On July 29, Fang Cheng Bao, BYDโs off-road vehicle brand, stirred up the market with a dramatic 50,000 yuan price cut on its Bao 5 (Leopard 5), slashing the price to 239,800 to 302,800 yuan (33,000 to 41,700 USD). Launched last November, the Leopard 5 has been struggling to make a dent against Great Wallโs dominant Tank series. This bold price reduction, combined with a significant dealer network overhaul and the brandโs first external dealer recruitment in five years, marks a game-changing move for Fang Cheng Bao in the fiercely competitive off-road market.
Fang Cheng Baoโs price reduction has not been universally welcomed. Existing customers, some of whom have lodged complaints or protested at dealerships, are dissatisfied with the move. Many protested with banners, โWaited 3 months for car delivery, Fang Cheng Bao cuts 50,000 yuan in one day, should have bought a Tank instead.โ Industry insiders are skeptical about the potential for a significant sales boost in the niche off-road vehicle market from this reduction alone.
Meanwhile, the new energy off-road segment is heating up. The Deepal G318 (see specs) recently entered the market, priced at 175,900 yuan (24,400 USD). It offers dual-motor all-wheel drive and a rear axle differential lock. Higher-end models, priced at 229,900 yuan (31,900 USD), include air suspension and CDC dampers, features previously seen in models above 260,000 yuan (36,070 USD).
Fang Cheng Baoโs price cut directly challenges Great Wallโs Tank series, particularly the popular Tank 300 (see specs). Despite declining sales in other brands, Great Wallโs Tank remains intense with a loyal customer base. The Bao 5โs lower fuel consumption and compatibility with 92-octane gasoline make it economical. Many believe its initial lack of popularity stemmed from its high price.
BYD is confident in its sub-brand, Fang Cheng Bao, which has aggressively lowered prices to attract mainstream buyers and recruited top dealers. As 2024 progresses, the rivalry between Fang Cheng Bao and Tank will benefit consumers with better deals and more options in the new energy off-road market. It remains to be seen if Fang Cheng Bao will compensate existing customers upset by the price cut.
