If last year cars were getting more expensive due to a shortage of components due to the closure of enterprises due to the spread of COVID-19, then in 2022 cars are going up in price already due to Ukrainian events that led to an increase in the cost of materials. So, by the beginning of March, the cost of one ton of aluminum reached $3,400, although as of mid-December 2021, the price was at $2,600. Therefore, cars are becoming more expensive in various countries, including China. As a recent example, electric car manufacturer NIO raised the price of its cars by 10,000 yuan at once, or about $1,500.
The ES8, ES6 and EC6 models have added in price, but the latest ET7 and ET5 (these are Tesla Model S and Model 3 competitors, respectively) have not yet risen in price. NIO is at the forefront of China’s electric vehicle industry, delivering almost 91,500 electric vehicles to the market last year, almost twice as many as shipped in 2020. NIO is expected to bring about 26,000 electric vehicles to the market in the first quarter of this year.
Source: ixbt
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