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.
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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.
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