Archive — CN — technode
China’s Zeekr denies latest report of false sales
China's electric vehicle maker Zeekr has denied allegations of inflating sales figures by insuring cars before sale, stating that the vehicles in question were legally new for display. This came after a report claimed Zeekr was selling cars as 'used' without mileage. The China Association of Auto Manufacturers plans to curb this practice by prohibiting the resale of cars within six months of registration.
Key points
- Zeekr denied accusations of faking sales by selling insured vehicles.
- Allegations arose from a report by the China Securities Journal (CSJ).
- CSJ claimed Zeekr sold cars registered as 'used' for inflated sales figures.
- Chinese regulators are responding by proposing a six-month resale ban.
- Other companies like Neta are also under scrutiny for similar practices.
Why it matters
- The allegations reflect ongoing issues with transparency in the Chinese EV market.
- In late 2022, several Chinese automotive companies faced similar accusations.
- Regulatory scrutiny is increasing in China as part of a broader effort to ensure market integrity.
- The proposed crackdown may align with 2025 IT trends focusing on data accuracy and accountability.
Zeekr's denial of sale inflation accusations highlights persistent challenges in the Chinese auto industry, prompting regulatory actions aimed at enhancing market integrity and transparency among electric vehicle makers.