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BYD ups car discounts as China’s EV price war intensifies and used car values wobble
Economy
Published on 24 April 2026
Discounts are rising even after officials asked firms to pause
China’s EV and car market is stuck in a deeper price war, with BYD and rivals expanding discounts despite government calls to slow them. The fight is fueled by overcapacity: factories are producing far more vehicles than the domestic market can absorb. That squeeze is now spreading through the ecosystem, dragging down used car values and pushing automakers to chase growth abroad.
- BYD and competitors are increasing discounts amid fierce EV price battles
- Government calls to cool pricing are being ignored
- Overcapacity is driving the oversupply problem across auto plants
- Used car values are likely to take the hit as prices fall
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times