The guide price of some BYD models has been raised by 2,000 to 6,000 yuan

01/01/2023
On December 31, BYD Auto’s official Weibo announced that it will increase the official guide prices of some models by 2,000 to 6,000 yuan from January 1. In November, BYD announced that it would increase the price of new energy models such as Dynasty, Ocean and Denza. BYD stated that the reason for this round of price increases is that the new energy vehicle purchase subsidy policy will end on December 31, 2022. At the same time, the prices of main raw materials for batteries have risen sharply since the second half of last year. | Related reading (Daily Economic News)

Monkey K

The price increase after the cancellation of new energy vehicle subsidies is not considered a corporate behavior. However, if subsidy factors are excluded and car dealers still raise prices, it shows that BYD is still very confident. After Tesla’s localization, there have been many price cuts and few price increases. The latest price adjustment has even lowered the popular Model Y to less than 300,000 yuan, which can be described as a price killer.

After the withdrawal of the new energy vehicle subsidy policy, the product competitiveness of enterprises has become the core factor that determines survival and development. After Tesla lowered the price before, the new forces have also given certain discounts on the terminal, which can be regarded as keeping up with Tesla’s rhythm. The actual discount rate of BYD may depend on the specific price of the terminal.

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