The LS6 went on sale in October 2023 and is a Tesla Model Y competitor.

(Image credit: IM Motors)

SAIC Motor Corp's electric vehicle (EV) arm, IM Motors, has begun offering discounts on its LS6, a Tesla (NASDAQ: TSLA) Model Y competitor that went on sale last October.

IM Motors is offering a RMB 12,000 ($1,670) cash discount on all 4 trims of the LS6, valid through February 5, according to information it announced yesterday.

The starting prices of the four versions of the LS6 before the offer are RMB 229,900, RMB 249,900, RMB 273,900, and RMB 291,900, respectively.

Their starting prices after the cash discount drop to RMB 217,900, RMB 237,900, RMB 261,900, and RMB 279,900 respectively.

Notably, IM Motors had offered limited-time benefits at the launch of the LS6, with the starting prices of these four variants at RMB 214,900, RMB 234,900, RMB 258,900, and RMB 276,900 for customers who purchase the car before the end of 2023.

In addition to the latest cash discount, IM Motors is also offering customers who purchase the LS6 before February 5 RMB 25,600 worth of optional upgrades.

Founded on November 26, 2020, IM Motors was jointly established by SAIC, Zhangjiang Hi-Tech and Alibaba, with SAIC holding a majority stake.

Its first model is the L7 sedan, with deliveries starting in June 2022. The model is currently available in three versions with starting prices of RMB 338,800, RMB 368,800 and RMB 408,800 respectively.

IM Motors' second model is the LS7 SUV, with deliveries starting in March 2023. The model is currently offered in six versions with a starting price range of RMB289,800 to RMB399,800.

The LS6 was launched on October 13, 2023, with deliveries starting at the end of October.

IM Motors has not released monthly delivery figures for the past few months, which may be partly due to weak sales.

IM Motors is the latest EV brand to offer discounts heading into 2024, with Xpeng (NYSE: XPEV) announcing last night that it has begun offering a significant discount on the top trim variant of its flagship sedan, the P7i.

Earlier this month, Tesla (NASDAQ: TSLA), Nio (NYSE: NIO), and Li Auto (NASDAQ: LI) had already begun offering discounts on car purchases.

($1 = RMB 7.1733)

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