The Volkswagen ID.3 is facing a huge rise in demand post follow the price cut decision by the automaker. Since lower ID.3 prices have put a great impact on sales which is up by over 300%.
Volkswagen ID.3 sales in China after price cuts
At the beginning of June, Volkswagen makes a price cut deduction decision on its small ID.3 electric car. It comes with a limited-time “historically low price” deal.
The German automaker has its merger with SAIC resulted in cutting prices by 16%. The new starting price comes at around 119,900 yuan ($16.6K) from 142,900 yuan ($19.8K).
The price cuts are has put a significant influence on VW,s sales in the region. As per one of the news sources, CarNewsChina, Volkswagen ID.3 sales mount to 7,378 units in July. This demonstrates an amazing increase of 305% by having 1,819 units sold in June.
The number does not only represent drastic growth month over month but it even breaks the monthly record for the ID.3. Since it has crossed 5,000 in monthly sales by the time of its launching from 2021.
The price cut decision came into existence after Volkswagen lost its dominance in the Chinese market. Since, several EV makers in the region, like BYD, Tesla, NIO, and many others, have seemingly met higher demand.
At VW’s general meeting that has been conducted in May, shareholders were quick in order to bring up the company’s reduction in EV sales in China. Since the would be the largest automotive market.
BYD overcome VW in the first three months of the year in passenger car sales. This figure further extends its lead through June.
SAIC VW collectively offers two versions of the ID.3. Talking about the pricing, then the base version starts at 119,900 yuan ($16.6K) and a higher-end trim for 149,900 yuan ($20.8K). Also, the ID.3 is backed by a single rear electric motor with 170 hp (125 kW) and 310 Nm peak torque. This comes along with a 57.3 kWh battery pack, the ID.3 has a 450 km (280 miles) CLTC range.