On November 23, BYD officially announced that the prices of a number of its models will see an increase, with the increase ranging from 2,000 yuan to 6,000 yuan.
The specific models involved in this price increase were not officially announced, but it can be confirmed that the Dynasty Network, Ocean Network and the relevant models of the Tenshi brand are in the price increase list.
There are two main reasons for this price increase, one is that the new energy vehicle purchase subsidy policy will be terminated on December 31, 2022, after which the licensed vehicles will no longer be subsidized by the state, of which the subsidy amount for plug-in hybrid models is 4,800 yuan / unit, the subsidy amount for pure electric models is 12,600 yuan / unit.
Secondly, since the second half of the year, the price of the main raw materials for the battery has risen sharply, which ultimately led to this price increase. But the official also stressed that January 1, 2023 before paying a deposit to sign the customer is not affected by this price increase, so this price increase should be officially implemented from January 1, 2023.
From what I know, the average spot price of battery-grade lithium carbonate reached 590,000 yuan / ton on November 22, the price rose nearly five times in nearly a year's time, which indeed caused a relatively large adjustment in the cost of car companies.
In addition, with the new energy model subsidy policy ends at the end of this year, there should be more new energy car car official announcement of price increases, BYD is just the first, and will not be the only one.
Of course, in which there is no lack of exceptions, such as Tesla for the domestic Model 3 and Model Y price cut, the lowest drop of 14,000 yuan, the highest drop reached 37,000 yuan, can be described as a "clear stream". Some analysts believe that Tesla's move is related to the reduction in orders, trying to stimulate sales through price cuts.
At present, BYD's new energy vehicle sales have been steadily ranked first in the domestic market, and for many months sales exceeded 200,000 yuan mark, perhaps this is also the reason why BYD dares to raise prices.
