BEIJING (Reuters) -Chinese electric vehicle giant BYD is offering 10,000 yuan ($1,403.80) discounts on some variants of its second-generation Qin Plus sedans until the end of the year, the company said in a social media post on Thursday.
Qin Plus is among BYD’s best-selling models. The new time-limited discounts come after similar discounts announced earlier in September for new versions of BYD’s Tang DM-i, Seal 07 DM-i and Qin L EV and a sweeping round of price cuts in May.
The carmaker’s business hit a speed bump over recent months, with sales in its home market down for the fourth straight month in August.
Chinese authorities have been cracking down on excessive competition in key sectors including the auto industry, calling for an end to price wars that have bruised automakers, suppliers and dealers.
($1 = 7.1235 Chinese yuan renminbi)
(Reporting by Yukun Zhang, Qiaoyi Li and Ryan WooEditing by David Goodman and Nick Zieminski)
