Seres Group Chairman Talks about Price War in Auto Market

TapTechNews August 20th news, Zhang Xinghai, the chairman of Seres Group, talked about the topic of the price war in the auto market at the 2024 Brand Power Nation Project signing event.

He said that (the Chinese auto market) is very intense. What is it intense about? It's about the price, but Seres does not engage in the price war.

Zhang Xinghai said: When our M9 came out, actually our price is getting higher as we sell more, and the orders are increasing more and more, without reducing the price. Actually, many cars now reduce the price for that volume, but actually there is no volume even after the reduction, which is not good either. So in the end, we have to compete on the brand, only with a brand can there be value.

According to TapTechNews' previous report, the sales volume of Seres new energy vehicles in July was 42,176 units, an increase of 508.25% year-on-year; among them, the sales volume of Seres vehicles in July was 40,288 units, an increase of 850.19% year-on-year.

In addition, the 400,000th car of AITO Wenjie and the 70,000th M9 were off the production line and delivered on July 29, becoming the fastest new energy brand to reach this record.