BYD boosts electric vehicle price war
BYD, the Chinese electric car manufacturer, has announced new low-cost variants of its Han sedans and Tang SUVs, deepening a long-running price war in the world's largest auto market with significant cuts compared to those in 2023.
The beginning price of Han sedan models offered as hybrids and pure electric vehicles has fallen by 10.35% compared to prior versions.
The beginning price of Tang hybrid SUV models has dropped by 14.3 percent compared to prior generations.
These items follow BYD's announcement of a new model of the Dolphin hatchback and a new model of the Qin Plus DM-i hybrid sedan last week, both at lower initial pricing than previous models.
Pricing shows that BYD is offering large reductions on the majority of these models compared to last year.
The carmaker decreased the beginning price of the Qin Plus DM-i electric variant by 15% and the Qin Plus DM-i hybrid model by 20%.
This comes after BYD cut the beginning costs of its electric and hybrid Qin Plus DM-i models by 8% and 11%, respectively, in 2023.
The starting price of the Tang hybrid SUV has not changed since 2022, when BYD debuted the Champion Edition of this model, however, the price of the new hybrid model of the Tang SUV for this year was reduced by 14 percent compared to the previous one.
The carmaker decreased the beginning price of the Qin Plus DM-i electric variant by 15% and the Qin Plus DM-i hybrid model by 20%.
This comes after BYD cut the beginning costs of its electric and hybrid Qin Plus DM-i models by 8% and 11%, respectively, in 2023.
The starting price of the Tang hybrid SUV has not changed since 2022, when BYD debuted the Champion Edition of this model, however, the price of the new hybrid model of the Tang SUV for this year was reduced by 14 percent compared to the previous one.
To enter the high-end market, BYD has developed New brands including Yangwang and Fangchengbao.
The Yangwang brand debuted the U9 super sports car, which starts at approximately $233,350.
Sales of new energy vehicles in China declined by 38.8 percent in January, compared to the previous month, the first such decline since August 2023, and despite Tesla's aggressive price campaign, demand is declining.
The Yangwang brand debuted the U9 super sports car, which starts at approximately $233,350.
Sales of new energy vehicles in China declined by 38.8 percent in January, compared to the previous month, the first such decline since August 2023, and despite Tesla's aggressive price campaign, demand is declining.
