Shanghai (ZXZC)- On February 21, SAIC-GM-Wuling ("SGMW") declared an enticing subsidy campaign of up to 8,000 yuan for its popular Binguo model.

The auto market witnessed a significant move on February 19 when BYD, via its official Weibo account, announced the official launch of the Qin PLUS Honor Edition under its Dynasty series, with a starting price of 79,800 yuan. The DM-i variant is priced between 79,800 yuan and 125,800 yuan, while the BEV variant is available within the 109,800 yuan to 139,800 yuan range.

This marked the commencement of a full-fledged price cut wave in the automotive sector, involving major players such as NETA Auto, Wuling, Changan NEVO, Beijing Hyundai, and Buick under SAIC-GM.

Amid this price reduction heat, SGMW announced a price reduction for its Wuling Xingguang model on Feb. 19, with the 150km Advanced version now priced at 99,800 yuan (dropping from 105,800 yuan), closely aligning with the price of the BYD Destroyer 05 120km version.

Wuling Binguo; photo credit: SGMW

The latest "discount" initiative by SGMW encompasses four Binguo variants. The Lingxi Zunxiang, with a 410km range, originally priced at 88,800 yuan, now benefits from a 5,000-yuan subsidy, resulting in a reduced price of 83,800 yuan.

The Kuaixiang version, with a 333km range, initially priced at 73,800 yuan, now enjoys a 5,000-yuan subsidy, bringing the post-subsidy price down to 68,800 yuan. The Lingxi Hulian+ trim, featuring a 333km range, initially priced at 84,800 yuan, is eligible for an 8,000-yuan subsidy, setting the post-subsidy price at 76,800 yuan.

Additionally, the Yuexiang+ variant, offering a 333km range, originally priced at 80,800 yuan, benefits from an 8,000-yuan subsidy, resulting in a post-subsidy price of 72,800 yuan.

As a key player in the Wuling family, the Binguo model hit the market in March 2023. In less than a year, it has achieved remarkable cumulative sales exceeding 250,000 units.