In response to the Tesla Model 3, BYD lowers the price of its Seal
This page is translated from the original post "En réponse à la Tesla Model 3, BYD baisse le prix de sa Seal" in French.
- 08/10/2024 10:42
Until now insensitive to Tesla’s pricing maneuvers, BYD is finally moving and lowering the price of its electric sedan Seal.
Reading BYD’s business strategy in France is not easy. The increase in customs duties in Europe since July 2024 has left the world’s largest electric car manufacturer seemingly unaffected. At least on the surface. In reality, its sales are slowing in its home market, as well as somewhat globally. The United States has erected a wall to prevent (or slow down?) its arrival, while in Europe and France, BYD insists that its prices will not be affected, or even reduced soon.
On the street, visibility remains very low, as the major offensive is still under construction. The compact Dolphin suffers from a polarizing design and a campaign to discredit its manufacturing quality. As for the Seal sedan, a true competitor to the Tesla Model 3, its pricing remains a puzzle. Certainly the vehicle is relevant, well-finished, and very performant, but in France, it costs twice as much as in China. Why?
A first drop before the fall?
But things may be evolving, especially with the approach of the Paris Motor Show (October 15-20, 2024), which aims to draw attention and ride the wave of increased visibility that will accompany this event. Thus, the BYD Seal sedan sees its price reduced to 42,990 euros until October 31, 2024. However, it appears that this promotion does not apply to the restyled version presented in China this summer. Moreover, this price drop of 4,000 euros is a nice gesture, but how can they compete against Tesla, which on Tuesday, October 8, 2024, just lowered the price of its Model 3 Propulsion to 39,990 euros and introduced a Model 3 Long Range Propulsion priced at 44,990 euros for a range of 702 km (compared to 570 km for the Seal).
In terms of visibility, user reliability feedback, on-the-road charging capacity with its Superchargers, network, and performance, the BYD Seal does not yet have the means to make its voice heard against Tesla. However, the mechanism for price reduction seems to have been initiated in the minds of the brand’s Chinese leaders. Are we at the beginning of a significant price revision to finally penetrate the European market? Everything suggests so.
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