BYD Discounts Show China’s EV Price War Is Worsening

China’s efforts to cool its automotive price war are faltering as BYD Co. and rivals expand discounts to avoid ceding ground in the world’s largest car market.

The average price reduction for BYD cars accelerated to 10% in March, the highest in two years, according to China Auto Market data compiled by Bloomberg. Discounts by competitors such as Geely Automobile Holdings Ltd. and Chery Automobile Co. have also edged higher, according to the data.