Latest news with #DeepalS07
Business Times
26-05-2025
- Automotive
- Business Times
Chinese EV stocks tumble after BYD slashes prices as much as 34%
[HONG KONG] BYD led Chinese electric vehicle stocks lower in Hong Kong on Monday (May 26), as investors digested the auto giant's sweeping price cuts of as much as 34 per cent late last week. Shares of China's No 1 selling car brand tumbled as much as 8.3 per cent, while peers Li Auto, Great Wall Motor and Geely Automobile Holdings dropped more than 5 per cent amid investor concern about intensifying competition in the sector. BYD offered discounts on 22 of its electric and plug-in hybrid models that it sells in China until the end of June, fanning the flames of a renewed sector-wide price war. While EV sales have overall reached new annual highs, growth has been decelerating. To kickstart sluggish consumer demand – made worse by China's broader economic malaise – automakers in the world's biggest car market have slashed sticker prices. Even so, stock levels at dealerships last month reached 3.5 million cars, or 57 inventory days, the highest since December 2023, according to data shared last week by the China Passenger Car Association. Revisions by BYD include paring the price of its Seagull hatchback to 55,800 yuan (S$9,971), a 20 per cent reduction to a model that was already the carmaker's cheapest and one that had garnered global attention for its sub-US$10,000 price tag. The Seal dual-motor hybrid sedan saw the biggest price cut at 34 per cent, or by 53,000 yuan to 102,800 yuan. In recent months, BYD has attempted to clear inventory of older models, including ones without the new driver assist features – which the automaker announced in February would be added to its models for free. The pivot hasn't been without problems, further hurting the struggling dealerships it does business with. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'While some of these discounts have been in place since April, the official announcement sends a strong signal of how tough the end market is,' Morgan Stanley analysts including Tim Hsiao wrote in a note. BYD's latest cuts are expected to have a knock-on effect, as rival automakers further trim their prices, slicing deeper into already thin margins. The intense pricing pressure is straining many carmakers' bottom lines, leading to mounting financial losses and industry consolidation. 'We anticipate peers to follow BYD's price cut,' analysts at Citi Research wrote, noting that Chongqing Changan Automobile announced a cash discount of 25,000 yuan for its Deepal S07 model over the weekend while Zhejiang Leapmotor Technologies adjusted prices for its C16 full-size crossover sport utility vehicle and mid-sized SUV C11. Citi estimated that after the weekend's discounts, BYD dealership traffic may have surged between 30 to 40 per cent week-on-week. Should that foot traffic translate into sales, BYD's May volumes could keep their upward trajectory. The Shenzhen-based group posted its best month of sales yet for 2025 in April, a further sign that despite the broader industry pain, it's on track to hit its full-year target of 5.5 million deliveries. BYD is also gaining ground overseas. It sold more EVs in Europe than Tesla for the first time last month, overtaking the American brand that long led the continent's EV segment. Thanks to BYD's vertically integrated supply chain – it makes its own batteries and many of its own semiconductors – and domestic scale, which helps reduce production costs, the impact of China's car price wars on its balance sheet is more muted than for some other automakers. Its gross margin for the quarter ended Mar 31 was around 20 per cent versus about 16 per cent for Tesla, for example. And BYD's net income in the first quarter jumped to 9.15 billion yuan, overtaking Tesla on another key metric. BLOOMBERG
Yahoo
26-05-2025
- Automotive
- Yahoo
Chinese EV Stocks Tumble After BYD Slashes Prices Up to 35%
