China NEV Price Cuts Ease in June as Average Discount Narrows to 5.6%

According to data from Cui Dongshu, secretary general of CPCA, the average sticker price of discounted new energy vehicles (NEVs) in China stood at RMB 221,000 ($32,550) in June 2026.

Its average price reduction reached around RMB 12,000 ($1,768), equivalent to a 5.6% discount.

Compared with the overall passenger vehicle market, which recorded average price cuts of 12.6% during the first half of the year, June’s price adjustments were noticeably more restrained.

Only seven models received price reductions in June, seven fewer than in the same period last year.

The list comprised four battery electric vehicles (BEVs), one plug-in hybrid (PHEV), one extended-range EV (EREV), and one internal combustion engine (ICE) model, indicating a further narrowing in the scope of discounting.

From the beginning of the year through June, a total of 83 models have seen price cuts, 12 fewer than during the same period last year, suggesting that the frequency of pricing adjustments is declining.

BEVs remained the primary focus of price reductions. Notable models receiving price adjustments in June included the Leapmotor C11, Leapmotor C16, AITO M6 and ONVO L60.

Among them, the AITO M6 posted the largest reduction, with its starting price lowered from RMB 279,800 ($41,215), where it had remained for nearly three years, to RMB 229,800 ($33,850), representing an 18% cut.

Price reductions for the Leapmotor C11, C16 and ONVO L60 were comparatively modest, generally ranging from RMB 6,000 ($884) to RMB 14,100 ($2,077), equivalent to discounts of roughly 4% to 7%.

Price adjustments for PHEV and EREV models were even smaller.

For example, the Dongfeng M-Hero M817 PHEV and the Leapmotor C11 EREV saw price reductions of around 1% and 3%, respectively, with changes largely reflecting trim or configuration revisions rather than broad-based discounting.

As price cuts became less frequent, promotional intensity also eased.

Overall promotional incentives for NEVs stood at 9.1% in June, unchanged from a year earlier but down 0.5 percentage points from May, while remaining at a relatively elevated level.

Cui said that as a wave of new model launches gathered pace in recent months, some automakers shifted from aggressive price promotions toward product replacement cycles, leaving the market in a period of adjustment.

By powertrain, pricing activity for ICE vehicles weakened further. Average discounts for conventional gasoline-powered vehicles were just 0.3% in June, effectively flat.

NEVs continued to see price adjustments, although the scale was significantly smaller than at the beginning of the year.

Promotional strategies also continued to vary by brand group. European brands posted the deepest average discounts at around 38%, followed by Korean brands at 30.3%, while joint-venture brands averaged roughly 22%.

Chinese domestic brands recorded the lowest average promotional intensity at about 19.5%.