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BYD overcomes China’s intense EV price war as record car sales lead to Q2 profit surge

Baua Electric

Despite slashing prices and launching more affordable EVs, BYD’s bottom line nearly doubled from the first three months of 2023 (+98%). Despite the profit growth, BYD’s gross margins slipped 3% from Q1 (21.88%) to 18.69% amid China’s intensifying EV price war. We are already seeing it play out, with BYD topping Honda and Nissan in Q2.

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BYD slashes price on its best-selling SUV to $16K to compete with gas cars

Baua Electric

The Atto-3 SUV / Source: BYD Europe After recently reducing prices of its refreshed Han and Tang models , Build Your Dreams (BYD) just launched a new version of its top-selling EV Yuan Plus – known as the Atto 3 in overseas markets – to $16,644 in China, making it one of the lowest-priced EVs out there. Get started here.

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