(Bloomberg) -- BYD Co. led Chinese electric vehicle stocks lower in Hong Kong on Monday, as investors digested the auto giant's sweeping price cuts of as much as 35% late last week. NY Private School Pleads for Donors to Stay Open After Declaring Bankruptcy UAE's AI University Aims to Become Stanford of the Gulf NYC's War on Trash Gets a Glam Squad Pacific Coast Highway to Reopen Near Malibu After January Fires Shares of China's No. 1 selling car brand tumbled as much as 8.3%, while peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. dropped more than 5% amid investor concern about intensifying competition in the sector. BYD offered discounts on 22 of its electric and plug-in hybrid models until the end of June, fanning the flames of a renewed sector-wide price war. While EV sales have overall reached new annual highs, growth has been decelerating. To kickstart sluggish consumer demand — made worse by China's broader economic malaise — automakers in the world's biggest car market have slashed sticker prices. Even so, stock levels at dealerships last month reached 3.5 million cars, or 57 inventory days, the highest since December 2023, according to data shared last week by the China Passenger Car Association. Revisions by BYD include paring the price of its Seagull hatchback to 55,800 yuan ($7,780), a 20% reduction to a model that was already the carmaker's cheapest and one that had garnered global attention for its sub-$10,000 price tag. The Seal dual-motor hybrid sedan saw the biggest price cut at 34%, or by 53,000 yuan to 102,800 yuan. In recent months, BYD has attempted to clear inventory of older models, including ones without the new driver assist features — which the automaker announced in February would be added to its models for free. The pivot hasn't been without problems, further hurting the struggling dealerships it does business with. 'While some of these discounts have been in place since April, the official announcement sends a strong signal of how tough the end market is,' Morgan Stanley analysts including Tim Hsiao wrote in a note. BYD's latest cuts are expected to have a knock-on effect, as rival automakers further trim their prices, slicing deeper into already thin margins. The intense pricing pressure is straining many carmakers' bottom lines, leading to mounting financial losses and industry consolidation. 'We anticipate peers to follow BYD's price cut,' analysts at Citi Research wrote, noting that Chongqing Changan Automobile Co. announced a cash discount of 25,000 yuan for its Deepal S07 model over the weekend while Zhejiang Leapmotor Technologies Ltd. adjusted prices for its C16 full-size crossover sport utility vehicle and mid-sized SUV C11. Citi estimated that after the weekend's discounts, BYD dealership traffic may have surged between 30% to 40% week-on-week. Should that foot traffic translate into sales, BYD's May volumes could keep their upward trajectory. The Shenzhen-based group posted its best month of sales yet for 2025 in April, a further sign that despite the broader industry pain, it's on track to hit its full-year target of 5.5 million deliveries. BYD is also gaining ground overseas. It sold more EVs in Europe than Tesla Inc. for the first time last month, overtaking the American brand that long led the continent's EV segment. --With assistance from Charlotte Yang. Why Apple Still Hasn't Cracked AI How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Automotive
- Yahoo
Chinese EV Stocks Tumble After BYD Slashes Prices Up to 35%
(Bloomberg) -- BYD Co. led Chinese electric vehicle stocks lower in Hong Kong on Monday, as investors digested the auto giant's sweeping price cuts of as much as 35% late last week. NY Private School Pleads for Donors to Stay Open After Declaring Bankruptcy UAE's AI University Aims to Become Stanford of the Gulf NYC's War on Trash Gets a Glam Squad Pacific Coast Highway to Reopen Near Malibu After January Fires Shares of China's No. 1 selling car brand tumbled as much as 8.3%, while peers Li Auto Inc., Great Wall Motor Co. and Geely Automobile Holdings Ltd. dropped more than 5% amid investor concern about intensifying competition in the sector. BYD offered discounts on 22 of its electric and plug-in hybrid models until the end of June, fanning the flames of a renewed sector-wide price war. While EV sales have overall reached new annual highs, growth has been decelerating. To kickstart sluggish consumer demand — made worse by China's broader economic malaise — automakers in the world's biggest car market have slashed sticker prices. Even so, stock levels at dealerships last month reached 3.5 million cars, or 57 inventory days, the highest since December 2023, according to data shared last week by the China Passenger Car Association. Revisions by BYD include paring the price of its Seagull hatchback to 55,800 yuan ($7,780), a 20% reduction to a model that was already the carmaker's cheapest and one that had garnered global attention for its sub-$10,000 price tag. The Seal dual-motor hybrid sedan saw the biggest price cut at 34%, or by 53,000 yuan to 102,800 yuan. In recent months, BYD has attempted to clear inventory of older models, including ones without the new driver assist features — which the automaker announced in February would be added to its models for free. The pivot hasn't been without problems, further hurting the struggling dealerships it does business with. 