Consumers who order BYD's Song Plus lineup this month will receive a discount of RMB 6,800, or RMB 8,800 for the Seal.
(Image from BYD's Weibo)
As the price war intensifies in China's auto industry, BYD has also started offering discounts for its two models, even though the official prices remain unchanged.
Starting tomorrow, consumers who order BYD's Song Plus lineup can get a discount of RMB 6,800 ($980), or RMB 8,800 for the Seal, according to a BYD Weibo post today.
This is a limited-time marketing campaign valid from March 10 to March 31, BYD said.
BYD did not provide more details, but the Song family, as well as the Seal, are among its best-selling models.
BYD sold 193,655 new energy vehicles (NEVs) in February, including 191,664 passenger cars and 1,991 commercial vehicles, the company said in figures released on March 1.
Song family models sold 52,400 units in February, BYD's highest sales in the month, contributing 27 percent of all its passenger car sales.
Song family models include the hybrid Song Pro and Song Max, both of which are part of BYD's Dynasty lineup.
The family also includes the hybrid Song Plus DM-i and the all-electric Song Plus EV, which are part of BYD's Ocean series.
BYD announced today that the offer is limited to these two Song models in the Ocean series, as well as the Seal.
BYD's Seal sold 7,754 units in February, which was up 17.17 percent from 5,043 units in January. The model went on sale on July 29, 2022.
Since the end of last year, several EV makers have cut prices, including Tesla and XPeng (NYSE: XPEV).
Earlier this month, authorities in central China's Hubei province joined forces with a number of local car companies to offer subsidies for consumers to purchase vehicles, with some models offering subsidies of up to RMB 90,000, marking the open entry of fuel models into the price war.
The first to participate are the Dongfeng Motor family of brands, including Dongfeng Honda, Dongfeng Nissan, Dongfeng Citroen, Dongfeng Peugeot and Dongfeng Aeolus, with the Dongfeng Citroen C6 offering a combined subsidy of up to RMB 90,000.
($1 = RMB 6.962)
Automakers in central China's Hubei offer hefty subsidies as sales pressure mounts
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The price cuts are promotions by some dealers in some areas, and BYD is not considering cutting prices at the moment, a company source said.
This is BYD's first price cut this year, meaning that keeping market share stable in 2023 may be more important than maintaining profit margins.
The Nissan Ariva was officially launched in China on September 27, 2022, and Nissan said at the time that it was the first global model under its Nissan Next strategy.