AutoBeta(AutoBeta.net)08/06 Report--

On August 5, BYD Automobile released the latest data showing that BYD passenger car sales in July were 56,975 units, up 89.4% year-on-year, of which BYD new energy vehicle sales were 50,057 units, up 262.7% year-on-year, while fuel vehicle sales were 6,918 units, down 5.96% year-on-year.

BYD's sales of new energy vehicles increased significantly, including 25061 DM models and 24996 EV models. In January this year, BYD released its self-developed "DM-i Super Intermixing" system, and announced that three models including Qin PLUS DM-i, Song PLUS DM-i and Tang DM-i were pre-sold, and were officially launched in March and April for six consecutive years. BYD DM-i models have been popular with consumers since their launch, but the surge in orders has also led to tight supply for BYD. On May 17, BYD issued a statement apologizing for the long waiting period for new orders and saying it would further expand production capacity. It is understood that in addition to the Qin PLUS DM-i, Song PLUS DM-i, Tang DM-i three super hybrid models released in January, BYD will also launch other DM-i models, including Song MAX DM-i, Han DM-i, etc., which indicates that DM-i hybrid system has become one of the keys to BYD hybrid model sales promotion.

BYD's sales volume of medium and large cars in July was 8522, of which BYD Han EV basic monthly sales remained above 5000. A few days ago, BYD Han EV added a standard endurance version of the luxury model as a family entry model, after subsidies sold for 209,800 yuan. The new car continues to be equipped with lithium iron phosphate battery, NDEC comprehensive range of 506km, 99km less than the previous minimum BYD Han EV ultra-long luxury version, the new car is expected to start delivery in September. As the launch of the new car reduces the price of the Han family door frame, it is expected to further stimulate BYD Han sales after delivery.

According to the plan, BYD's sales target for new energy vehicles in 2021 is 400,000, of which EV and DM hybrids account for half each. Looking back at BYD's latest sales, the proportion of its fuel vehicles is decreasing, narrowing to 12.05% by July. In other words, in the next five months, BYD needs to sell 205,000 new energy vehicles. According to the above plan, BYD will launch at least 5-6 new models in 2021, among which BYD Dolphin will be launched in August. As BYD's entry-level pure electric vehicle, BYD will benchmark the Great Wall Euler brand. According to previous reports, BYD Dolphin is the first model based on BYD e platform 3.0. With BYD's brand-new logo, it will launch four models: off-road version, angel version, fashion version and racing version, which will be sold on BYD e website in the future.

In addition to launching a number of new cars, BYD's high-end brand is also in full swing. Li Yunfei, general manager of BYD's public relations department, revealed in an interview with the media that BYD will release a brand-new high-end brand in the fourth quarter of this year. The car will be planned under a brand-new BYD brand with a price range of 500,000 - 800,000 yuan. Li Yunfei's evaluation of this car is: This car is enough to make people see it at first sight, and their eyes don't want to leave.

In addition, BYD will supply Tesla with "blade batteries" in the second quarter of next year, and Tesla models currently equipped with "blade batteries" have entered the C-like testing stage, according to the Financial News Agency. Stimulated by various news, BYD's market value hit a new high. Today, BYD shares once rose more than 5%, the total market value exceeded 900 billion yuan. So far, BYD shares have fallen slightly to 303.02 yuan, up 1.24%, with a total market value of 867 billion yuan, exceeding Sinopec.

Based on this, many institutions have also raised BYD's target share price, Citigroup will BYD A share target price to 352 yuan/share, Huachuang Securities will raise its target price to 360.7 yuan/share. From the institutional point of view, BYD's market value is expected to break trillion yuan.

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