Leapmotor, Li Auto issue '90-day price match guarantee'

Beijing (Gasgoo)- On March 14, Chinese new energy vehicle (NEV) startup Leapmotor issued a "90-day price guarantee" in response to the current trend of price reductions in the local automotive market. 

Photo credit: Leapmotor

Leapmotor promises to actively refund the price difference to customers who purchase any 2023 models of their entire line of vehicles (including the 2023 T03, C11, C01, and the newly launched C11 range-extended model), from the date of purchase (inclusive) to within 90 days of purchase, if the official price of the purchased vehicle is reduced or if there is an increase in cash discounts policy during this period.

Leapmotor recently released four new models at one go on March 2 with increasingly competitive prices. Specifically, coming with four trim levels, the 2023 Leapmotor T03 ranges from 59,900 yuan to 89,900 yuan. Th C11 REEV comes with three variants, priced from 149,800 yuan to 185,800 yuan. With five trim levels offered, the 2023 C01 sedan is priced between 149,800 yuan and 228,800 yuan. Finally, the C11 EV will be provided in four options, featuring a price range of 155,800 yuan to 219,800 yuan.

Photo credit: Li Auto

In contrast, a day before Leapmotor’s price-match guarantee was issued, another Chinese NEV startup Li Auto saw its purchase price protection rights circulated online, with Li Auto's price protection commitment also set at 90 days from the date of purchase (inclusive). Li Auto promises to actively refund the price difference to customers who purchase any L-series models (L7, L8, L9) if the official selling price is reduced during the commitment period.

According to the founder of Li Auto, Li Xiang's expectations, the company is optimistic to sell at least 25,000 vehicles per month with the L8 Air and L7 Air trims not delivered to customers. After delivery of the Air trims kicked off, Li Auto is confident in delivering 30,000 vehicles per month. The target numbers will hopefully come true in the second quarter of this year, Li Xiang added.