AutoBeta(AutoBeta.net)04/03 Report--

On April 2, BYD announced the production and marketing of KuaiBao in March 2023. Data show that in March 2023, BYD sold 207100 new energy vehicles, an increase of 97.45 percent over the same period last year, of which 206100 were passenger vehicles, an increase of 97.52 percent over the same period last year. This is the first time that BYD has sold more than 200000 vehicles this year.

Official figures show that BYD sold 103400 DM models and 102700 EV models in March, respectively. In terms of brands, BYD Dynasty and Ocean.com sold a total of 195700 vehicles, up 87.6 per cent from a year earlier. Tengli brand sales were 10300, up 42 per cent from a month earlier. Among them, the Tengli D9 is the only model on sale under the Tengli brand, that is to say, the Tencent D9 sold 10300 vehicles in March. So far, BYD has not officially announced the sales of specific models.

In 2023, affected by the Spring Festival holiday in January, the overall car market sales were poor. BYD sold 151300 vehicles in January, up 62.44% from the same period last year, and 176700 in February, up 98.3% from the same period last year. Wang Chuanfu, chairman of BYD, said bluntly at the performance presentation on March 29 that domestic car demand from January to February this year was weaker than that of last year, but BYD's sales increased significantly compared with the same period last year. BYD aims to become the largest carmaker in China by the end of this year. On the specific annual sales target, Wang Chuanfu said that BYD's annual sales target of 3 million vehicles in 2023, and strive to double to 3.6 million vehicles. According to the analysis of global automakers' sales last year, if BYD can reach 3.6 million vehicles this year, it means that BYD has a chance to become one of the top 10 automakers in the world. As a reference, Honda sold 3.74 million vehicles in 2022, ranking sixth in the global auto sales list, followed by Ford with 3.67 million vehicles, ranking seventh in the global auto sales list.

By the end of March, BYD's cumulative sales of new energy vehicles in the first three months of this year were 552100, an increase of 92.81% over the same period last year, of which 547900 were passenger vehicles, an increase of 92.43% over the same period last year. According to the guaranteed sales target of 3 million vehicles, BYD has achieved 18.40% of its sales target of 3 million vehicles in the first three months, meaning that BYD will need to sell 2.4521 million vehicles in the next nine months, with an average monthly sales of 272500 vehicles, which may not be difficult for BYD to achieve the target.

It should be noted that at present, China is experiencing an unprecedented "price war", and BYD has also joined it in the form of price cuts at the dealer end and official reductions in some models. At present, BYD's sales come from dynasty, ocean.com and Tengli brands, with a price range of about 10-200000. Wang Chuanfu has previously said that the price of BYD's products at 10-200000 has pricing power, but the company also wants to be stable.

In addition to the above brand, in November last year, BYD officially launched look up to the brand, the first model looked up to U8 on January 5 this year, the new car positioning high-end hard off-road SUV, power equipped with four motors, the price range is expected to be in the range of 80-1.5 million yuan, the brand will also launch a new U9 car with pure electric performance, with a price range of up to one million. In addition, on March 31st, the latest road test photos of the first model of BYD's "F brand" (internal code name "SF") were also exposed online. the new car will be the first model of BYD F brand, built on a new new energy off-road platform. BYD F brand is expected to be officially launched in June, the price of the model will be pre-sold in the second half of the year, and the new car will focus on a market of 40-600000 yuan in the future. At that time, BYD will be jointly responsible for five major products: dynasty net, Ocean net, Teng Teng Brand, High-end look up Brand and the new F Brand. The price of the products will range from one million luxury to 100000 yuan.

In addition to layout products, BYD has accelerated its overseas market since 2022, and overseas sales of new energy passenger cars have also risen month by month since then. The latest data show that BYD sold 13312 new energy passenger cars in March 2023, and 2023 will also be an important node for BYD to focus on expanding overseas markets. On March 30th, BYD launched three pure electric models, Han EV, Tang EV and Yuan plus EV, at a brand launch and launch conference in Mexico City. The pre-sale price of Han EV is 1.369 million pesos (about 522000 yuan) and that of Tang EV is 1.399 million pesos (about 533000 yuan). The pre-sale price of the PLUS is 799000 pesos (about 305000 yuan). After the launch, the three models will be first sold in Mexico City and Guadalajara dealers, and then extended to Mexico.

According to the latest forecast data of the Federation of passengers, retail sales of narrow new energy passenger vehicles in China are expected to be 560000 in March, an increase of 25.8% over the same period last year, a month-on-month increase of 27.5%, and a penetration rate of 35.2%. At the 2023 China Electric vehicle 100 Forum, Cui Dongshu, secretary general of the National passenger vehicle Market Information Association, predicted that sales of new energy passenger vehicles would reach 8.5 million in 2023, an increase of about 30 percent over the same period last year. Wang Chuanfu also said that domestic sales of new energy vehicles are expected to reach 8.5 million to 9 million in 2023.

For comparison, sales of new energy vehicles in 2022 were 6.49 million, an increase of nearly 31% over the same period last year. However, as new energy vehicles maintain rapid growth, it is difficult for the overall passenger car market to maintain high growth, which also means that the traditional fuel vehicle market will shrink further. Wang Chuanfu said: "the timetable for the full electrification of domestic cars is in advance, the process is accelerating, faster than expected, and the industry should be fully anticipated and prepared."

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