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New energy vehicles are BYD's proud business, but as the market cools, BYD's new energy vehicles have also suffered a setback. The latest sales report showed that BYD sold 33725 vehicles in June, down 13% year-on-year, including 14165 new energy vehicles, down 46.7% year-on-year, while fuel vehicles sold 19560 vehicles, up 60.80% year-on-year.

Once again, BYD's new energy vehicles were "defeated" by fuel vehicles, and sales fell for 12 consecutive months.

In the first half of 2019, BYD's new energy vehicles increased significantly, by 94.5%, surpassing the sales volume of its own fuel vehicles, while BYD's fuel vehicle sales fell by 45% in the same period. However, since entering the second half of the year, BYD's new energy business has been continuously frustrated due to the substantial reduction of subsidies and changes in market environment, resulting in a decline in sales volume throughout the year.

In 2019, BYD's cumulative sales volume of new energy vehicles was 229,500, down 7.4% year-on-year, while BYD's sales volume of fuel vehicles was 231,900, down 15% year-on-year. The sales volume of the two businesses is very close.

Since entering 2020, the entire new energy vehicle market, including BYD's new energy business, seems to have lost its way. In the first half of 2020, BYD's cumulative sales volume of new energy vehicles was only 60,700, down 58.34% year-on-year, while BYD's sales volume of fuel vehicles in the same period was 98,000, with a year-on-year growth of 18.85%. Today, BYD's new energy vehicles, as the main force, are dragging their feet.

In fact, the downturn in BYD's new energy business is almost synchronized with the overall new energy market trend. According to data from the China Automobile Association, sales of new energy vehicles in China fell by 38.7% from January to May this year. At the same time, it can also be seen that BYD's new energy business decline is greater than the market average.

BYD's breakthrough in new energy seems to be only a brand new model "Han" this card. BYD Han model pre-sale price range of 23.00- 280,000 yuan, will launch 3 pure electric models, 1 plug-in hybrid model. Han is equipped with BYD lithium iron phosphate blade battery, battery capacity is 76.9kWh, the official promotion of the blade battery main selling point is "safety."

A year ago, BYD Chairman Wang Chuanfu once said: "In the current situation where traditional cars are facing a huge downward trend, we should further restrict traditional fuel vehicles, gradually realize a comprehensive ban on sales, firmly support the full electrification of new energy vehicles, liberalize the restrictions on new energy vehicles in first-tier cities, and tilt the indicators to new energy vehicles in an all-round way." Wang Chuanfu also suggested that private cars should be gradually electrified by 2030.

Today, new energy vehicles are still difficult to take on big responsibilities, both in terms of BYD's sales structure and overall market environment.

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