Recent price reductions announced by Chinese electric vehicle (EV) giant BYD have sparked speculation over whether these discounts would extend to international markets, including Sri Lanka.

However, the company has confirmed that the offers apply exclusively to the Chinese domestic market.

Speaking at an event last evening, BYD Asia-Pacific Auto Sales Division General Manager Liu Xueliang clarified that the discounts were introduced to stimulate consumer spending during China’s shopping season, a period when promotions are common across a range of products.

“These discounts are intended to encourage Chinese consumers during a season when people typically go on a shopping spree,” Xueliang stated.

BYD has slashed prices on 22 of its electric and plug-in hybrid models sold in China, with offers running until the end of June. The move has intensified a growing price war among automakers in the world’s largest EV market.

To counter weak consumer demand, exacerbated by broader economic headwinds in China, several automakers have reduced their retail prices. Despite these measures, vehicle stock at dealerships rose to 3.5 million units last month, equivalent to 57 days of inventory, the highest level since December 2023, according to the China Passenger Car Association.

Among the most notable price revisions, BYD reduced the cost of its Seagull hatchback to 55,800 yuan ($ 7,780), marking a 20% drop.

The Seagull, already the company’s most affordable model, has attracted global attention for its sub-$ 10,000 price tag. The largest reduction was applied to the Seal dual-motor hybrid sedan, which saw its price cut by 34%, a reduction of 53,000 yuan, bringing the new price to 102,800 yuan.