Photo/Zhang Jian (NBD)

BYD on Monday launched two new models, the Qin PLUS DM-i Glory Edition and the Destroyer 05 Glory Edition, at prices that are lower than similar fuel cars. Both models start at 79,800 yuan (US$11,100), which will have big impact on A-class sedan market.

"In 2024, BYD will no longer 'show mercy' to fuel cars joint venture," BYD said in a statement.

The move has been met with mixed reactions from netizens. Some say that the price is too high, while others believe that it is a good deal.

"I wouldn't buy it for 99,800 yuan, or even 89,800 yuan. But for 79,800 yuan, I'm really, really tempted to buy it," one netizen commented on Weibo.

Another netizen said, "Is 79,800 yuan really profitable? If it's just to 'burn out' the competitor, then there's no need for that."

Cui Dongshu, Secretary General of the China Passenger Car Association, told NBD that BYD's price cut will further squeeze the living space of fuel car joint ventures.

"BYD's move is more to maximize sales and achieve its higher sales target for 2024," Cui emphasized.

BYD has not yet officially announced its sales target for 2024, but there are market rumors that it may set the annual sales target at 4.5 million units. So far, BYD has not responded to this. 

In February last year, BYD launched the Qin PLUS DM-i 2023 Champion Edition with a starting price of 99,800 yuan, bringing the price of DM-i models below 100,000 yuan for the first time.