On Feb. 19, 2024, BYD rolled out a new version of its budget Qin car, bringing the price tag of the popular lineup down by 11% to RMB 79,800. Credit: BYD
BYD has rolled out cheaper versions of its popular Dynasty and Ocean electric vehicle series in the last two days, making de facto retail price reductions of between 7% and 14%, a move that could put more pressure on rivals to follow suit. China’s biggest EV maker said Thrusday it will sell the Honor Edition of the plug-in hybrid version of the Seal sports sedan with a starting price of RMB 149,800 ($20,822), compared with the RMB 166,800 price tag of the so-called Champion Edition launched last May. In a related move, the base price of its best-selling Song Plus has been lowered to RMB 129,800 from RMB 149,800 with the launch of a PHEV trim that can go 71 kilometers (44 miles) on battery power alone. Meanwhile, the other new variants of the five-seater SUV are now priced RMB 20,000 lower than their 2023 counterparts. The price cuts come just one day after the automaker began offering cheaper versions of its higer-priced Han sedans and Tang sports utility vehicles, which now start at RMB 169,800 and RMB 179,800, reductions of 10.5% and 14.3% respectively from their previous prices. BYD’s action on Feb. 19 kicked off a price war in the Chinese car market when the company launched a version of its budget Qin compact sedan with a base price that was RMB 10,000 less than the regular model. [TechNode reporting]
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