On - site investigation of the auto market: Some BMW models have a price cut of 300,000 yuan, and Xiaomi salespeople are receiving orders for the new SU7.
At the beginning of the new year, the competition among car manufacturers has reached a white - hot stage. In the face of new policies such as the halving of the purchase tax for new energy vehicles and the adjustment of the national car purchase subsidy method, many car companies have launched various welfare promotions and other activities to attract users.
On January 7th, Times Finance visited several car stores in Guangzhou as a consumer. Among them, Tesla launched a limited - time ultra - long - term car purchase plan on January 6th, which immediately attracted a group of consumers. In just 20 minutes at the Tesla store, more than ten groups of users came in to look at cars. A Tesla salesperson told Times Finance, "There have been quite a few users inquiring about the relevant financial policies in the past two days."
At the Xiaomi car store, on the morning of January 7th, Xiaomi officially announced that the new - generation SU7 had started small - scale pre - orders. Coupled with the 3 - year zero - interest financial plan launched for the Xiaomi YU7, Xiaomi salespeople are also full of confidence in the market at the beginning of 2026. A Xiaomi salesperson showed Times Finance his phone screen and introduced, "This is an angel order for the new - generation SU7 that was just assigned. Orders are coming in while I'm sitting in the store." An angel order generally refers to an order placed online directly by a customer who has not actively contacted the company before.
In addition, with the reduction of the new energy vehicle purchase tax this year, car companies such as Hyper and Zeekr have launched new discounts. Among them, Hyper is offering a purchase tax subsidy of up to 15,000 yuan for users who purchase a car and complete the invoicing before January 18th.
BMW adjusted the prices of many models at the beginning of the year. Among them, the largest price cut was for the i7 M70L. Its recommended retail price was lowered by 301,000 yuan, from 1.899 million yuan to 1.598 million yuan. A person familiar with the matter told Times Finance, "The value upgrade of some BMW products is an active adjustment of the product strategy by BMW and a positive response to market dynamics." The person also said that this price adjustment is a routine adjustment of the manufacturer's recommended retail price for some products, and the final transaction price at the terminal is still determined through negotiation between the authorized dealer and the customer.
In the first week of 2026, many car companies have competed to launch new products, adjust prices, introduce financial policies, and subsidize purchase taxes... The battle for a "good start" has begun, injecting momentum into the car market in 2026.
Tesla store, Photo source: Taken by Times Finance
Diverse Discounts from Car Companies
At the beginning of 2026, BMW's price adjustment has attracted industry attention.
Since January 1st this year, the recommended retail prices of more than 30 BMW models have been adjusted. Among them, the electric sedan i7 M70L had the largest price cut, with its official guide price dropping from 1.899 million yuan to 1.598 million yuan, a direct reduction of 301,000 yuan. The pure - electric SUV iX1 eDrive25L had the highest percentage reduction, with its official guide price dropping from 299,900 yuan to 228,000 yuan, a reduction of 24%.
This price adjustment of BMW models involves the manufacturer's recommended retail price, not the terminal price. According to a person familiar with the matter, "The final transaction price at the terminal is still determined through negotiation between the authorized dealer and the customer." The person also said that BMW pursues a "long - termism" for healthy development in China, rather than short - term profit.
Times Finance learned from two BMW salespeople in Guangzhou that although the guide price has decreased, the actual final transaction price at the terminal is about the same as before. A BMW salesperson introduced that the guide price of the entry - level BMW 2 - Series has been lowered by about 50,000 yuan to 208,000 yuan, but the current on - the - road price is still about 170,000 yuan, not much different from the previous price after terminal discounts.
In addition, this guide price adjustment does not cover popular and high - volume models such as the BMW 3 - Series and 5 - Series. These high - volume models have had significant discounts at the terminal in recent years. According to the quotes from the two salespeople, the guide price of the entry - level BMW 3 - Series remains at 319,900 yuan. When purchased in installments, the bare - car price is just over 200,000 yuan, and the on - the - road price is about 230,000 yuan. Customers who buy now can also enjoy a 5,000 - yuan new - car purchase subsidy.
In addition to BMW's direct price adjustment, Times Finance found during its visits that many car companies are "diversely" offering additional discounts. Since January 1st, 2026, the preferential policy for the new energy vehicle purchase tax has been adjusted from full exemption to half exemption, increasing the cost of car purchase for consumers.
"To cope with the policy of reducing the purchase tax, we have a one - month buffer period. Zeekr will provide a purchase tax subsidy in January, and the specific subsidy amount depends on the model," a Zeekr salesperson in the Guangzhou area told Times Finance. He specifically introduced that taking the Zeekr 001 as an example, the car - purchase benefits include a 5,000 - yuan insurance subsidy, a 5,000 - yuan replacement subsidy, and an 8,000 - yuan purchase tax subsidy. If an individual replaces an old car, they can also apply for a 15,000 - yuan government subsidy.
The Hyper brand is also helping users who purchase a car and complete the invoicing before January 18th with the purchase tax, offering a purchase tax subsidy of up to 15,000 yuan to further lower the car - purchase threshold.
LeDao, relying on the BaaS sales model, allows users of battery - swapping models to save up to 3,805 yuan on top of the 5% purchase tax reduction. "Because the battery part purchased through the battery rental method is exempt from purchase tax," a LeDao salesperson told Times Finance.
Photo source: Taken by Times Finance
Tesla and Xiaomi have officially announced their latest financial policies. On January 6th, Tesla launched a limited - time ultra - long - term car purchase plan called "Tesla Enjoy" for the first time. Customers who place an order for a Model 3 or Model Y before January 31st can enjoy ultra - low interest for 7 years. With a down payment of 79,900 yuan, the monthly payment can be as low as 1,918 yuan.
