Sales of the Frigate 07 continued to grow in the initial five months of its launch, reaching 10,003 units in April. However, the model's sales have seen significant drops in the past two months.
BYD is offering limited-time incentives on the Frigate 07 after the SUV saw two consecutive months of declining sales.
Customers who buy the Frigate 07 between August 1 and September 30 can get a discount of RMB 8,800 ($1,230), according to a poster posted by BYD on Weibo today.
In addition to that offer, customers who buy the model will also get an RMB 5,000 trade-in allowance for their old car, a free home charger, and a free internet connection for 2 years.
BYD officially launched the Frigate 07 in China on December 9, 2022, a plug-in hybrid (PHEV) in its Ocean series.
The Frigate 07 is currently available in six variants in China, with a starting price range of RMB 202,800 to RMB 288,900.
The model overlaps considerably with the price range of BYD's flagship SUV Tang family models, which currently have a starting price range of RMB 209,800 to RMB 331,800.
The Tang is part of BYD's Dynasty lineup and has been on the market for several years. Compared to it, the Frigate 07 is sleeker in design.
Sales of the Frigate 07 continued to grow in its first five months on the market, from 1,805 in December last year to 10,003 in April.
In May, the model sold 10,005, essentially flat from April.
In the past two months, sales of the Frigate 07 have declined significantly, falling to 8,037 in June and further to 4,501 units in July, data monitored by CnEVPost show.
BYD delivered a record 262,161 vehicles in July, with the Song and Qin families contributing the most, at 51,258 and 44,695 respectively.
($1= RMB 7.1748)