AutoBeta(AutoBeta.net)05/01 Report--

On April 30, BYD Automobile Co., Ltd. filed a recall plan with the State Administration of Market Supervision and Administration, recalling a total of 21095 E5 vehicles produced from February 16, 2017 to March 24, 2019, and a total of 1486 Song DM cars produced from April 5, 2017 to July 15, 2018. The recall totaled 22581 vehicles.

For the vehicles within the scope of this recall, due to the untimely updating of data that can be used for early warning at the vehicle terminal under certain charging conditions, it is not conducive to timely finding changes in some parameters of the vehicle through the remote data platform, resulting in possible security risks can not be timely early warning through the remote data platform, there are security risks.

In view of the above defects, BYD Automobile Co., Ltd. will authorize dealers to upgrade vehicle terminal software for vehicles within the scope of the recall free of charge, in order to eliminate safety risks.

BYD is known as the "new energy leader". According to the data, total car sales in the first quarter of 2021 were 104145, up 69.97% from a year earlier. Of these, sales of new energy vehicles were 54751, an increase of 146.72 percent over the same period last year.

On April 28th, BYD released its latest financial report, showing that operating income in the first quarter of 2021 was 40.992 billion yuan, an increase of 108.31% over the same period last year. The net profit was 237 million yuan, an increase of 110.73% over the same period last year. Deducting the non-net loss of 82 million yuan, an increase of 82.69% over the same period last year.

Although all kinds of BYD data show growth, but based on the impact of the epidemic in 2020, compared with the more normal 2019, there is no large gap in sales, but there is a large gap. Data show that in the first quarter of 2019, BYD achieved operating income of 30.304 billion yuan, net profit of 750 million yuan, deducting non-net profit of 412 million yuan.

Obviously, BYD's performance in the first quarter of this year is far from as good as expected. Although the sales figures for the first quarter of 2021 are roughly the same as in 2019, net profit is much higher than in 2021 when operating income is lower than in 2021.

The performance is not good, and the market share is constantly being eroded. BYD is no longer the king on the new energy list. SAIC GM Wuling topped the list of new energy vehicle sales in the first quarter of 2021, with Tesla in second place and BYD in third place, according to FIFA data.

In BYD's product camp, except for Han EV, there is not much presence of other products, especially BYD E1, which specializes in subcompact cars with Wuling Hongguang MINIEV, which sold only 229 cars in the first quarter, compared with 72500 for Hongguang MINIEV.

In the past year, the new energy vehicle market is extremely hot, as the main intelligent car products continue to launch, while as a traditional automaker, BYD's new energy products are lack of new ideas, which aggravates the product crisis. Of course, BYD is also gradually addressing this disadvantage, such as the newly launched Qin PLUS EV, Song PLUS EV, Tang EV and E2 models, all equipped with blade batteries, which have major upgrades in core pain points such as battery life, and are expected to bring significant sales increments after launch.

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