China Auto Daily丨Chery Commences All New QQ3 Smart EV Pre Sales

Chery Commences Pre-sales for the All-New QQ3 Smart EV

Chery has officially opened pre-sales for the 2026 edition of the all-new QQ3, offering four distinct configurations to the market. The pre-sale price range is established between RMB 68,920 (USD 10,000) and RMB 89,985 (USD 13,000). Despite its entry-level positioning, the QQ3 is heavily equipped with high-end technology, featuring the "AI Lingxi" smart cockpit and a 15.6-inch central control screen powered by a chipset delivering 128 TOPS of computing power. The vehicle offers a CLTC range between 300km and 400km, catering to diverse urban commuting needs. Notably, the model includes the "Falcon 500" assistance system, which supports advanced features such as Urban Navigation on Autopilot (NOA) and full-scene automated parking.

February Automotive Retail Dips While Exports Experience 56% Growth

Data released by the CPCA (China Passenger Car Association) on March 12 indicates a complex month for the domestic automotive market. Domestic retail sales in February reached 1.043 million units, representing a 25.9% decline year-on-year and a 33.1% decrease from the previous month. Cumulative retail sales for the year stand at 2.578 million units, down 18.9% compared to the same period last year. In stark contrast, the export sector showed remarkable resilience. Passenger car exports, including both complete vehicles and CKD units, reached 555,000 units in February, marking a substantial year-on-year increase of 56.0%.

UBS Report Suggests Rising Oil Prices Improve EV Cost Competitiveness

UBS released a new research report on March 12, analyzing how the current Israel-Iran-Israel conflict is impacting the global automotive market. The firm noted that the current volatility is highly similar to the outbreak of the Russia-Ukraine war in 2022, where surging oil and lithium prices simultaneously pushed up both the operating costs of fuel vehicles and the manufacturing costs of electric models. Based on the latest spot price estimates compared to Autumn 2025, the manufacturing costs for Battery Electric Vehicles (BEVs), Range-Extended Electric Vehicles (EREVs), and Plug-in Hybrid Electric Vehicles (PHEVs) have risen by RMB 7,000 (USD 1,000), RMB 6,000 (USD 900), and RMB 5,000 (USD 700) respectively. Meanwhile, internal combustion engine (ICE) vehicle costs rose by RMB 3,000 (USD 400). However, if oil prices sustain current levels, ICE vehicles face an additional annual operating cost of approximately RMB 2,000 (USD 300). According to UBS, this improved economic viability for electric models helps offset the pressures from the 2026 phase-out of stimulus policies and new purchase tax implementations.

*(Exchange rate: RMB 6.9 = USD 1)*