Customers who buy the Frigate 07 between January 1 and January 31 will get a discount of RMB 18,000, which is up to RMB 7,000 for the Seal series.
(Image credit: CnEVPost)
China's largest new energy vehicle (NEV) maker BYD (OTCMKTS: BYDDF) continues to offer limited-time discounts on some of its models in an attempt to boost sales while avoiding an overall price cut.
Customers who buy the Frigate 07 between January 1 and January 31 will get a RMB 20,000 ($2,820) reduction on the final payment after paying a RMB 2,000 deposit, which translates to a discount of RMB 18,000, according to BYD's website.
BYD is also offering incentives for the Frigate 07 including a RMB 5,000 trade-in subsidy and a 3-year 0 percent interest loan.
The Frigate 07 was officially launched on December 9, 2022, with a current price range of RMB 202,800 to RMB 299,800 yuan.
The BYD Seal series is also being offered with limited-time incentives, albeit at a lower magnitude than the Frigate 07.
Customers who purchase a Seal battery electric vehicle (BEV) between January 1 and January 31 can receive a RMB 9,000 reduction on the final payment after paying a RMB 2,000 deposit.
For the hybrid Seal DM-i, customers can receive RMB 7,000 off the final payment after paying RMB 2,000.
Initially launched in China on July 29, 2022, the BYD Seal is a BEV that was seen as one of the strongest rivals to the Tesla Model 3 in China. The Seal BEV's current price range is RMB 189,800 to RMB 279,800.
BYD rebranded the Chaser 07 as the Seal DM-i on July 14, seemingly hoping to capitalize on the Seal's greater popularity.
The Seal DM-i was officially launched on September 6, with a current price range of RMB 166,800 to RMB 236,800.
The Frigate 07 and the Seal family are models in BYD's Ocean series. The BYD brand's model range consists of the Dynasty series, which is dominated by plug-in hybrid (PHEV) models with DM technology, and the Ocean series, which is dominated by BEV models.
BYD has typically announced discounts on a number of models on the first day of each month over the past few months, though often involving different product arrays, such as the promotion announced on December 1, which was dominated by Dynasty series models.
BYD sold 301,903 NEVs in November, up 31.02 percent year-on-year and essentially flat from October's 301,833 units, according to data it announced on December 1. In the January-November period, BYD sold 2,683,374 NEVs, up 64.8 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 will likely announce its NEV sales for December later today.
($1 = RMB 7.0999)
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