AutoBeta(AutoBeta.net)04/28 Report--

The 2005 champion version of the BYD destroyer was officially launched on April 28, with a total of five models with a price range of 101800-148800 yuan. Compared with the 2022 destroyer 05, the champion version of the destroyer 05 canceled the 55KM comfort model, which was originally priced at 121800 yuan, and added the 120KM Honor model with a price of 137800 yuan. In other words, the destroyer 05 champion version is up to 30,000 yuan lower than the cash model.

It is understood that the destroyer 05 is a new model launched by BYD in March 2022. It is the first model in the ocean net warship series, with a price of 11.98 yuan to 155800 yuan. Later, due to the decline of new energy subsidies, the price of the model rose by 2000 yuan in January 2023.

As a small modified model, the destroyer 05 champion version is basically consistent in appearance, interior design and power system. It is understood that the destroyer 05 championship version added the appearance of ink blue and glazed jade blue interior color, while adjusting the configuration of the vehicle part.

In terms of power, the 05 champion version of the destroyer still carries a DM-i hybrid system composed of a 1.5L naturally aspirated engine and an electric motor, with a maximum engine power of 81kW and a peak torque of 135N ·m. The drive motor provides two different adjustments according to the difference of pure electric mileage, the maximum power 132kW and peak torque 316N ·m of the 55km version and 325N ·m of the 120km version.

BYD will lower the price of the destroyer 05 to 100000 yuan, and will also face up to joint venture fuel vehicles. Although fuel vehicles are still in the mainstream position in the A-class car market, such as Nissan Xuanyi, Volkswagen Longway / Bora, Toyota Corolla / Liling and so on, with the rapid development of new energy vehicles and policy support, new energy models represented by BYD will also play a leading role.

On April 27, BYD disclosed its results for the first quarter of 2023. During the reporting period, BYD's operating income was 120.173 billion yuan, an increase of 79.83% over the same period last year, net profit was 4.13 billion yuan, up 410.89%, and non-net profit was 3.565 billion yuan, an increase of 593.68% over the same period last year.

As for the increase in revenue, BYD said it was mainly due to the increase in sales of new energy vehicles. Data show that BYD sold 552100 cars in the first quarter of 2023, an increase of 89.47 percent over the same period last year, of which 547900 new energy passenger vehicles were sold, up 92.43 percent from the same period last year. It is worth mentioning that at present, the sea business has become a new growth point for BYD cars. During the reporting period, BYD exported a total of 38700 passenger cars. As of March this year, BYD's new energy passenger cars have entered Japan, Germany, Australia, Brazil and other countries.

April 2023 marks the first anniversary of BYD's suspension of the sale of fuel cars. In the past year, BYD has handed over a good report card. In 2022, BYD put forward the annual sales targets of 1.5 million units and 1.8 million units respectively, and exceeded the sales target. Data show that BYD sold 1.8025 million cars in 2022, an increase of 149.88 per cent over the same period last year.

At present, BYD is not only the largest new energy vehicle manufacturer in China, but also the largest new energy vehicle manufacturer in the world. In addition, BYD has overtaken FAW-Volkswagen to become the number one manufacturer of passenger cars in 2022, according to the Federation of passengers.

During the 2023 Shanghai International Auto Show, Li Yunfei, general manager of BYD's brand and public relations department, said in an interview that BYD targeted sales of 3 million vehicles this year, including overseas and Chinese markets, while the target completion rate for the first quarter was 18.4%. For BYD, the target of 3 million vehicles is still very distant. Earlier, Wang Chuanfu, chairman of BYD, said bluntly that his goal was to become China's largest carmaker by the end of the year.

To meet its target of 3 million vehicles, BYD needs to sell an average of 816000 vehicles in the remaining three quarters. In order to increase sales, BYD on the one hand through momentum, looking up to impact the high-end market, on the other hand, with the help of dynasty, ocean series models to ensure the size of the market. After entering 2023, BYD launched 99800 yuan of Qin PLUS DM-i champion version and 73800 yuan of seagulls to achieve the same price of oil and electricity.

BYD, how to lie down and make money? As we all know, BYD includes three sectors: automobile business, mobile phone parts and assembly business, rechargeable battery and photovoltaic business, of which the automobile business is the main source of revenue for BYD. In 2022, BYD's auto business achieved operating income of 324.691 billion yuan, accounting for 76.57% of the total revenue, with a gross profit margin of 20.39%.

BYD has become a rare car company with high gross margin in the new energy automobile industry, second only to Tesla. In this regard, ideal car founder Li Xiang said bluntly, "under the dealer system, BYD's gross profit margin in the fourth quarter is 22.8%, which is not even lower than Tesla's 25.9% gross profit margin under the direct operation system."

In terms of technology and products, BYD has enough self-confidence and strong enough cards, but it is not easy for BYD to climb the slope of the brand.

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