BYD will overtake Toyota and VW: Reduced prices on 100 models ᐉ News from Fakti.bg – Auto

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BYD will overtake Toyota and Volkswagen by offering modern cars at a very low price. According to Bloomberg, the Chinese automaker has cut prices on more than 100 of its electric and hybrid models.

For example, BYD’s new-generation Seagull hatchback now costs less than $10,000, and the manufacturer’s best-selling Qin Plus electric sedan costs less than $11,000, and experts say the Chinese will continue to cut prices.

BYD announced the beginning of an era called “electricity is cheaper than oil” and it is already a fact, as hybrid and pure electric models are as affordable as traditional internal combustion engine models, or even cheaper.

In total, BYD has already launched over 70 models with lower prices. According to Bloomberg, only the latest Yangwang supercar, which the Chinese hold as a flagship, has not become cheaper so far, and its value is 233 thousand dollars.

By lowering prices, BYD wants to persuade drivers to abandon gasoline cars and switch to electric cars and hybrids. Such an aggressive pricing policy poses a real threat to Toyota, Volkswagen, and all other manufacturers.

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