BYD is joining the Chinese price wars with price cuts to the Song Plus line-up and Seal for the rest of March. The price cut will be in the form of a discount rather than a change to the MRSP of the vehicle.
On the company’s Weibo account, BYD announced a discount of RMB 6,888 on the Song Plus line-up. At the same time, the Seal has an RMB 8,888 discount, according to the China Evening Post.
BYD also confirmed that the Song discounts are only eligible on the Song Plus Dm-I and the Song Plus EV. While the hybrid Song Pro and Song Max do not currently qualify for the discount.
Per the Weibo post, this is a limited-time discount valid only from March 10 until March 31. However, with the ever-competitive Chinese EV market, these prices could become the new norm for the company.
Tesla’s price slashes earlier this year started an avalanche effect in the Chinese EV market. Since the Tesla slash in January 2023, we have seen Xpeng, Nissan, Toyota, Dongfeng, and now BYD adjust their pricing. This price-slashing trend is probably not going away anytime soon, with BYD, Geely, XPeng, NIO and Li Auto all releasing more affordable EV models over the next twelve months.
