Price cuts for some BYD models

BYD Auto New Zealand has confirmed significant price cuts on two of its models, claiming reductions in battery costs are behind the move.

Though the pricing is only on existing stock on the ground, indicating clearing unsold vehicles in a quiet market could be a factor.

The new recommended retail price (RRP) for the Dolphin drops $3000 to $46,990 for the standard range model – matching the entry-level MG4 – and $52,990 for the extended range.

Atto 3 pricing has dropped to $52,990 for the standard range and $55,990 for the extended – a $4000 reduction from previous promotional pricing.

Seal pricing remains unchanged.

Customers also get 20,000km of Road User Charges and an EO Mini charger as part of the deal.

BYD’s pricing has been under pressure in recent months not just from a slow market but other brand’s entering the space with new models or lowered pricing. Tesla Model 3 pricing got within $3000 of the Atto, while Omoda’s E5 starts from $47,990.

BYD Auto NZ brand manager Warren Willmot says battery material pricing is behind part of the pricing change.

“We’re thrilled to be able to pass on a price reduction on both the Atto 3 and Dolphin to our New Zealand customers,” Willmot says.

“Global reduction in raw lithium pricing in recent months has had a trickle-down effect, alongside manufacturing overheads decreasing for these models.”