As car companies rush to meet their sales targets for the year by the end, many have resorted to price cuts and discounts. Several foreign brands have gone even further than domestic ones in offering promotions to attract consumers. Tesla, BMW, and Toyota are undoubtedly key representative companies in this price reduction trend.

Tesla's sales in the first nine months of this year failed to meet its initial sales targets. Therefore, Tesla officially offered a discount of 10,000 yuan off the final payment. Such discounts are actually quite common in the automotive industry, especially considering that both electric and fuel vehicles have seen discounts of tens of thousands of yuan this year.

BMW quickly followed suit. Media reports indicated that a poster at a 4S dealership in Jiaxing, Zhejiang, showed that the BMW i3 was available at a minimum price of only 159,000 yuan, equivalent to a 60% discount on the listed price, which quickly garnered a lot of attention. Although the dealership quickly responded that the model advertised in the poster was a special promotion model and that only two units were available, it undoubtedly highlighted BMW's aggressive promotional efforts.

In fact, in the luxury car market, Tesla and BMW are engaged in a fierce competition. Since November, Tesla's sales have increased significantly, reaching 15,700 units in the 47th week, surpassing BMW, Mercedes-Benz, Audi, and others to claim the top sales spot. This has undoubtedly put pressure on BBA, prompting them to counterattack.

BMW is undoubtedly the most aggressive luxury car brand in counterattacking. This is a lesson learned from its price increase in July this year. In July, BMW announced that it would abandon the price war and return to brand value. However, consumers did not buy it, and BMW's sales quickly declined, with weekly sales dipping below 7,000 units and ranking sixth in the luxury car market. Since September, BMW has quickly reduced prices, and the effect has been significant, with sales rebounding rapidly. In the 48th week, sales reached 19,700 units, surpassing Tesla's 18,700 units to rank first in the luxury car market.

The price war in the electric vehicle market has been ongoing since the beginning of this year. Domestic electric vehicle manufacturers announced significant price reductions at the beginning of the year, with discounts ranging from 40,000 to 70,000 yuan. Its entry-level model is now priced at around 70,000 yuan, and a model that once sold for over 220,000 yuan has been reduced to just over 160,000 yuan, driving a surge in sales to 500,000 units in November.

Subsequently, Tesla and BMW drastically reduced the prices of their electric vehicles, causing a huge impact on the automotive industry. As a strong player in the fuel vehicle market, BMW also reduced the prices of its fuel vehicles, putting even more pressure on other fuel vehicle manufacturers to follow suit and reduce prices. After all, sales are a goal that no company can ignore.

As the world's leading automaker, Toyota naturally followed suit quickly. Toyota had already made significant price reductions earlier, but sales remained unstable. Sales in the Chinese market declined by 10% in the first nine months. Now, at the critical year-end sales rush, Toyota has further intensified its price reductions.

It is reported that the price of the Toyota Corolla Levin has been reduced by up to 36,000 yuan, with the low-end fuel version now priced at only 77,800 yuan, equivalent to a 32% discount on the listed price of 113,800 yuan. The Asia Dragon has also seen a price reduction of 39,000 yuan. It is evident that Toyota is not intimidated by the price war in the automotive market. After all, nearly 80% of its sales come from markets outside China, allowing it to sustain the price war in the Chinese market by earning profits from other markets.

For consumers, the aggressive price reductions and promotions by many car companies have undoubtedly brought significant benefits. Once high-end models are now available at bargain prices. Foreign car companies that once refused to reduce prices are now offering discounts of tens of thousands of yuan. The price of a low-end car can now buy a mid-range car. As the year-end sales rush intensifies, prices have dropped to record lows. It can be said that now is the best time for consumers who are interested in buying a car.