BYD’s cheapest electric car, the Seagull, was the top-selling car in China last month, with nearly 41,000 models sold. Starting at under $10,000, the BYD Seagull even has US automakers worried.
BYD’s Seagull was China’s top-selling vehicle in August
BYD has been on a roll, launching lower-priced, updated models of its best-selling models. In March, BYD launched the Seagull EV Honor Edition with a “shocking price” starting at just 69,800 yuan, or less than $10,000.
Just five months later, BYD launched the 2025 Seagull with the same starting price. The Seagull is already sitting atop the sales charts in China.
After a record-breaking August, BYD topped one million EV sales in 2024. The company sold a record over 373,000 new energy vehicles (including PHEVs) in August. Of them, 148,470 were all-electric.
BYD’s Seagull was the top-selling vehicle in China in August, with 40,949 models sold. The company said the Seagull is now China’s best-selling A00 class model and pure electric car for the sixth consecutive month.
BYD Seagull EV (Source: BYD)
The Seagull EV is available in three trims in China with two BYD Blade battery options (30.08 kWh or 38.88 kWh), providing up to 252 miles (405 km) CLTC range.
BYD Seagull Honor Edition trim
Starting Price
Range (CLTC)
Active
$9,700 (69,800 yuan)
190 mi (305 km)
Free
$10,500 (75,800 yuan)
190 mi (305 km)
Flying
$12,000 (85,800 yuan)
252 mi (405 km)
BYD Seagull Honor Edition prices and range
BYD’s low-cost EV has earned the nickname “mini Lamborghini” as former Lamborghini designer Wolfgang Egger led the Seagull’s design.
Inside, the Seagull is loaded with BYD’s latest tech and software, including a 10.1″ rotating infotainment with DiLink intelligent network connection.
BYD Seagull (Dolphin Mini) interior (Source: BYD)
BYD is selling the Seagull EV overseas as the Dolphin Mini. In Brazil, the Dolphin Mini (Seagull) starts at around $20,000 (99,800 BRL). It’s roughly the same in Mexico at 358,800 pesos, or around $19,000.
Electrek’s Take
BYD’s cheapest EV is worrying rivals in and outside of China. Even Ford’s CEO Jim Farley called the Seagull a “pretty damn good” car, warning rivals of BYD’s low-cost EV. In comparison, Ford only sold 8,944 EVs combined last month.
The Seagull is expected to launch as one of the most affordable EVs in Europe, starting at under 20,000 euros ($21,500).
Although several automakers have promised to launch lower-priced EVs, will they be able to keep up with BYD? And, more importantly, still earn a profit?
According to AutoForecast Solutions CEO Joe McCabe, BYD’s Seagull would still be the cheapest EV in the US at under $25,000, even with a 100% tariff.
North American CEO Stella Li has already said BYD has no plans to launch passenger EVs (they already sell electric buses) in the US. However, that won’t stop the Chinese auto giant from taking market share in other markets like Mexico, Southeast Asia, Europe, and possibly Canada.
BYD, which started as a battery maker, already has a significant advantage with an established supply chain. The company’s “liberation battle” against gas-powered vehicles appears to be working so far. BYD said its main goal is to take market share from ICE vehicles while promoting electric cars.
Source: BYD
FTC: We use income earning auto affiliate links.More.
Most Wall Street analysts covering Tesla’s stock (TSLA) badly misread the automaker’s delivery volumes this quarter. Some of them have started releasing notes to clients following Tesla’s production and delivery results.
Here’s what they have to say:
According to Tesla-compiled analyst consensus, the automaker was expected to report “377,592 deliveries” in the first quarter.
Truist Securities maintained its hold rating on Tesla’s stock, but it greatly lowered its price target from $373 to $280 a share. They insist that while their earnings expectations have crashed because they overestimated deliveries, investors should focus on Tesla’s self-driving effort, which they see as “much more important for the long-term value of the stock.”
Goldman Sachs lowered its price target from $320 to $275 a share. The firm expected 375,000 deliveries from Tesla in Q1 and therefore had to adjust its earnings expectations with almost 40,000 fewer deliveries.
Wedbush‘s Dan Ives, one of Tesla’s biggest cheerleaders, called the delivery results “disastrous”, but he reiterated his $550 price target on Tesla’s stock.
UBS has reiterated its $225 price target which it had lowered last month after adjusting its delivery expectations in Q1 to 367,000 – one of the more accurate predictions on Wall Street.
CFRA‘s analyst Garrett Nelson reduced his price target from $385 to $360 a share.
Electrek’s Take
I find it funny that most of them are maintaining or barely changing their expectations after they were so wrong about Tesla in Q1.
If you were so wrong in Q1, you should expect to be incorrect also for the rest of the year, and readjust accordingly.
But Cantor is invested in Tesla, and the firm is owned by Elon’s friend, who happens to now be the secretary of commerce. Truist still believes Elon’s self-driving lies, Goldman Sachs overestimated Tesla’s deliveries by the equivalent of $2 billion in revenues, and Dan Ives is Dan Ives.
