of March 18, the Ministry of Industry and Information Technology disclosed information showing that many ministries and commissions organized a symposium on the operation of the lithium industry and a symposium on the price increase of upstream materials for power batteries on March 16-17. The meeting requested that upstream and downstream enterprises in the industrial chain should strengthen the docking of supply and demand, work together to form a long-term and stable strategic cooperation relationship, jointly guide the rational return of lithium salt prices, increase efforts to ensure market supply, and better support the healthy development of strategic emerging industries such as new energy vehicles in the mainland.
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Edited by Yiyi Wu
Editor-in-charge Li Gengguang
Producer Xiao Han
Proofreader Tan Lugang
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