BYD has cut the price of its cheapest car in China, the Seagull, by 5%.
It now starts at CNY69,800 (US$9,700), Reuters reported.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The news agency noted BYD had become a “relentless discounter” in the price war started by Tesla China last year and had led to it dethroning its rival as the globe’s biggest seller of electric vehicles.
A series of 2024 price cuts included a 12% drop for the Yuan Plus crossover [aka Atto 3 for export].
Reuters said sales (including exports) of new energy vehicles were expected to rise 13% to 11.5m this year, considerably less than the 38% rise 2023.
Tesla, Geely, GAC Aion, Leapmotor and Xpeng have also joined in battle with price cuts, the report added.
