Neta cut the prices of almost its entire model range, with the compact SUV Neta X seeing the highest reduction.

(Image credit: CnEVPost)

Hozon Auto's NEV (NEV) brand, Neta Auto, has cut the prices of almost its entire model range, as the Chinese auto market kicks off the Lunar New Year with a fierce price war.

Neta's current models on sale include the Neta X and Neta Aya compact SUVs, the Neta GT electric sports car, and the Neta S flagship sedan.

The Neta X saw the highest cuts, as all four versions previously on sale have been reduced in price by RMB 22,000 ($3,060), with the latest starting prices at RMB 104,800, RMB 114,800, RMB 114,800, and RMB 124,800, respectively, according to a post by Neta on its WeChat account today.

Neta is offering a RMB 5,000 loan interest subsidy for these four versions of the Neta X and a free 7-kW home charger.

The NEV maker has also added a lower-priced Air version to the Neta X, starting at just RMB 99,800, with deliveries set to begin in June.

Neta launched the Neta X on October 18, 2023, a facelift of the previously available Neta U-II, when the starting price was lowered by RMB 9,000 from its predecessor.

The price of all versions of the Neta Aya has been reduced by RMB 8,000, bringing the starting prices of the three available versions down to RMB 65,800, RMB 76,800, and RMB 80,800 respectively.

Neta is offering the Neta Aya with either a loan interest subsidy or a trade-in subsidy worth RMB 3,000, with customers being able to choose one of the two. Customers buying the model will also get a free 7-kW charging post.

The prices of all versions of the Neta S have been slashed by RMB 5,000, bringing the starting price down to RMB 154,800. Customers who buy the model will receive a RMB 5,000 loan interest subsidy and a free 7-kW home charging post.

The price of the Neta GT remains unchanged, but the available trims only come in versions with a starting price of RMB 188,800 and RMB 226,800.

The electric sports car was offered in four versions when it went on sale during the Shanghai auto show in April 2023, with two other versions starting at RMB 178,800 and RMB 206,800, respectively.

Neta delivered 10,032 vehicles in January, up 66.76 percent from 6,016 in the same month a year ago, and up 95.37 percent from 5,135 in December, according to figures it announced on February 1.

Earlier today, BYD (OTCMKTS: BYDDF) launched the Qin Plus Glory Edition as well as the Chaser 05 Glory Edition, both with a reduced starting price of RMB 79,800, lower than the current hot-selling fuel cars in the same segment.

BYD is aiming to make a further push into traditional fuel cars, but its move first drew a reaction from its local counterparts, with SAIC-GM-Wuling subsequently cutting the price of one of its hybrid sedans by RMB 6,000.

($1 = RMB 7.1980)

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