# BYD Co. raised discounts to a record 10% in March as China’s EV price war deepens.

*business · news · 2026-04-24 · CNBC TV18*

## Key points

- BYD raised average discounts on its vehicles to a record 10% in March 2024.
- BYD's net debt-to-equity ratio has climbed to 25% after being negative for four years.
- BYD recently reported its first annual profit decline since the pandemic began.
- China's car factories are running at about 50% capacity, with significant overproduction.
- China's EV exports more than doubled to a record high in March, prompting tariff increases abroad.

**Companies:** BYD Co., Geely Automobile Holdings Ltd., Xiaomi Corp.
**Countries:** China, Brazil, United Kingdom, Australia, Canada

[Read the full story on CNBC TV18](https://www.cnbctv18.com/auto/chinas-byd-cuts-prices-by-10-as-electric-car-price-war-expands-overseas-ws-l-19892537.htm)

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