Limited Lunar New Year Car Deals: Some Inventory Models Drop by ¥20,000, EV Promotions Rely Heavily on Financing

Although the Spring Festival holiday is not traditionally a promotional period for automakers, some brands are still attracting consumers with discounts on inventory vehicles. Avatr is offering cash discounts of up to RMB 20,000 on models with inventory ages exceeding 180 days, while Zhiji provides RMB 10,000 off on vehicles in stock for over 90 days. The XPeng G6 also features "clearance pricing," though buyers must select from available configurations in existing inventory. Most new energy vehicle (NEV) brands have not introduced Spring Festival-specific promotions; sales staff at Li Auto, NIO, and Xiaomi stores indicated that discount levels typically decrease as new models approach launch. Meanwhile, Tesla and XPeng are promoting seven-year ultra-low-interest financing plans, but consumer choices are becoming more rational, with greater emphasis on range and cost-performance ratio. The China Association of Automobile Manufacturers (CAAM) forecasts NEV sales will reach 19 million units in 2026, up 15.2% year-over-year, while emerging EV makers have generally set annual targets far exceeding the industry average, intensifying market competition.