From 00:00 on March 19th, Leapmotor officially adjusted the prices of its mid-size SUV C11 across the board. According to the official statement, the price adjustment was affected by the significant increase in raw material prices and the phased reduction of national subsidies. Currently, the latest subsidized prices for Leapmotor C11 are as follows:
- Luxury version: RMB 179,800 (an increase of RMB 20,000);
- Exclusive version: RMB 209,800 (an increase of RMB 30,000);
- Performance version: RMB 229,800 (an increase of RMB 30,000).
It can be seen that the price of C11 has increased by 20,000 to 30,000 yuan. The luxury version equipped with a 78.5-degree lithium iron phosphate battery has increased by 20,000 yuan, while the exclusive and performance versions equipped with 90-degree ternary lithium batteries have increased by 30,000 yuan. After the price increase of battery raw materials this time, it indeed had a decisive impact on the car price.
In addition to Leapmotor C11, XPeng, Tesla and others have also raised the prices of their vehicles after subsidies, with increases ranging from 10,000 to 30,000 yuan.
Although everyone is raising prices, it is obviously not a good thing for Leapmotor C11, which is a product that focuses on cost-effectiveness. As early as the beginning of last year, when everyone purchased C11, there was a discount of 20,000 yuan for every 40,000 yuan spent, and when choosing the Comfort Package, only 10,000 yuan was required. Taking the exclusive version with the largest sales volume as an example, the car price of 17.98 yuan at that time only required 16.98 yuan after choosing the package and receiving the discount. Now, the package has also increased in price to 15,000 yuan. The post-packaging price of the exclusive version has risen to 224,800 yuan, which means users need to pay an extra 55,000 yuan compared to purchasing earlier. It is worth noting that the lowest-priced Leapmotor T03 is only 68,900 yuan.
Last month, the delivery volume of Leapmotor C11 was only 1,144, which was a significant decrease from previous months. The reasons for this include the Spring Festival holiday, the pandemic and the production capacity. It is believed that this price adjustment will be very detrimental to the sales of C11, although it is also forced. I wonder if the listing of Hong Kong stocks and the launch of the C01 sedan on the same platform will help Leapmotor run faster in the future?
Source: Leapmotor Official
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.