Chinese EV Brand BYD Slashes Prices

It’s no secret Chinese automakers like BYD are able to produce and sell cars are significantly lower prices than most if not all foreign competitors. However, it was shocking when BYD, which only offers electric vehicles in China and other markets, announced it’s slashing its already low prices on entry-level models.

In the meantime, Aston Martin is looking to bring back an old feature.

It’s also no secret that BYD has been wanting to enter the US car market, although both the Biden and Trump administrations have taken steps to ensure that doesn’t happen. However, the news that buyers can now get a brand new EV for under $10,000 seems to have whet the appetite of certain American consumers.

In turn, there’s a rumor Tesla is working on the Model Q. It would be based on the popular Model Y crossover, only stripped down and cheaper.

The move by BYD not only is to undercut domestic competitors but also for edging out foreign brands like Tesla. Some have argued the move will have far-reaching consequences not only for the Chinese market and other parts of the world where BYD has a presence, but also here in the US.

What’s more, BYD recently announced all of its EVs that start at $13,688 and above come with the “God’s Eye” advanced driver assistance technology as standard equipment. While that also has excited some, we’ve found here in the United States quite a few drivers actually resent advanced assistance technologies.

Plus, calling it “God’s Eye” when we all know there’s the very real chance everything recorded by the system is fed to the Chinese Communist Party takes on an ominous sheen for many American consumers.

That brings us back to the cost factor. Despite what some people really want to believe, few if any consumers buy a car based strictly on price. Had that been the case, the Mitsubishi Mirage would’ve been the top-selling vehicle in America. Instead, despite the low price tag, consumers passed that over for more expensive options.

In developing countries where BYD is a force, consumers are more price sensitive. But in the US market people also want value, not just cheap. We know cheap cars oftentimes aren’t just inexpensive but are built cheaply. Plus, when the vehicle in question is very closely tied to an authoritarian communist regime that’s made it clear it wants to see the destruction of “the American empire” we just don’t think that’s going to appeal to most American consumers.

Still, BYD would very much love to enter this market. Even if it were successful, we question how long it could hang in what’s arguably the most competitive market in the world.

Image via BYD