Day: January 28, 2021

BMW cuts prices for its China-made electric SUV by $10,000

A BMW iX3 electric SUV is on display during 2020 Beijing International Automotive Exhibition (Auto China 2020) at China International Exhibition Center on September 26, 2020 in Beijing, China.

Visual China Group | Getty Images

BEIJING — German automaker BMW has cut prices for its all-electric iX3 SUV in China, bringing the car into closer competition with vehicles from Tesla and Chinese start-ups like Nio.

BMW’s website said as of Thursday, the recommended retail price for the iX3 will start at 399,900 yuan ($61,713).

That’s down 70,100 yuan — or about $10,800 and 15% cheaper — versus the original price of 470,000 yuan announced in September.

“For its size the iX3 would be competing directly vs. the Tesla Model Y & NIO ES6 which both have starting prices substantially less than the iX3 prior to this cut, so BMW must’ve seen softness in the demand for the iX3 at that

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