With just a few hundred dollars, Chinese people can easily purchase a mobile phone. But how much would they spend on a new car? 100,000, 80,000, or 50,000 yuan? These numbers are now constantly being updated as the market evolves rapidly. On October 12, Geely introduced an affordable car model called the "Bright Star" priced at just 29,999 yuan, available in cities like Tianjin, Chengdu, and Guangzhou. Can ordinary people really afford such a low-priced vehicle? The 29,999-yuan car has sparked widespread attention across various sectors.
In fact, there are already several economic cars on the domestic market that are priced around 30,000 yuan. For instance, the Changan Alto with an automatic transmission is sold for 33,800 yuan, with some dealers offering discounts. When reporters interviewed Geely’s sales team, they mentioned that three years ago, the company launched a three-cylinder EFI Marshal priced below 50,000 yuan. Now, cars priced under 30,000 yuan reflect a long-term strategy of market adjustment and price competition.
According to experts from Nanjing Huitong Automobile, after half a year of intense price cuts, the prices of domestically produced economy cars have been pushed to the brink, nearly reaching cost levels. The launch of the 29,999-yuan Geely car comes amid increasingly fierce price wars. Some analysts suggest that the drop in prices might be due to the use of cheaper parts. The internal structure and radio system of the Geely Pride Star have been hacked, supporting this theory.
Geely’s ambition to capture the budget market is clear. When the 29,999-yuan car was launched, the public reaction was stronger than expected. Some online forums praised Geely, claiming it had ended China’s high-profit auto era. As the “first private car brand,†Geely also promoted national pride by introducing a range of popular economical models. One consumer message read: “Geely is for the people—go and withdraw immediately!â€
However, not all consumers were impressed. Some questioned the safety of such a low-cost car. While Geely claims their vehicles meet safety standards, others pointed out that the car lacks airbags. Some rational consumers argue that safety is relative and shouldn’t be compared directly with high-end cars. They also said they wouldn’t risk their lives for a few thousand yuan.
Other car dealers remained indifferent. A Mazda sales manager in Jiangsu stated, “Each car has its own price, and safety is relative. This car isn’t competitive—it just adds another option.†Another sales manager bluntly said that cars over 20,000 yuan are basically just four-wheeled motorcycles with a shell.
The trend of falling car prices has left many consumers feeling uneasy. Many are still unfamiliar with the long-term costs of car ownership, but they’re drawn in by the constant price drops. As one consumer put it, “Every time I see a car price drop, my heart hurts.â€
Industry insiders believe that in the current sluggish auto market, cautious consumer behavior has become a challenge for manufacturers. Geely’s CEO mentioned that the company aims to sell 20,000 units this year—equivalent to one-fifth of private car ownership in Nanjing. Their confidence stems from the anticipation of the 2006 auto policy opening up the market, which tempted many to delay their purchases.
For working-class consumers, low-priced cars offer a way to avoid the hardships of daily commuting and the pain of watching other car prices fall. However, traffic accident statistics show that medium and high-end cars have fewer and less severe crashes compared to economic models. The safety of the Geely Bright Star, which isn't allowed on highways, may be similar to other budget cars.
Some worry about insurance coverage for such low-priced vehicles. Ping An Insurance representatives confirmed that even with low prices, insurers will still cover them, though premiums and payouts will be lower. Despite lacking features like a car radio, DVD player, leather seats, or electric mirrors, the 29,999-yuan car forces consumers to choose between comfort and affordability based on their wallet and mindset.
Fuel Commercial Vehicles,Qingling Fuel Solutions,Qingling right-hand drive vehicles
Chongqing Dike Technology Industry Co. , Ltd. , https://www.cqdkqc.com