Covering Tesla over the last 15 years has confirmed to me that most Wall Street analysts have no idea what they are doing – or at least not when it comes to companies like Tesla.
Do you know any who have been consistently good lately? I’d love suggestions in the comment section below.
FTC: We use income earning auto affiliate links.More.
The global market rout on Thursday, sparked by President Donald Trump’s announcement of widespread tariffs, had an outsized effect on fintech companies and credit card issuers that are closely tied to consumer spending and credit.
Affirm, which offers buy now, pay later purchasing options, plunged 19%, while stock trading app Robinhood slid 10% and payments company PayPal fell 8%. American Express and Capital One each tumbled 10%, and Discover was down more than 8%.
President Trump on Wednesday laid out the U.S. “reciprocal tariff” rates that more than 180 countries and territories, including European Union members, will face under his sweeping new trade policy. Trump said his plan will set a 10% baseline tariff across the board, but that number is much higher for some countries.
The announcement sent stocks reeling, wiping out nearly $2 trillion in value from the S&P 500, and pushing the tech-heavy Nasdaq down 6%, its worst day since the start of the Covid-19 pandemic in 2020.
The sell-off was especially notable for companies most exposed to consumer spending and global supply chains, including payment providers and lenders. Fintech companies that rely on transaction volume or installment-based lending could see both revenue and credit performance deteriorate.
“When you go down the spectrum, that’s when you have more cyclical risk, more exposure to tariffs,” said Sanjay Sakhrani, an analyst at Keefe, Bruyette & Woods, citing PayPal and Affirm as businesses at risk. He said bigger companies in the space “are more defensive” and better positioned.
Dan Dolev, an analyst at Mizuho, said bank processors such as Fiserv are less exposed to tariff volatility.
“It’s considered a safe haven,” he said.
Affirm executives have previously said rising prices might increase demand for their products. Chief Financial Officer Rob O’Hare said higher prices could push more consumers toward buy now, pay later services.
“If tariffs result in higher prices for consumers, we’re there to help,” O’Hare said at a Stocktwits fireside chat last month. Affirm CEO Max Levchin has offered similar comments.
However, James Friedman, an analyst at SIG, told CNBC that delinquencies become a concern. He compared Affirm to private-label store cards, and pointed to historical trends in credit performance during downturns, noting that “private label delinquency rates run roughly double” in a recession when compared to traditional credit cards.
“You have to look at who’s overexposed to discretionary,” he said.
Affirm did not provide a comment but pointed to recent remarks from its executives.
Wait, Mazda sells a real EV? It’s only in China for now, but that will change very soon. The first Mazda 6e built for overseas markets rolled off the assembly line Thursday. Mazda’s new EV will arrive in Europe, Southeast Asia, and other overseas markets later this year. This could be the start of something with a new SUV due out next.
Mazda’s new EV rolls off assembly for overseas markets
The Mazda EZ-6 has been on sale in China since October with prices starting as low as 139,800 yuan, or slightly under $20,000.
Earlier this year, Mazda introduced the 6e, the global version of its electric car sold in China. The stylish electric sedan is made by Changan Mazda, Mazda’s joint venture in China.
After the first Mazda 6e model rolled off the production line at the company’s Nanjing Plant, Mazda said it’s ready to “conquer the new era of electrification with China Smart Manufacturing.”
Advertisement – scroll for more content
The new global “6e” model will be built at Changan Mazda’s plant and exported to overseas markets including Europe, Thailand, and other parts of Southeast Asia.
Mazda calls it “both a Chinese car and a global car,” with Changan’s advanced EV tech and Mazda’s signature design.
Mazda 6e electric sedan during European debut (Source: Changan Mazda)
Built on Changan’s hybrid platform, the EZ-6 is offered in China with both electric (EV) and extended-range (EREV) powertrains. The EV version has a CLTC driving range of up to 600 km (372 miles) and can fast charge (30% to 80%) in about 15 minutes.
Mazda’s new EV will be available with two battery options in Europe: 68.8 kWh or 80 kWh. The larger (80 kWh) battery gets up to 552 km (343 miles) WLTP range, while the 68.8 kWh version is rated with up to 479 km (300 miles) range on the WLTP rating scale.
At 4,921 mm long, 1,890 mm wide, and 1,491 mm tall, the Mazda 6e is about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall).
Mazda said the successful rollout of the 6e kicks off “the official launch of Changan Mazda’s new energy vehicle export center” for global markets.
The company will launch a new SUV next year and plans to introduce a third and fourth new energy vehicle (NEV).
Although prices will be announced closer to launch, Mazda’s global EV will not arrive with the same $20,000 price tag in Europe as it will face tariffs as an export from China. Mazda is expected to launch the 6e later this year in Europe and Southeast Asia. Check back soon for more info.
FTC: We use income earning auto affiliate links.More.