After waiting for 3 months, This Chinese car manufacturer has reduced the price by 175% as soon as I received the car

On July 29, Fang Cheng Bao, the off-road vehicle brand of BYD, caused a stir in the Chinese car market by reducing the price of the Bao 5 (Leopard 5) model by up to 50,000 Chinese yuan (176 million VND), bringing the new price to 239,800 - 302,800 Chinese yuan (approximately 845 million to 1.1 billion VND).

Previously, the starting price of the car was 289,800 Chinese yuan. Therefore, the price reduction was 17.5%.

The Bao 5 model is known for its fuel efficiency (Image: BYD).

Launched in November last year, the Leopard 5 model has faced tough competition with the Tank off-road vehicle from Great Wall (GWM) dominating the market.

The aggressive price reduction, expansion of dealer network, and the decision to recruit external dealers for the first time in 5 years demonstrate Fang Cheng Bao's determination to compete fiercely in the off-road vehicle market.

However, not everyone appreciated Fang Cheng Bao's price reduction for the Bao 5 model.

Some customers who had already purchased the car were very unhappy; some even protested in front of the dealerships. Some banners stated that they had to wait 3 months to receive the car, while Fang Cheng Bao reduced the price by 50,000 Chinese yuan in just one day; they would have preferred to buy a Tank instead.

Customers who waited a long time to receive the car only to see a deep price cut shortly after were furious and protested at the company's dealership (Image: CarNewsChina).

Banner with the text: "Fang Cheng Bao, 50,000 yuan price cut in one day, would rather buy a Tank" (Image: CarNewsChina).

Some experts believe that with only this price reduction, the Bao 5 model may still struggle to increase sales in the competitive off-road vehicle market.

Meanwhile, the new energy vehicle segment in China is heating up. The recently launched Deepal G318 model has a starting price of 175,900 Chinese yuan (620 million VND). The vehicle uses two electric motors to form a 4WD system, with a rear axle differential lock. Higher versions are priced from 229,900 Chinese yuan (810 million VND), equipped with air suspension and CDC shock absorbers, features typically found in models priced above 260,000 Chinese yuan (916 million VND).

The price reduction by Fang Cheng Bao is aimed at competing with the Tank series from Great Wall, especially the popular Tank 300 model. While sales of other brands are declining, the Tank series continues to maintain stable sales, with many loyal customers.

Compared to the Tank series, the Bao 5 model has lower fuel consumption and can run on 92 octane gasoline, making it more cost-effective for users. Many believe that the lack of popularity of this model is due to its high price.

In the remaining months of 2024, consumers will benefit from the competition between Fang Cheng Bao and Tank, with more promotions and choices in the market for new energy off-road vehicles.