Chinese EV brand gaining luxury market share

The Land Rover Defender's recent price cut is indeed severe. The 110 HSE has dropped directly to 728,000 yuan from an original price of 899,000 yuan, a reduction of over 170,000 yuan. This is a vehicle that previously required queuing with added premiums; now it is actively offering discounts. Jaguar Land Rover's limited-time price reduction runs until the end of September, with 728,000 yuan being the "starting" price, meaning the actual transaction price is still negotiable. BBA started cutting prices early this year. BMW officially reduced prices on 31 models at once, the Audi A3's dealership price fell below 100,000 yuan, and Mercedes-Benz followed suit. With even them cutting prices, what pretense does Land Rover have left to maintain? This isn't about them not wanting to play scarcity marketing; they simply can't anymore. Domestic new energy brands like AITO, Li Auto, and NIO have torn open the market above 400,000 yuan. When consumers do the math—spending less money for better intelligent experiences—why add premiums and wait for fuel vehicles? The data is also grim: retail sales of fuel vehicles in June 2026 plummeted by 39% year-on-year, and the inventory coefficient for premium brands hit 1.99, long exceeding the 1.5 warning line. Jaguar Land Rover itself is struggling—it has already lost over 200 million pounds in the 2026 fiscal year. The Range Rover, Range Rover Sport, and Defender account for 70% of its sales; if they continue to hold firm on prices without cuts, the entire brand could collapse. The days of adding premiums and waiting for cars are over. It's not that luxury brands don't want to employ scarcity marketing; the market simply no longer gives them the opportunity.