Chinese State-Owned Automaker Dongfeng Motor Cuts Prices after Chairman Change Up

Dongfeng Motor, a Chinese state-owned vehicle producer headquartered in Wuhan, Hubei Province, has begun providing incentives to prospects. After its personal subsidies and authorities subsidies mixed, the low cost totalled between 10,000 yuan ($1,442) and 90,000 yuan ($12,984). This transfer was after the dismissal of Zhu Yanfeng, Chairman and Secretary of Party Committee of Dongfeng on March 3.

Zhu, who has been answerable for Dongfeng Motor for practically 8 years, was born in March 1961 and is now 62 years outdated. According to the brand new laws on the retirement of leaders in state-owned enterprises issued in December 2018, the retirement age is 60 years outdated, however it may be prolonged to 63 years outdated in sure circumstances. This sudden “early retirement” triggered the guess that the corporate’s transformation led by Zhu failed to fulfill expectations.

Zhu is a veteran of the auto business. He has served as the overall supervisor and chairman of FAW Group, and deputy secretary of the Jilin Provincial Party Committee. In 2015, Zhu returned to the auto business once more and has been on the helm of Dongfeng Motor since then. However, after the gross sales quantity of Dongfeng reached the height of 4,276,700 automobiles in 2016, it started to say no, with solely 2,460,700 automobiles in 2022.

On the one hand, the corporate’s gas car enterprise is weak, and alternatively, its electrical car manufacturers Voyah and Mengshi have failed to spice up its gross sales quantity.

Many of Dongfeng Motor’s manufacturers, together with Dongfeng Honda, Dongfeng Peugeot, Dongfeng Citroën and Dongfeng Fengshen, have began to wildly lower costs. This transfer was initiated by the Hubei provincial authorities and proposed to final from early March to the tip of the month. To make the most of this subsidy, prospects’ automobiles and licence plates should be obtained in Hubei Province.

In explicit, Dongfeng Citroën witnessed the sharpest value discount. The unique value of the C6 co-creation model and luxury model was 211,900 yuan and 226,800 yuan respectively, each of which will likely be lower by 90,000 yuan. Finally, subsidies value 56,000 yuan will likely be supplied for consumers of the C3-XR excessive model.

SEE ALSO: First EV Model of Dongfeng Motor’s Voyah Delivers 136 Units in Norway

The giant subsidies have aroused customers’ enthusiasm. On the morning of March 7, the variety of viewers on the livestreaming channel of a Dongfeng Citroën vendor was practically 10,000 on the peak, and customers always inquired about automotive purchases. According to the livestreamer, the low cost is for customers with ID playing cards and half a 12 months of social safety in Hubei province.

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