AutoBeta(AutoBeta.net)07/04 Report--

On the evening of July 3, BYD released its June production and sales figures. Sales of new energy vehicles in June were 134036, up 162.8 percent from the same period last year, of which sales of new energy passenger vehicles were 133762 in June, up 168.8 percent from the same period last year. In addition, from January to June this year, BYD sold 641350 cars, up 314.90 percent from the same period last year, and 638157 new energy passenger vehicles, up 324.84 percent from the same period last year. So far, based on BYD's conservative target of selling 1.5 million vehicles in 2022, BYD had achieved 42.5 per cent of its annual sales target of 1.5 million vehicles by June.

In terms of specific model segments, BYD sold 64218 DM series vehicles in May, while the remaining 69544 came from EV models. Among them, the Han family sold 25439 vehicles, up 386% from the same period last year; the Tang family sold 8134 vehicles, and the Tang EV increased by 837.1%; as the current sales pillar of BYD, the Song family sold 32077 vehicles, and the Song DM series increased by 386.6%; the Qin family sold 26623 vehicles, the Song PLUS EV increased by 163.8%, and the Yuan family sold 19731 vehicles, of which Yuan PLUS increased by 45.3%. Sales of dolphins were 10376, up 61.4% from the previous month. Sales of the destroyer 05, the first sedan owned by Oceannet, were 7464 in June, up 63.8% from the previous month.

Since March, BYD has sold more than 100000 vehicles for four months in a row, bringing the cumulative sales of new energy passenger cars to 638157 in the first half of this year. For comparison, Tesla delivered 564743 new cars worldwide in the first half of the year, which was once again overtaken by BYD. Among them, Tesla sold a total of 215851 vehicles in China from January to May in 2022, lagging far behind BYD in the Chinese market. From March to April this year, affected by the epidemic and Shanghai control, Tesla's production capacity was limited and sales in the Chinese market were hit hard. The main reason for BYD's growth is that BYD itself has a relatively perfect supply chain. As a battery supplier, its self-developed and produced blade batteries largely avoid the problem of capacity constraints. In addition, the automotive industry is concerned that the positioning between BYD and Tesla is different. BYD's product price ‍‍ covers a wider range, the average price is lower than Tesla, and the price of some models is still around 100000 yuan. Secondly, while the sales of BYD hybrid models / plug-in models have risen sharply, it is also rapidly expanding its product line, which has more selectivity for consumers. With the improvement of the epidemic and the expansion of production capacity, Tesla sales may gradually pick up, but at the same time, Tesla will face more and more fierce competition. At present, many domestic auto companies, including BYD, ideal Automobile, Xiaopeng Automobile and so on, are laying out new products and comprehensive pricing, some of which coincide with the price range of Model 3 and Model Y.

China is currently the world's largest market for new energy vehicles. Data show that a total of 3.21 million narrow new energy passenger vehicles were sold in the world from January to May in 2022, of which 1.9 million were sold in China, accounting for 59 per cent of the global market. Cui Dongshu, secretary general of the Federation of passengers, said that China's new energy passenger vehicles account for 59% of the world's new energy, which is mainly due to China's strong demand for new energy, while the production and sales of traditional cars and new energy vehicles in Europe are low, so China's development is very strong. And BYD is the largest manufacturer in the domestic new energy vehicle market. Li Qian, secretary of the board of directors of BYD, said during the CCTV Financial interview program on May 30 that BYD is still in short supply, with orders in hand of more than 500000 vehicles and a delivery period of 4-6 months, and pointed out that it would be better if sales were not affected by the epidemic, and the annual sales target for this year mainly depends on the quality of the supply chain. According to relevant reports, while the new products continue to release, BYD is accelerating the release of more production capacity. On the morning of June 30, the first phase of the BYD Hefei base project, located in Xiatang Industrial Park of Changfeng (Shuangfeng) Economic Development Zone, ushered in the first vehicle off the line, and from the current orders, BYD's outstanding orders have been increasing instead of decreasing. In this case, BYD is expected to have a greater hope of hitting 2 million vehicles.

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