Mercedes-Benz has cut prices on its EQE and EQS electric luxury sedans in China by as much as $33,000 in a bid to boost sales. Strong competition from domestic and foreign automakers in the world's largest EV market has impacted sales of the EQE and EQS sedan, with the automaker announcing price cuts on its website on November 15.
Following a similar move from Tesla in October, the price reductions went into effect today, with the carmaker's Chinese website showing a base price of 478,000 yuan ($67,430) for the Mercedes EQE, down from 528,000 yuan ($74,480) the day before.
The EQS flagship electric sedan saw a more dramatic price cut of around $33,000, with the website listing it at 956,000 yuan ($134,860), compared to 1,190,000 yuan ($167,870) before. Mercedes-Benz said it would provide subsidies to customers who recently bought the cars at the previous prices.
According to unnamed insiders who spoke to Bloomberg, the automaker is making the cuts because sales of the EQE and EQS have been disappointing in China. The sources added that some dealers have already been carrying out promotions to try and boost sales, as Mercedes EQS deliveries at times dropped to as low as 100 a month.
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