Overview

• BYD reduced prices on 22 electric and plug-in hybrid models through end-June, cutting its Seagull hatchback to 55,800 yuan ($7,780).
• Hong Kong-listed BYD shares plunged over 8% on Monday, pulling down peers such as Geely, Great Wall Motor, Xpeng, Nio and Li Auto.
• Rivals including Geely, Stellantis-backed Leapmotor and state-backed Changan quickly followed with their own price cuts, deepening China’s ongoing EV price war.
• Citi analysts estimate the discounts drove a 30% to 40% surge in dealership foot traffic on May 24–25, but industry experts warn that eroded margins could force consolidation.
• Chinese brands gained traction overseas, with Auto Trader reporting 1.4 million advert views and a 5.3% UK market share for Chinese EVs in January–April 2025.