SAIC Volkswagen bumps up prices of Volkswagen-branded models

Shanghai (Gasgoo)- SAIC Volkswagen, the joint venture between SAIC Motor and Volkswagen Group, announced this week the MSRP (manufacturer's suggested retail price) of several Volkswagen-branded models would be raised from May 11, another mainstream automaker in China joining the wave of price rise.

ID.3; photo credit: SAIC Volkswagen

The latest price increase involves both NEV (new energy vehicle) and oil-fueled models. To be specific, prices of the ID. series and Volkswagen-branded PHEVs have been lifted by 3,000-5,000 yuan ($445-740) per car, while the models running on gasoline or diesel have risen in price by 1,000-3,000 yuan ($150-445).

Aside from SAIC Volkswagen, the SAIC-owned brands, Roewe and Rising Auto, have marked up NEV models as well due to the hike in raw materials prices and global supply constraints of auto parts.

Due to the pandemic factor, SAIC Volkswagen's production volume in April tumbled 75.1% year on year to 27,307 units, while its wholesales plunged 72.3% to 30,008 units, according to SAIC Motor's latest sales results.

SAIC Motor said on May 6 its complete vehicle firms were expected to return to normal production in mid-May on the premise of stable supply chain and logistics operations. This month, it would strive to reach the year-ago level in both vehicle production and sales volumes.