Recently, according to domestic media reports, the Wangchao series of products in BYD exhibition halls in Beijing and Shanghai have been discounted and the delivery period has been shortened to varying degrees compared to last year. However, BYD has not yet officially announced the discount through official channels.
A salesperson at a BYD Wangchao exhibition hall in Beijing said that they had just received an official announcement regarding the price adjustment, with most models being discounted. The discount for some old models is more than 10,000 yuan, and some popular current models also have discounts of over 1,000 yuan. The salesperson said, “For example, the 2021 Han EV has been reduced by 20,000 yuan, the 2021 Qin EV has been reduced by 15,000 yuan, and the new models are generally discounted between 6,000 and 8,000 yuan.”
The above price reductions are limited to the Beijing region and are expected to end in March. Shanghai and Shenzhen also have different levels of price cuts, but the discount is mostly around 10,000 yuan.
The Ocean series is not involved in this price reduction promotion. BYD Ocean exhibition halls in Beijing, Shanghai, and Shenzhen have all stated that there have been no price changes for the entire series, and they have not received any notification of price adjustments. The main reason for the price reduction by BYD may be due to the pressure of Tesla’s price reduction and the short-term decline in sales. Sales data show that in January of this year, BYD’s cumulative sales of new energy vehicles were 151,300, a 35.65\% decrease compared to the same period last year.
This is the first reduction in price this year, which also sends another signal that for BYD, stabilizing its existing market share in 2023 may be a more important task than maintaining profitability.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.