Etiqueta: Great Wall

BYD's aggressive price cuts are rattling China's EV giants. Margin squeeze and fierce competition threaten the sector's future.

China’s electric vehicle (EV) giant BYD Co. has ignited a fresh wave of competition in the world’s largest auto market by slashing prices by up to 34% on 22 electric and plug-in hybrid models.

BYD has shocked the new car marketplace in China by slashing prices on its cars by up to 34%. Is it playing the long game?

BYD Stock Dives as Dealer Inventory Overhang Prompts Heavy Discounts

BYD’s fresh price cuts have reignited China’s fierce EV price war, sending stocks of major local automakers tumbling.

Manufacturers are continuing to slash prices and offer premium features to lure in customers

China's commerce ministry will meet with industry bodies and automakers to discuss the sale of used cars that have never been driven, Reuters reported.

SHANGHAI (Reuters) -China's commerce ministry will meet industry bodies and automakers including BYD and Dongfeng Motor to discuss increasing sales of "used cars" that were never driven, a person with direct knowledge of the matter said. The meeting is set for Tuesday afternoon, the person said, speaking on condition of anonymity as details of the meeting were confidential. It comes after Great

SHANGHAI (Reuters) -China's commerce ministry will meet industry bodies and automakers including BYD and Dongfeng Motor to discuss an emerging trend of sales of "used cars" that were never driven, a person with direct knowledge of the matter said. The meeting is set for Tuesday afternoon, the person said, speaking on condition of anonymity. It follows last week's comments by Great Wall Motor's

SHANGHAI (Reuters) -Shares in Chinese automakers such as BYD, Nio and Geely tumbled on Monday after industry leader BYD offered fresh incentives on over 20 models and the CEO of Great Wall Motors warned that the world's largest auto industry was in an unhealthy state. The Hong Kong-listed shares of BYD Co Ltd closed 8.6% lower, while Geely Auto fell 9.5%. Chinese electric vehicle giant BYD over the weekend announced a fresh round of subsidies and incentives for more than 20 models, which reduced the starting price of its cheapest model, the pure battery-powered Seagull hatchback, to 55,800 yuan ($7,765).