China’s BYD sees shares plunge 8% as EV maker cuts prices

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BYD’s shares fell as much as 8.25% Monday after the company cut prices on 22 electric and hybrid models, including slashing the Seagull hatchback price by 20% and the Seal sedan by 34%. The price cuts, effective until June, sparked a surge in dealership foot traffic but also raised concerns of a price war in China’s auto sector. Other automakers’ shares, including Geely, Great Wall, Li Auto, and Xpeng, also declined, CNBC has reported. Despite the cuts, Citi analysts expect strong sales growth for new energy vehicles priced below 200,000 yuan, with competition remaining mild. read more: 👍 Like this video to stay informed about the latest developments in the electric vehicle industry. 💬 Comment below—do you think BYD’s price cuts will spark a long-term price war in the Chinese auto market? 🔗 Share this video to highlight how EV pricing strategies are reshaping the global automotive landscape. 💰 Want to support the channel? Tap the YouTube Thanks button to help us continue covering crucial updates on the EV market and the future of transportation. 👉 Don’t forget to subscribe for more insights into electric vehicles, automotive innovation, and global market trends. Thanks for watching and being part of the conversation. 🚗⚡🌏 Links for B.C. Visit My Website Follow Me On Facebook / b.c.begley Subscribe To My Patreon / bcbegley Watch Me On YouTube / @b.c.begley6007 Follow Me On Twitter / bc_news1 Watch Me On Rumble Follow Me On Gab Follow Me On Truth Social Follow Me On BlueSky Watch Me On TikTok / bcbegley #BYD #ElectricVehicles #PriceWar #shorts