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BYD has cut the price of its cheapest electric car after a sales decline of 70 per cent over the past six months.
The price of the 2024 BYD Dolphin electric car has been reduced by $2000 to help reverse a sales decline since its launch nearly 12 months ago.
Once Australia’s cheapest new electric car, the Dolphin has been given a price cut by BYD amid growing competition at the more affordable end of the electric-car market.
The entry-level Dolphin Dynamic, which has a 340km claimed driving range, is now priced from $36,890 plus on-road costs, while the Premium – offering a rated 427km – is now $42,890 plus on-roads, both down $2000.
It has not reclaimed its former title of the cheapest new electric car, which remains the GWM Ora – priced from $35,990 drive-away.
MORE: Which is the best electric vehicle under $50,000? BYD Dolphin v GWM Ora v MG 4 comparison
The latest pricing change has come as a surprise to industry experts, as BYD executives have previously ruled out cutting prices in response to rivals such as Tesla and MG – and becoming engaged in a ‘price war’.
However, sales of the Dolphin have fallen since its launch late last year, and BYD’s smallest car has not recorded a month-on-month increase in deliveries so far in 2024.
After 589 deliveries were reported in November 2023 – as vehicles were handed over to the initial wave of pre-order customers – sales dropped to 256 in January 2024, followed by 219 in February, 213 in March, 181 in April and 175 in May.
MORE: Electric-car price war – BYD Dolphin is Australia’s new cheapest EV (published June 2023)
It is despite sales of all types of electric vehicles growing by 4 per cent over the same period – and sitting 27 per cent higher over the first five months of 2024 than the same period in 2023.
Last month, the BYD Dolphin outsold the GWM Ora (116 deliveries) – but was comfortably beaten by the similarly-sized MG 4 (565 sales).
In fact, nearly as many MG 4s have been sold in the last two months (1041), as BYD Dolphins since the start of this year.
The price cut for the BYD Dolphin coincides with the launch of an updated BYD Atto 3 electric SUV, which has had its price reduced by $3562 – despite gaining a larger touchscreen, higher-quality Continental tyres, and other new features.
The post 2024 BYD Dolphin price cut amid sales slide appeared first on Drive.
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