Lexus dealership fined 100,000 yuan for falsely comparing Tesla’s resale value

Lexus dealership fined 100,000 yuan for false resale value comparison with Tesla

【Phoneauto News】According to Tianyancha App, recently, Shanghai Dongchang Lingzi Automobile Sales Service Co., Ltd. was fined 100,000 yuan by the Pudong New Area Market Supervision and Administration Bureau for fabricating and disseminating false or misleading information, damaging the reputation of competitors’ products.

The reason for the punishment shows that during the inspection, law enforcement officers found that the company’s on-site display board compared the residual value rate of the Lexus electric car RZ450 with that of other vehicles such as Model 3, Model Y, Xiaopeng P7, Li Xiang ONE, and NIO ES6. The displayed residual value rate of the Lexus electric car was significantly higher than that of other vehicles, but the company was unable to provide the source of the data and did not indicate the relevant time period.

• Volkswagen considers selling non-core investment portfolio worth over 15 billion euros
• Volvo will stop producing diesel cars in early 2024! The company’s CEO praises electric cars
• Ideal L7 roof rack officially launched on Ideal Mall, special car customization, selling at 2999 yuan

The law enforcement officers obtained and compared the relevant vehicle data from the China Automobile Dealers Association related to used car apps, and found that the residual value rates displayed by the company for other brands were lower than the aforementioned data. The data presented by the company is inaccurate and lower than the objective reality, which constitutes behavior that undervalues other brand models.

Tesla and Xiaopeng Li are representative brands of new energy vehicles. Currently, their sales have caught up with the top tier of traditional luxury car brands, BBA. According to the latest weekly sales figures released by Li Xiang Automobile, from September 11th to September 17th, Li Xiang Automobile sold 9,100 vehicles, NIO sold 3,900 vehicles, and Xiaopeng sold 3,600 vehicles. In the weekly sales ranking of luxury car brands in China, Mercedes-Benz, BMW, and Audi still occupy the top three positions, with sales of 16,300 vehicles, 15,300 vehicles, and 14,000 vehicles respectively, followed closely by Li Xiang, Tesla, and NIO, and then Lexus with 3,300 vehicles.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!