Five years ago, when Li Shufu announced his plan to build a family sedan priced at just 20,000 yuan, few took him seriously. Today, that vision has finally come true. Geely’s new "sedan chair" – the Geely Emgrand and its bright stars – was launched simultaneously in Tianjin, Chengdu, and Guangzhou at a price of 29,999 yuan. For Chinese consumers, this marked not only the birth of an affordable car but also the beginning of a new era in civilian-oriented car consumption.
The mini-vehicle market has now become a battleground, with Geely leading the charge. The price war is intensifying rapidly. Chevrolet Spark, for example, reduced its old model by 16,000 yuan, a 40% drop, setting the stage for Chery QQ. Meanwhile, Sail introduced a promotional price, cutting its entire range by 20,000 yuan, sparking renewed competition in the mini-car segment.
This shift means that in the sub-70,000-yuan auto market, models like Alto, Xiali, Geely, QQ, Spark, Lobo, Sail, and others are all competing fiercely. Sail has already tasted the benefits of this price war. According to Zhejiang Shentong, a dealer of Sail, over 100 units were sold within just two weeks after the National Day holiday. Currently, the price of Sail has increased by 5,000 yuan.
Some brands are actively joining the fight, while others are trying to avoid it. With shrinking market space, Hafei Lobo and Jiangnan Alto were forced to cut prices by 5,000 yuan per model. Hafei Hangzhou dealers reported that sales improved significantly after the price cuts. Jiangnan Automobile recently started offering oil subsidies, with some models receiving up to 6,000 yuan in support.
Facing Geely's aggressive move, a representative from Xiali's Hangzhou dealer Jintong Company said, “Geely has strong sales in the northern region, but not so much in Zhejiang. This time, their new under-30,000-yuan car being launched in Tianjin may not be a major threat to the Hangzhou market.â€
At the same time, Chery found itself struggling against the SPARK. Before September, Chery QQ outsold SPARK tenfold. But when the SPARK hit the market at 47,800 yuan, QQ’s dominance came to an end. A Zhejiang-based Chery dealer revealed that QQ hasn’t had any promotions lately and has struggled to sell even one car since the National Day holiday.
Despite the current slump in sales during the Golden Week, the 29,999-yuan sedan chair has captured both consumer and market attention. A few years ago, mini cars cost nearly 100,000 yuan; today, they can be bought for less than 30,000. Consumers are asking: how low can prices go?
Li Shufu, CEO of Geely, did not directly answer this question. He stated that it depends on the manufacturer’s ability to control costs and resources. “We’ve already set the price at a certain level,†he said, “and we will only lower it if it means sacrificing product quality.â€
Many dealers are feeling the pressure. A Hafei 4S store manager in Zhejiang said, “Prices have dropped to the bottom and can’t go any lower, but everyone is still cutting prices. Customers are very price-sensitive, and without following suit, you lose competitiveness.â€
It’s not easy anymore. Mini-vehicles have been engaged in price wars for years, and profit margins are now extremely thin. No one can afford to keep fighting. Industry insiders believe this price war reflects deeper market shifts. As high-end and mid-range cars continue to adjust their prices, the pressure has trickled down to the low-end segment, pushing mini cars to find new ways to compete.
While luxury brands like Audi reduce prices by squeezing profits, mini cars are cutting costs instead. However, frequent price battles ultimately hurt consumers, as quality may suffer in the long run.
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