BYD introduced on Wednesday a new round of incentives for the models of its Ocean series in its domestic market.
Zhang Zhuo, who heads the Ocean series’ sales division, said on Weibo that the offers include three years of zero interest and seven years of low interest, with zero down payment and “daily payments as low as 29 yuan” — equivalent to $4.21.
The automaker is the latest Chinese brand to match or adopt a similar pricing strategy first introduced by Tesla in the country on January 6.
Additionally, the brand also announced a trade-in subsidy of up to 21,000 yuan ($3,050).
Ocean Series
“Ocean Auto’s full lineup kicks off the year with exclusive perks,” the executive wrote on the Chinese social media platform.
The series includes several battery electric (BEV) and plug-in hybrid (PHEV) models, such as the Seal 5, 6, and 7, the Sealion 5 and 6, Dolphin Smart Drive Edition, and Seagull Smart Drive Edition — named Dolphin Surf in Europe.
The campaign will run until the last day of March as BYD seeks to boost first quarter sales.
Additionally, BYD Co.‘s luxury sub-brand Fang Cheng Bao also announced a seven-year financing offer on Tuesday, ending on March 31 as well.
The incentive is available for the Leopard 5 Long Range Edition and full Titanium 7 range, offering down payments from 32,000 yuan ($4,600) and rates as low as 1.5%.
January Sales in China
The latest promotions come nearly a month after BYD shared January’s slumping sales in China.
The company sold 210,051 new energy vehicles (NEV) in China — a 30.1% year over year decline, according to the Chinese giant.
The figures plunged even deeper compared to last December: 50.0%.
Passenger vehicles accounted for 205,518 units, falling by 30.7% from January 2025 and by 50.5% month-on-month.
According to the latest data from the China Passenger Car Association (CPCA), the Shenzhen-based automaker achieved a wholesale total of 205,518 NEVs, including domestic sales and exports.
Although BYD remained in the top position with a 15.8% market share, the brand saw its NEV retail sales fall 53.0% to 94,176 units.
The Chinese giant, which surpassed Tesla as the largest EV maker in the world last year, registered 83,249 BEV passenger cars in January in China.
The result marked the lowest monthly one for the firm since February 2024.
The company’s shares also dropped over 4.2% on February 2 to a new 16-month low in reaction to the weaker than expected demand.
Other Offers
On January 6, Tesla implemented a seven-year low-interest financing incentive in China for the Model 3, Model Y, and the exclusive Model Y L.
A week later, the offer was matched by the Chinese tech giant Xiaomi. Other domestic brands, such as Li Auto, Dongfeng‘s sub-brand Yipai, Geely‘s Galaxy brand, and Xiaomi, quickly joined the trend.
In Germany, BYD introduced last week aggressive discounts, combined with government incentives, of up to €16,000 — equivalent to $18,900.
