BYD today announced promotions focused mainly on models in its Dynasty lineup, aimed at encouraging owners of traditional fuel vehicles to switch to the company's NEVs.
(Image credit: CnEVPost)
BYD (OTCMKTS: BYDDY) continued its wide-ranging promotions for a number of models, after starting the move last month.
The largest Chinese new energy vehicle (NEV) maker today unveiled limited-time promotions available for December, covering the full range of its Dynasty lineup, as well as one model in its Ocean lineup.
The BYD brand's model lineup includes the Dynasty series, which is dominated by plug-in hybrid (PHEV) models with DM technology, and the Ocean series, which is dominated by battery electric vehicle (BEV) models.
Below are the promotions for the Dynasty series models announced by BYD on Weibo today, and they're all only available from December 1 to December 31.
It's worth noting that most of the discounts will require customers to trade in their traditional internal combustion engine (ICE) vehicles, as BYD looks to capture more share from the fuel vehicle market.
The Qin DM-i and Qin EV both offer a RMB 10,000 ($1,400) discount.
The Han DM-i and Han DM-p are offered with a RMB 10,000 discount, while the Han EV is offered with a discount of up to RMB 20,000.
Tang DM-i offers up to RMB 15,000 off, Tang EV and Tang DM-p offer up to RMB 10,000 off.
Song Pro DM-i offers up to RMB 10,000 off, Song MAX DM-i offers RMB 10,000 off.
Yuan Pro offers RMB 6,000 off and Yuan Plus offers RMB 3,000 off.
In addition to these Dynasty series models, the Seal DM-i in Ocean series is offering a RMB 5,000 discount this month.
With the promotions, the starting price of the hybrid Qin Plus DM-i has been further reduced to RMB 89,800, which is expected to attract more price-sensitive ICE vehicle owners to switch to the BYD model.
BYD launched the Qin Plus DM-i 2023 on February 10, with a starting price range of RMB 99,800 to 145,800 yuan.
This is the first time BYD has allowed the starting price of a model equipped with its DM-i powertrain to fall below RMB 100,000 yuan. The previously on-sale Qin Plus DM-i's was released in March 2021 with a starting price range of RMB 105,800 to RMB 145,800.
BYD sold 301,833 NEVs in October, the first time it has exceeded the 300,000-unit mark and the sixth consecutive month of record highs, according to data released by the company last month.
In the January-October period, BYD sold 2,381,471 NEVs, up 70.36 percent year-on-year.
BYD aims to sell at least 3 million vehicles this year and strives to reach 3.6 million, the company's chairman and president Wang Chuanfu said in late March.
BYD's Dynasty lineup sold 137,827 units in October, up 3.01 percent from September but down 17.88 percent from a year earlier, according to data monitored by CnEVPost.
Its Ocean lineup sold 151,749 units in October, up 8.52 percent from September and 207.61 percent year-on-year.
The company is expected to announce November NEV sales later today.
($1 = RMB 7.1368)
