Morgan Stanley: BYD retail prices slip 0.3% in April as facelift gains offset by declines

Investing.com -- Chinese electric vehicle makers showed mixed pricing trends in April, with retail prices ranging from slight declines to significant increases across major manufacturers, according to Morgan Stanley.

BYD saw retail prices edge down 0.3% month-over-month in April. Price improvements for the Seal 06 and Sea Lion 05 following their facelifts were offset by declines in other models. The bank expects upcoming facelifts and new model launches, including the Great Tang, to support blended pricing.

Li Auto maintained flat pricing month-over-month. Retail discounts for the L6, L7, and L8 models narrowed by 3,000 yuan, while discounts for the i-series stayed below 5%. L9 pricing held steady ahead of the L9 Livis launch this week.

XPeng recorded a 0.6% month-over-month price increase. The MONA M03's retail price rose by 6,500 yuan following its facelift, while other models remained unchanged. Additional price increases will likely depend on the GX launch, according to the bank.

NIO posted the strongest gain with a 4% month-over-month increase, driven largely by the 5566 facelifts, which lifted prices for each model by around 10%.

Geely Galaxy saw retail prices climb 7% month-over-month following 2026 facelifts of the A7, M9, and Starshine 8, with each model's retail price rising more than 10%.

Morgan Stanley noted that retail prices improved after March declines, supported by several facelifts, and expects model launches in coming months to support further pricing gains.

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