IM Motors and Leapmotor have started to offer new discounts on some of their models.
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Category: price war
BYD shares were down 6.53 percent in Hong Kong and 3.89 percent in Shenzhen at press time.
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Analysts believe BYD's price discounts could lead to further price competition in China and spark more rivals to follow suit.
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Lynk & Co is offering limited-time discounts of up to RMB 17,000 on two hybrid models.
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Arcfox has drastically reduced the official guide prices of 2 models and offered a limited time discount for another.
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Onvo continues to offer a zero down payment, three-year interest-free financing program and additionally began offering option discounts.
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The discount, available this month, reduces the starting price of the IM L6 by 13.64 percent to RMB 189,900.
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Almost simultaneously with Tesla, Xpeng announced a zero-down payment, up to five-year zero-interest financing to boost sales in the slow season.
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Tesla is offering RMB 8,000 ($1,100) in insurance subsidy for the Model 3, restarting a promotional tool it has used many times previously on the first working day of the Year of the Snake in the Chinese lunar calendar.
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China's auto market saw 227 models with price cuts in 2024, more than 148 in 2023 and significantly higher than 95 in 2022, according to CPCA secretary-general.
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