SAIC-Roewe Become Latest NEV Maker to Announce Price Hikes Starting March

Automotive Author: EqualOcean News, Tao Ni Editor: Tao Ni Feb 13, 2022 05:14 PM (GMT+8)

New energy auto producers rushed to put new price tags on their products one after another, citing ship shortage and fewer subsidies

Roewe rx5 plus

Roewe, a brand owned by Chinese carmaker SAIC, announced yesterday that it will raise the prices of several new energy car models starting March 1 this year.

Roewe said it had decided to adjust the prices due to rising costs, citing a prolonged global car chip shortage and China's dwindling subsidies for new energy vehicle (NEV) purchase. 

However, it did not disclose how much the price will go up and which models will be insulated from this round of price increases.

According to a company statement, new car buyers who have already placed a deposit will be insulated from by the increase.

Asking for the understanding of consumers, the carmaker said in the statement it will also spare no effort to ensure the capacity and supply of its models.

Statistics show that in January 2022, SAIC-Roewe's NEV sales reached 9,892 units, up 80% month on month and up 85% from the same period last year.

Roewe will join a slew of NEV makers including BYD, Xpeng, Nezha, GAIC-Aion, Feifan and Wuling that have announced price inreases of between CNY 3,000 (USD 472) to CNY 5,000 early this year.