'While some of these discounts have been in place since April, the official announcement sends a strong signal of how tough the end market is,' Morgan Stanley analysts including Tim Hsiao wrote in a note. BYD's latest cuts are expected to have a knock-on effect, as rival automakers further trim their prices, slicing deeper into already thin margins. The intense pricing pressure is straining many carmakers' bottom lines, leading to mounting financial losses and industry consolidation. 'We anticipate peers to follow BYD's price cut,' analysts at Citi Research wrote, noting that Chongqing Changan Automobile Co. announced a cash discount of 25,000 yuan for its Deepal S07 model over the weekend while Zhejiang Leapmotor Technologies Ltd. adjusted prices for its C16 full-size crossover sport utility vehicle and mid-sized SUV C11. Citi estimated that after the weekend's discounts, BYD dealership traffic may have surged between 30% to 40% week-on-week. Should that foot traffic translate into sales, BYD's May volumes could keep their upward trajectory. The Shenzhen-based group posted its best month of sales yet for 2025 in April, a further sign that despite the broader industry pain, it's on track to hit its full-year target of 5.5 million deliveries. BYD is also gaining ground overseas. It sold more EVs in Europe than Tesla Inc. for the first time last month, overtaking the American brand that long led the continent's EV segment. --With assistance from Charlotte Yang. Why Apple Still Hasn't Cracked AI How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul ©2025 Bloomberg L.P.
Scottish Sun
08-05-2025
- Automotive
- Scottish Sun
New EV from China that's ‘over £5,000 cheaper than Tesla' coming to the UK in weeks
Italian-designed electric SUV promises big savings — but can it overcome its range and charging drawbacks? ROLL OUT New EV from China that's 'over £5,000 cheaper than Tesla' coming to the UK in weeks A NEW electric vehicle from China is set to shake up the UK market — and it's over £5,000 cheaper than the Tesla Model Y. The electric SUV, the Changan Deepal S07, promises style, technology, and value — and it's set to arrive on British roads in just a few months. 4 The first customer deliveries are planned for September Credit: Getty 4 Inside, the car offers heated and ventilated front seats, creating a luxury feel that's often missing from similarly priced models Credit: Getty The Italian-designed Deepal S07 starts from £39,950, putting it in direct competition with the Skoda Enyaq and Hyundai Ioniq 5, and narrowly undercutting fellow Chinese challenger XPeng G6. Only the Renault Scenic beats it on price, starting at just under £37,000. While the Deepal S07 grabs attention on price, its 295-mile claimed range falls short compared to rivals. Tesla's Model Y leads the pack with up to 387 miles, and even the base version offers 311 miles. This makes the S07 less appealing to drivers worried about long trips between charges. Charging is another area where the S07 struggles to keep up. With a maximum charge speed of 92kW, it takes 48 minutes to go from 10 per cent to 80 per cent battery. Many rivals, like the Hyundai Ioniq 5, can manage that in under 20 minutes, meaning less time spent waiting around at public chargers. Where the Deepal S07 does shine is in its impressive list of standard equipment. Buyers get a panoramic glass roof, powered tailgate, a huge 15.6-inch touchscreen, wireless Apple CarPlay and Android Auto, a head-up display with augmented reality navigation, and a premium 14-speaker sound system with speakers built into the headrests. New EV from China that's 'over £5,000 cheaper than Tesla' coming to the UK in weeks Inside, the car offers heated and ventilated front seats, creating a luxury feel that's often missing from similarly priced models. The interior design is minimalist but modern, dominated by the large central touchscreen and clean, flowing lines. On the outside, the Deepal S07 was styled in Italy to create a sleek, dynamic look. The S07 has also achieved a maximum five-star Euro NCAP safety rating. It comes packed with advanced driver assistance systems as standard, including adaptive cruise control, driver fatigue monitoring, and a 360-degree surround-view camera. Changan may not be a household name in the UK, but it's one of China's largest car manufacturers, with a history going back over 40 