The Tesla Model Y L also launched a 5 - year zero - interest car purchase plan for the first time. A salesperson in the Guangzhou area introduced to Times Finance, "Now, when purchasing a Model YL, with a down payment of 99,900 yuan, the monthly payment can be as low as 3,985 yuan. Compared with the 3 - year zero - interest plan launched last year, the monthly payment has been further reduced." In addition, according to the latest national replacement and scrapping subsidy policy, customers who choose to scrap an old car and purchase a Model Y L can directly receive the full 20,000 - yuan national subsidy, and those who choose to replace an old car can also receive a 15,000 - yuan subsidy.
On January 7th, Times Finance saw at the Tesla store that even on a weekday afternoon, there were still many people coming to look at cars, and there were consumers sitting in almost every display car.
Xiaomi also launched a "3 - year zero - interest" car - purchase discount policy for the YU7. With a down payment starting from 74,900 yuan and a monthly payment starting from 4,961 yuan, customers who place an order before 24:00 on February 28th can enjoy this offer. "In the past few days, with the new financial policy for the YU7 and the start of small - scale pre - orders for the new - generation SU7, we expect a larger influx of customers this weekend," a Xiaomi salesperson in the Guangzhou area told Times Finance.
Photo source: Taken by Times Finance
New Cars Rushed onto the Agenda
At the beginning of the new year, in addition to the diverse discounts and price adjustments of various car companies, a large number of important new cars have also arrived one after another.
On January 7th, Xiaomi officially announced that the new - generation SU7 had started small - scale pre - orders, with a pre - sale price starting from 229,900 yuan. Lei Jun said, "The pre - sale price is more than 10,000 yuan higher than the starting price of the previous - generation SU7. Customers can pay a 1,000 - yuan deposit through the Xiaomi car APP, which can be refunded at any time after the car is launched. For SU7 users who have locked in an order but have not taken delivery, if they want to change the model, they can still retain the purchase tax benefits of the original order. Their orders will be prioritized for production, and they will also receive a smart dual - dial watch worth 699 yuan when taking delivery. Delivery is expected to start in April 2026."
The new - generation SU7 is equipped with new colors, new wheels, and a new interior. Currently, the new car has introduced a new body color called "Capri Blue" and brand - new 20 - inch blade - style wheels. "I have full confidence in the new - generation SU7," Lei Jun said.
On January 8th, a Xiaomi car salesperson in Shenzhen told Times Finance, "After the new - generation SU7 started small - scale pre - orders yesterday, I was so busy that I didn't get off work until 10 p.m."
On the afternoon of January 7th, a Xiaomi car salesperson in Guangzhou said that in his personal perception, the small - scale pre - order situation for the new - generation SU7 was very good. He showed the small - scale pre - order on his phone, "This is an angel order for the new - generation SU7 that was just assigned. Orders are coming in while I'm sitting in the store."
On the night when Xiaomi announced the small - scale pre - orders, Lei Jun took to the live - streaming platform again after his New Year's live - stream. He said that the new car is definitely a major upgrade, with many improvements. There are still many highlights that haven't been revealed. He is 100% confident in the product power of the new car. "You'll know how amazing the new - generation SU7 is when it's launched in April."
On the other hand, He Xiaopeng went to Heihe, where the temperature is minus twenty or thirty degrees, for winter testing to promote his company's new cars. The new - style XPeng P7+ and XPeng G7 of XPeng Motors will be officially launched on January 8th. He Xiaopeng posted on Weibo on January 7th, "On - site, I personally tested the XPeng G7's super - extended - range version. After being left standing on ice - covered roads, the defrosting was very fast, and it drove very stably on snowy and icy roads. Also, for the 2026 - model XPeng P7+, the air - conditioning heated up very effectively after a cold start."
He also revealed that in an environment of minus 20 degrees, the XPeng G7's super - extended - range version achieved a comprehensive cruising range of over 1,100 kilometers.
In addition to Xiaomi and XPeng, on January 7th, BYD announced the launch of long - range versions for four popular models: the Qin PLUS DM - i, Qin L DM - i, Seal 05 DM - i, and Seal 06 DM - i. Their CLTC pure - electric cruising ranges all exceed 210 km.
BYD said that as the national new regulations for plug - in hybrid vehicles in 2026 have raised the pure - electric cruising - range threshold to 100 kilometers, BYD's launch of plug - in hybrid models with a pure - electric cruising range of 210 km meets consumers' expectations for long - range hybrid vehicles.
In the first week of 2026, the battle for a "good start" among car companies has been fierce. With the in - depth adjustment of policies, the market concentration may further increase this year.
In terms of policies, on December 30th, 2025, the National Development and Reform Commission and the Ministry of Finance issued the "Notice on Implementing the Policy of Large - Scale Equipment Upgrades and Trade - ins of Consumer Goods in 2026", which will continue to support the scrapping and replacement of cars. During its visits, Times Finance found that salespeople from Tesla, Zeekr, etc. all mentioned the 15,000 - yuan replacement subsidy, which may partially offset the impact of the reduction of the new energy vehicle purchase tax.
Cui Dongshu, the secretary - general of the Passenger Car Association, said, "The judgment of the growth of the car market in 2026 is quite complex. The most important factor at the beginning of the year is the late Spring Festival this year. Coupled with the early implementation of national subsidies, the effect will be very prominent. It should be no problem to achieve positive growth for a good start in January. The pressure in February will be a bit greater, but overall, there will be an optimistic start in January and February."
This article is from the WeChat public account "Times Finance APP" (ID: tf - app), author: He Qing, published by 36Kr with authorization.