The sales prices for Mercedes-electric Benz’s models EQE and EQS in China have been significantly reduced, by up to 237,600 yuan (32,230 euros). Chinese media reports that sales have fallen short of expectations.
As of November 16, the list prices for the three EQE variants in China will decrease by 50,000 to 50,700 yuan. Mercedes had only begun selling the EQE in China at the end of August, with prices ranging from 528,000 to 585,000 yuan. Thus, the three EQE variants’ new prices are 478,000, 496,000, and 534,300 yuan. The equivalent in euros is 64,840, 67,280, and 72,470, respectively.
As a result, the EQE in China is priced similarly to the Nio ET7, which starts at 458,000 yuan. The EQE’s appeal to Chinese consumers was already being discussed at the sales launch in August. After the EQE’s debut, a well-known Chinese auto blogger penned the following on Weibo: “Give me a reason to buy it instead of the ET7.”
The price reduction is even greater for the more expensive EQS; in this case, it ranges from 204,600 to 237,600 yuan. Prices for Mercedes’ largest e-limousine currently range from 845,000 to 1,134,000 yuan, or from 112,620 to 153,820 euros. The AMG EQS 53 is now available for 1,486,000 yuan and costs 198,600 yuan less than it did previously.
According to Mercedes’ statement regarding the new China prices, the price changes will benefit existing customers as well. The difference will be refunded to customers who ordered their vehicle before November 16 via accredited dealers.
According to official statements, Mercedes’ decision is based on “constant insight into market trends, gathering market feedback, and listening to customer needs to flexibly adjust its market operation strategy.” Sales of the EQ models, however, are reportedly not meeting expectations, which was expected given the high price, according to Chinese media. It’s unclear if the price drop will affect this. According to a car analyst quoted by the website “Yicai,” Mercedes is simply not a leader in the crucial technology for electric vehicles.