China BYD to raise car prices after subsidy reduces

China’s automotive manufacturer, BYD, announced on its official Weibo that the products’ prices will be raised between 2,000 yuan ($290) and 6,000 yuan, starting from 1 January 2023.

The company’s decision has been influenced by the reduction of subsidies for new energy vehicles since November last year, reported Reuters.

In addition, according to Investor’s Business Daily, BYD will likely report its December 2022 sales on Tuesday, 3 January 2022, before the U.S. market opens.

The year of 2022 could mark an effective expansion of the company as it made wider sales in several countries including Norway, New Zealand, Singapore, Brazil, Costa Rica, and Colombia.

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About Kanlayakorn Pengrattana

Kanlayakorn 'Princess' Pengrattana is a freelance writer at ScandAsia.

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