years. The company has joint ventures with major brands like Ford and Mazda in China and even runs a UK research centre in Birmingham. Looking ahead, Changan has ambitious plans for the UK market. Alongside the S07, it will also bring in the smaller Deepal S05 SUV, which will be offered in both electric and hybrid versions. An electric pick-up truck, the E07, is also on the cards, though details are still under wraps. For now, the focus is on the S07, which is expected to go on sale this summer. The first customer deliveries are planned for September. Changan plans to work with traditional UK dealerships and has set up a European parts hub in the Netherlands to make sure customers get proper support and aftercare. 4 The interior design is minimalist but modern, dominated by the large central touchscreen and clean, flowing lines Credit: Getty
The Irish Sun
08-05-2025
- Automotive
- The Irish Sun
New EV from China that's ‘over £5,000 cheaper than Tesla' coming to the UK in weeks
A NEW electric vehicle from China is set to shake up the UK market — and it's over £5,000 cheaper than the Tesla Model Y. The electric SUV, the Changan Deepal S07, promises style, technology, and value — and it's set to arrive on British roads in just a few months. Advertisement 4 The first customer deliveries are planned for September Credit: Getty 4 Inside, the car offers heated and ventilated front seats, creating a luxury feel that's often missing from similarly priced models Credit: Getty The Italian-designed Deepal S07 starts from £39,950, putting it in direct competition with the Skoda Enyaq and Hyundai Ioniq 5, and narrowly undercutting fellow Chinese challenger XPeng G6. Only the Renault Scenic beats it on price, starting at just under £37,000. While the Deepal S07 grabs attention on price, its 295-mile claimed range falls short compared to rivals. Tesla's Model Y leads the pack with up to 387 miles, and even the base version offers 311 miles. Advertisement Read more on Motors This makes the S07 less appealing to drivers worried about long trips between charges. Charging is another area where the S07 struggles to keep up. With a maximum charge speed of 92kW, it takes 48 minutes to go from 10 per cent to 80 per cent battery. Many rivals, like the Hyundai Ioniq 5, can manage that in under 20 minutes, meaning less time spent waiting around at public chargers. Advertisement Most read in Motors Latest Latest Where the Deepal S07 does shine is in its impressive list of standard equipment. Buyers get a panoramic glass roof, powered tailgate, a huge 15.6-inch touchscreen, wireless Apple CarPlay and Android Auto, a head-up display with augmented reality navigation, and a premium 14-speaker sound system with speakers built into the headrests. New EV from China that's 'over £5,000 cheaper than Tesla' coming to the UK in weeks Inside, the car offers heated and ventilated front seats, creating a luxury feel that's often missing from similarly priced models. The interior design is minimalist but modern, dominated by the large central touchscreen and clean, flowing lines. Advertisement On the outside, the Deepal S07 was styled in Italy to create a sleek, dynamic look. The S07 has also achieved a maximum five-star Euro NCAP safety rating. It comes packed with advanced driver assistance systems as standard, including adaptive cruise control, driver fatigue monitoring, and a 360-degree surround-view camera. Changan may not be a household name in the UK, but it's one of China's largest car manufacturers, with a history going back over 40 years. Advertisement The company has joint ventures with major brands like Ford and Mazda in China and even runs a UK research centre in Birmingham. Looking ahead, Changan has ambitious plans for the UK market. Alongside the S07, it will also bring in the smaller Deepal S05 SUV, which will be offered in both electric and hybrid versions. An electric pick-up truck, the E07, is also on the cards, though details are still under wraps. Advertisement For now, the focus is on the S07, which is expected to go on sale this summer. The first customer deliveries are planned for September. Changan plans to work with traditional UK dealerships and has set up a European parts hub in the Netherlands to make sure customers get proper support and aftercare. 4 The interior design is minimalist but modern, dominated by the large central touchscreen and clean, flowing lines Credit: Getty Advertisement 4 The company has joint ventures with major brands like Ford and Mazda in China and even runs a UK research centre in Birmingham Credit: Getty
