Toyota drops the price of bZ3 by $2,800 on its first day of sales

07 March 2023

Toyota bZ3 is not having a good start by any means, the company was forced to introduce a RMB 20,000 ($2,800) discount on the first day of sales to entice potential customers. The bZ3 went on sale this week and Toyota was hoping its starting price of RMB 189,800 was attractive enough but it appears the customers had different ideas.

Toyota bZ3 (bZ stands for Beyond Zero) has been developed jointly by Toyota and BYD. The electric sedan is based on the e-TNGA platform with battery and electric motors provided by BYD’s subsidiary, FinDreams.

There is a choice of two LFP batteries, the customers can either opt for the 49.92 kWh battery pack or the larger one with 65.28 kWh capacity. The latter, when coupled with the more powerful 180 kW electric motor, delivers 616 km of CLTC certified range.

The smaller battery is coupled with the slightly weaker 135 kW motor and this combination delivers 517 km of CLTC certified range. Until now we only saw official photos of the bZ3 and some spy shots but today we found the first shots of the interior and although it looks nice, the use of plastic in the cabin is reminiscent of the late 90s - just look at the door panel, it is a one, continuous slab of plastic with a little bit of fabric for the armrest.

The bZ3 is not the first Toyota to be needing a price reduction, its SUV sibling, the bZ4X, suffered the same fate. The company had to drop its price by RMB 30,000 ($4,300) just to keep the customers interested enough.

What is happening with Toyota in China? Unlike in the rest of the world, the company hasn’t got the brand recognition it enjoys everywhere else. BYD, which Toyota makes cars with, has a far stronger image and many people prefer to buy a “real” BYD car, rather than one made with Toyota.

Toyota is in serious trouble in China, its sales in 99% come from gasoline or diesel powered vehicles. The issue with that is huge, after July 1 this year, China is introducing the world’s most stringent emissions regulations - they are twice as stringent as the current Euro 6 standards. Unfortunately, none of Toyota’s ICE vehicles meet the new regulations and it means it will have to stop selling its cars in just 3 months.

The company was hoping its EV sales could at least try and replace part of its model portfolio. Unfortunately the customers are disappointed by the charging performance of the Toyota bZ4X in cold temperatures. We need to remember that half of the Chinese population live in areas where below freezing temperatures in winter are a daily occurrence. Chinese social media is full of horror stories of low range or slow charging, and people take notice.

Via