BYD cuts EV prices (again) with new 0% interest offer and daily payments for less than $5

After sales fell for a fifth straight month in January, BYD launched a New Year promotion offering 0% interest for 3 years and daily payments starting at less than $5.

BYD slashes EV prices in China again

Although BYD overtook Tesla as the world’s leading EV maker in 2025, sales in China have slowed in recent months.

BYD sold 296,446 new energy vehicles (NEVs) globally last month, 30% fewer than in January 2025, marking its fifth consecutive month with lower NEV (EV and PHEV) sales.

Outside China, BYD continues to expand at an impressive rate, but it’s facing a wave of low-cost competitors and an intensifying price war in its home market.

After cutting prices again last year by up to 34% on 22 of its vehicles, BYD triggered a new round of “price war panic.” The China Automobile Manufacturers Association warned (via Bloomberg) last June that automakers’ recent price cuts were “triggering a new round of price war panic,” but didn’t single out BYD.

Despite the warning, BYD is slashing prices again through an exclusive New Year offer. Zhang Zhou, head of sales at BYD’s Ocean Sales Division, announced the new promotion on February 25.

The discounts are available across some of BYD’s most popular vehicles (EVs and PHEVs), including the Seagull, Dolphin, and Sealion 05 EV.

The promotion offers 0% interest for three years or a 7-year “ultra-low” interest rate. According to Zhou, daily payments start as low as 29 yuan ($4.20) with a $0 down payment. That’s still only about 812 yuan ($118) a month.

BYD follows Tesla, which launched a 7-year low-interest plan last month, reducing monthly payments to 1,918 yuan ($279).

Since Tesla introduced its 7-year ultra-low interest offer for the Model 3 and Model Y last month, over 10 automakers have followed suit, including BYD, Xiaomi, Geely, Li Auto, XPeng, and NIO. BYD’s offer runs from February 25 until March 31, 2026.