(Yicai) Sept. 2 -- SAIC-GM announced that the joint venture between China’s SAIC Motor and the US General Motors will offer buyers who purchase its flagship model this month a discount of CNY10,000 (USD1,400).

The Buick Envision Plus’ full price is CNY169,900 (USD23,800). But after the CNY10,000 discount and the national subsidy of CNY15,000, buyers who purchase the model by Sept. 30 will pay only CNY144,900.

Since SAIC-GM adjusted its pricing model and adopted a clear fixed pricing strategy in August last year, sales of the Buick Envision have shown signs of recovery, also driving a rebound in sales of other SAIC-GM models. However, it remains uncertain whether discounting the Buick Envision Plus will encourage more consumers to buy.

SAIC-GM achieved sales of 44,000 units last month, up 177 percent from a year earlier, according to data released by SAIC. The JV’s total sales in the first eight months of the year rose 29 percent to 330,000 units from the same period last year, thanks to a solid rebound since May.

In addition to adopting a new pricing strategy, SAIC-GM has also increased investment in new energy vehicles and intelligent technologies. In April, Buick launched its new high-end NEV brand Electra, planning to release five models over the next eight months, including the upcoming Electra L7.

In the era of fossil fuel vehicles, the Buick Envision was once a benchmark midsize sport utility vehicle among JV brands, with annual sales surpassing 300,000 units in 2017 at its peak.

However, with the arrival of the electrification era, the market share of JV brands began to fall, and the Buick Envision, along with other fossil fuel vehicle models under SAIC-GM brands, experienced a sharp decline.

Editors: Tang Shihua, Futura Costaglione