BYD's average selling price from January to July reached RMB 151,800 ($23,423), surpassing Volkswagen's RMB 147,800, according to a report by automotive industry research firm WAYS.
In July, BYD's cars reached an average selling price of about RMB 156,000, nearly RMB 10,000 higher than VW's, according to the report.
(Image source: Sina Auto)
By comparison, WEY, a brand owned by Great Wall Motor that also targets the high-end market, has an average selling price of around RMB 100,000.
Geely's premium brand Lynk & Co has an average selling price of RMB 127,400, which is lower than BYD.
The increase in BYD's average vehicle selling price is due to the rapid growth in sales of its new energy vehicles, which are significantly more expensive than its array of fuel-fired vehicle offerings.
It is worth noting that since BYD has applied its latest DM-i technology to its hot-selling models Qin and Song, their prices are also rising.
Among them, the starting price of Song PLUS DM-i is RMB 146,800, which can match the selling price of traditional energy compact MPVs of some Chinese and foreign joint venture brands.
In addition, the new Tang with DM-i technology has been priced at RMB 200,000.
However, in terms of sales, BYD is still far below VW's sales in China.
BYD passenger cars sold 58,310 units in July, compared to SAIC Volkswagen's 11,001 units and FAW-Volkswagen's 11,211 units, according to China Passenger Car Association.
(Photo source: BYD)
