AutoBeta(AutoBeta.net)10/03 Report--

On October 3, BYD released production and sales figures for September 2022. Data show that in September 2022, BYD sold 201259 new energy vehicles, an increase of 183.1 percent over the same period last year, and 200973 new energy passenger vehicles, an increase of 187.0 percent over the same period last year, of which 106032 plug-in hybrids and 94941 pure electric vehicles were sold.

In terms of specific models, BYD sold 106032 DM models and 94941 EV models in September. Among them, the Han family sold 31497 vehicles, the Han DM series increased by 645% over the same period last year, and the Tang family sold 15058 vehicles, up 536.6% over the same period last year. As the current sales pillar of BYD, the Song family sold 46475 vehicles, and the Song DM series increased by 294.3% compared with the same period last year. Qin family sold 39515 vehicles, Qin EV increased by 142.1%, and Yuan family sold 23503 vehicles, of which Yuan PLUS increased by 67.6% month-on-month. Dolphins sold 24956 dolphins, up 731.9% from a year earlier; seals sold 7473; and Ocean net's first car, the Destroyer 05, sold 9101.

From January to September in 2022, BYD's cumulative sales of new energy passenger cars reached 1175321, an increase of 255.30% over the same period last year. So far, BYD has achieved 78.4% of its annual sales target of 1.5 million vehicles in 2022, and the remaining 21.6% will be achieved in the next three months. Earlier, BYD Chairman Wang Chuanfu revealed on a conference call that BYD currently has more than 700000 on-hand orders, and the delivery period for new car orders is 4-5 months. On Sept. 22, BYD said on the interactive platform that the company had sufficient orders on hand. At the same time, BYD also added that BYD's new energy vehicles operate in 6 continents, more than 70 countries and regions, and more than 400 cities. According to the analysis of BYD's current sales situation, there is no doubt that BYD will achieve its annual sales target of 1.5 million vehicles for the whole year, and it is expected that BYD will hit the annual sales target of 2 million vehicles.

On April 3, 2022, BYD announced that it would stop production of fuel vehicles, becoming the first traditional car manufacturer in the world to stop selling fuel vehicles. Since BYD completely abandoned fuel vehicles, BYD has been light, and its sales have soared all the way. BYD has gradually become China's new energy leader. BYD has surpassed North and South Volkswagen to win the top spot in the passenger car market for two months in a row, judging from sales in recent months. BYD's sales are still rising, and unsurprisingly, BYD may once again overtake North and South Volkswagen. Of course, it is only speculation at present that it will take official data to determine whether this is the case in the end. BYD is more than enough to lead mainstream joint venture brands such as SAIC Volkswagen, Dongfeng Nissan, Guangzhou Auto Toyota, FAW Toyota and so on.

At present, BYD's products are mainly "dynasty" + "ocean" series, and its model rectangle is also gradually clear. Among them, dynasty net is mainly composed of Qin, Han, Song, Tang, Yuan and other models. Ocean net includes dolphins, destroyers 05, seals and other models, the product price covers the range of 10-300000 yuan. In the rich product matrix, the sales of star models such as Song, Qin, Han, Yuan, Tang Family and Ocean Series are very outstanding. Take the retail sales list of new energy vehicles in August as an example, according to statistics, in the BYD dynasty series, the Song, Qin, Han, Yuan and Tang families all entered the top 10 of the retail sales list of new energy vehicles in August. Sales were 42500, 37500, 26000, 15100 and 10800 respectively. In the ocean series, dolphin sales also reached 23300, ranking sixth on the list, while destroyer 05 ranked 13th with 8705.

It is worth noting that the current BYD product matrix is still being improved. On August 25, BYD Tang DM-p officially launched three new models with a price of 289800-329800 yuan, while Tang DM-i 252KM went on sale at the same time at a price of 279800 yuan. After the new car comes on the market, Tang will have three power options: DM-i, DM-p and EV.

In addition, BYD Ocean Network warship series second SUV model frigate 07 has been unveiled and opened at the same time pre-sale, the new car positioning medium-sized SUV, the pre-price of 22-280000 yuan, is expected to be officially launched 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 D9, the first MPV model of the Tengli brand, was officially launched on August 23rd. Official data show that as of Sept. 30, the Tencent D9 has won 28000 orders for 38 days on the market.

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.

With the introduction of a number of domestic favorable subsidy policies and high oil prices, new energy vehicles have brought more development opportunities. Wang Chuanfu, chairman of BYD, 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. Miao Wei, deputy director of the Economic Committee of the CPPCC National Committee and former minister of the Ministry of Industry and Information Technology, said that it is predicted that the production and sales of new energy vehicles for the whole of this year may reach 5.5 million, an increase of 56 percent over the same period last year, while the penetration target of 20 percent for new energy vehicles in 2025. Now it seems likely that it will be achieved three years ahead of schedule this year.

According to the latest forecast data of the Federation of passengers, retail sales of new energy vehicles in China are expected to be 580000 in September, an increase of 73.9 percent over the same period last year, an increase of 9.5 percent month-on-month, and a penetration rate of 29.7 percent. The Federation pointed out that at present, the market demand for new energy vehicles is strong, the production capacity of leading manufacturers is increased, the delivery cycle is shortened, and the policy of state subsidies and local licenses is nearing expiration, promoting the purchase of new energy vehicles in advance and providing strong support for the overall car market. From January to September this year, retail sales of new energy passenger cars are expected to exceed 3.84 million, with a cumulative penetration rate of nearly 26 per cent, substantially exceeding the target of 20 per cent.

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