Used electric vehicles are suddenly one of the hottest segments in the car market, even as sales of new EVs struggle to gain traction.
Used electric vehicle sales are surging, with almost 40 percent of recent used EV transactions priced below 25,000 dollars, making them much more affordable than new models.

Tax Credits Helped Boost Second-hand EV Interest

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market. 
 
The company has introduced the latest version at a price even lower than its discontinued predecessor, reflecting the intensifying battle for market share. 
 
The new Yuan Plus crossover, known as the Atto 3 in international markets, is offered with a starting price of $16,644, marking an 11.8 per cent decrease compared to the final sales price of its predecessor. 
 
This cost-effective strategy shows BYD's commitment to keeping a competitive advantage in the quickly changing EV market. 
 
The company's commitment to affordability aligns with the broader trend observed in the Chinese EV market, where manufacturers are striving to offer compelling value propositions to consumers. 
 
In 2023, BYD witnessed success with its Yuan Plus EV, recording sales figures of 412,202 units, a substantial portion of which were exported. 
 
According to data from the China Association of Automobile Manufacturers, approximately 42 per cent of BYD's total car exports for the year comprised the Yuan Plus model. 
BYD's international pricing strategy further accentuates its emphasis on maximising profit margins in foreign markets. 
 
For instance, the Atto 3 commands a starting price of $31,336 in Australia, representing an 85 per cent premium over its price in China. 
 
(With inputs from Reuters)

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market.

China's leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world's largest automobile market. The company has introduced the latest version at a price even lower than its discontinued predecessor, reflecting the intensifying battle for market share. The new Yuan Plus crossover, known as the Atto 3 in international markets, is offered with a starting price of $16,644, marking an 11.8 per cent decrease compared to the final sales price of its predecessor. This cost-effective strategy shows BYD's commitment to keeping a competitive advantage in the quickly changing EV market. The company's commitment to affordability aligns with the broader trend observed in the Chinese EV market, where manufacturers are striving to offer compelling value propositions to consumers. In 2023, BYD witnessed success with its Yuan Plus EV, recording sales figures of 412,202 units, a substantial portion of which were exported. According to data from the China Association of Automobile Manufacturers, approximately 42 per cent of BYD's total car exports for the year comprised the Yuan Plus model. BYD's international pricing strategy further accentuates its emphasis on maximising profit margins in foreign markets. For instance, the Atto 3 commands a starting price of $31,336 in Australia, representing an 85 per cent premium over its price in China. (With inputs from Reuters)

BYD launches new EV model with aggressive pricing amid market competition

Car markets in India have been taken over by mid-sized SUVs. Recently, automakers are going to bring Sedans back in the market that is a new thing to India, while Skoda is also trying to make a come back with the new Sedan Slavia. WION's Business Editor Sumit Chaturvedi speaks to Zak Hollis, Brand Director of Skoda Auto India for more insights.

Sedan market will be twice as big in a year: Zak Hollis

Ford to exit Russian passenger car market

car-market

Car Market, News on Car Market, stories on Car Market, articles on Car Market, Car Market stories at Wion, Car Market news, Car Market latest news