1 year ago

Chinese EV Brands Zeekr, Neta Allegedly Inflated Car Sales

Chinese EV Brands Zeekr, Neta Allegedly Inflated Car Sales
China EV brands Zeekr, Neta inflated car sales using insurance scheme · livemint.com

Imagine car companies are trying to sell lots of cars.

Some companies, like Neta and Zeekr, may have been counting cars as sold before people actually bought them.

They did this by buying insurance for the cars first.

This helped them show they were selling more cars than they really were, to meet goals.

This is like pretending you finished a race before you actually crossed the finish line.

Now, the government and some newspapers are looking into this to make sure everything is fair in the car business.

Key facts

Companies Involved
Neta and Zeekr
Sales Inflation Method
Pre-purchasing insurance
Neta Inflated Sales
At least 64,719 cars (Jan 2023-March 2024)
Zeekr's Dealer
Xiamen C&D Automobile
Industry Response
Regulatory concerns and potential clampdown on practice

Sources

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