SAIC MG electric car prices plummet, challenging Tesla's dominance in Spain

In the Spanish market, Chinese automaker SAIC Motor (MG) continues to lead the electric car segment with a series of price cuts. In the latest news, the company has announced a new round of price cuts for its compact electric car, the MG4, which can now be purchased for just €18,480 (145,479 CNY 1 EUR ≈ 7.8 CNY), with support for the government's EV incentive program, Plan Moves III, already included. This price reduction has allowed the MG4 to climb up the Spanish electric car market, placing it third in the market behind Tesla's Model 3 and Model Y.

"MG has once again released a positive signal to the general Spanish consumer to buy a car. the MG4, the third best-selling model in our electric car market, is not only more affordable with this price reduction, the selling price is discounted by more than 12,000 euros from the original recommended retail price, with a starting price of only 18,480 euros." A company spokesperson said. To take advantage of this price, buyers will need to receive a grant through the Plan Moves III scheme, as well as scrapping an old car, taking full advantage of the various offers from the manufacturer and opting for finance with Santander.

This price-cutting strategy allows MG to once again take the lead in the electric car price race, competing with European manufacturers and Tesla. The cheapest on the market today is the Renault Group's Dacia Spring, priced at €19,990, which, although relatively low, has significantly less range than the MG4. Stellantis recently announced the launch of the new Citroën C3 EV, which will be priced at less than €25,000 (excluding state grants) and is planned to have a starting price of €23,300 and a range of 320 kilometers. Although not yet on sale, pre-orders are already being taken on the manufacturer's website.

By contrast, Tesla has announced several price cuts globally since late last year, with the Model Y and Model 3 selling more than 5,000 and 3,600 units, respectively, in the Spanish EV market. The cars are priced at 46,490 euros (Rs365,982) and 39,990 euros (Rs314,812) respectively on Tesla's website, and through the Plan Moves III program, buyers can receive a grant of up to 7,000 euros if they scrap an old car. In addition, a €3,000 (RMB 23,616) income tax credit approved by the government in June of this year provides additional benefits to car buyers. This series of measures has given consumers more choices when purchasing a car and has boosted competition and development in the overall EV market.