AutoBeta(AutoBeta.net)09/02 Report--

On September 2nd, BYD released production and sales figures for August 2022. Data show that in August 2022, BYD sold 174915 new energy vehicles, an increase of 184.83 percent over the same period last year, and 173977 new energy passenger vehicles, an increase of 187.52 percent over the same period last year, of which 91299 plug-in hybrids and 82678 pure electric vehicles were sold.

Since BYD completely stopped the sale of fuel cars, BYD's sales have been rising all the way, and it has gradually become China's new energy leader. Data show that from January to August this year, BYD sold a total of 974348 new energy passenger vehicles, an increase of 273.63% over the same period last year. So far, BYD has achieved 64.9% of its annual sales target of 1.5 million vehicles in 2022, and the remaining 35.1% will be achieved in the next four months.

In a recent BYD conference call, BYD Chairman Wang Chuanfu revealed that BYD is currently ordering 700000 units, and the delivery period for new car orders is 4-5 months. Power constraints and epidemic factors affected the delivery quantity in August, but there was an increase in August compared with July. BYD will strive for 280000 monthly delivery by the end of 2022. At the end of March this year, Wang Chuanfu also revealed at the investor exchange meeting: "conservatively estimated that BYD's order this year will reach 1.5 million vehicles, if the supply chain is done well, the order may hit 2 million vehicles." Based on the current sales calculation, BYD is not expected to have much problem in achieving its annual sales target of 1.5 million vehicles, and BYD is expected to hit its annual sales target of 2 million vehicles.

BYD has not officially announced the specific model of the product. At present, BYD's products on sale can be divided into dynasty and ocean series, of which dynasty series include Qin, Tang, Song, Yuan and Han, while ocean series include dolphins, destroyers 05 and other models with a price range of 10-300000 yuan.

Among them, BYD Seal officially launched on July 29, the new car positioning medium-sized pure electric car, a total of four models, the subsidized price range is 20.98-286800 yuan, starting delivery in August. With regard to the sales performance of the model, Wang Chuanfu said that the seal model that has just been put into mass production is under great pressure due to the epidemic and power cuts. More than 1000 seals have been delivered so far, and the situation will be greatly improved after two months of climbing.

In the next product planning, BYD has announced a number of models in a short period of time. In this Chengdu auto show, BYD Ocean Network warship series of the second SUV model frigate 07 has been unveiled and opened for pre-sale at the same time. The new car is located as a medium-sized SUV, with a pre-price of 22-280000 yuan, and is expected to go on sale in the fourth quarter of this year. In addition to the frigate 07 new car, also at the Chengdu auto show, BYD also set up a separate booth for the Tengli brand and announced the brand's new concept car INCEPTION and medium-and large-sized MPV Teng D9, in which the INCEPTION concept car is the first medium-sized SUV of the Tengli brand, while the Tengli brand's first MPV model, Tengli D9, was officially launched on August 23, and delivery of the new car is expected to begin in September. Zhao Changjiang, general manager of Tengli sales Division and chief co-founder of Tencent Automotive, previously said that the cumulative order for Teng Teng D9 has exceeded 40,000 since it was pre-sold.

In addition, the day before the Chengdu auto show, BYD launched another blockbuster new car, the BYD Tang DM-p, with a total of three models priced between 289800 and 329800 yuan, while the Tang DM-i 252KM premium model went on sale at the same time at 279800 yuan. After the new car comes on the market, Tang will have three power options: DM-i, DM-p and EV.

For longer-term product planning, BYD will launch a luxury car brand in 2023, and the price of the first model will reach one million yuan. "the high-end brand is tentatively scheduled to be released at the end of this year, and the first hard off-road model will be unveiled at the same time, priced at more than 1 million yuan," a BYD official said. In addition, the fifth generation of DM-i system will be launched in 2024. With the release of more mid-and high-end products, BYD's product rectangle will be more comprehensive and continue to develop the new energy market, and the market needs to know how much driving effect more mid-and high-end products can bring to BYD's sales. Wang Chuanfu believes that the entire domestic new energy market will reach 90-10 million vehicles in 2023, and BYD expects to deliver more than 4 million vehicles.

At present, the vehicle purchase tax exemption for new energy vehicles has been confirmed to continue until the end of next year, with an estimated increase of 100 billion yuan. The extension of vehicle tax exemption for new energy vehicles will also further stimulate the growth of new energy vehicle sales. From January to July this year, new energy vehicles were exempted from vehicle purchase tax of 40.68 billion yuan, an increase of 108.5 percent over the same period last year, including 7.17 billion yuan in July, up 119.1 percent from the same period last year, according to the State Administration of Taxation. In response to the decline of subsidies for new energy vehicles next year, Wang Chuanfu pointed out that due to the growth of sales scale, BYD will reduce its raw material procurement costs by 3-5%, thus offsetting these costs.

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