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Today, BYD announced the production and marketing of KuaiBao in April 2023. According to KuaiBao, BYD produced 209448 new energy vehicles in April, with a cumulative output of 776631 from January to April, an increase of 96.61 percent over the same period last year.

BYD sold 210295 new energy vehicles in April, an increase of 98.3% over the same period last year, compared with 106042 in the same period last year. Of these, passenger car sales were 209467, up 98.59% from the same period last year; pure electric sales were 104364, up 81.81% from the same period last year; and plug-in hybrid sales were 105103, up 118.64% from a year earlier. BYD sold 762371 new energy vehicles from January to April, an increase of 94.3% over the same period last year, when it sold 392371 vehicles. Specific brand sales: dynasty and ocean two major brands sold 198941 vehicles in April, up 88.6% from a year earlier; Tengli sold 10526 cars in April.

It is worth noting that BYD's monthly sales have hit record highs since it announced in April last year that it had officially stopped production of fuel cars and would focus on pure electric and plug-in hybrid vehicles in the future. Data show that BYD sold 740100 vehicles in 2021, including 603900 fuel vehicles and 136300 new energy vehicles. BYD sold 1.8685 million cars in 2022, an increase of 152.46 percent over the same period last year, of which 1.8574 million new energy passenger vehicles were sold, up 212.82 percent from the same period last year. In addition, according to BYD's latest first-quarter financial report, BYD's operating income was 120.173 billion yuan, up 79.83 percent over the same period last year; net profit was 4.13 billion yuan, up 410.89 percent over the same period last year; deducting 3.565 billion yuan from non-net profit, up 593.68 percent over the same period last year; the net profit in the first quarter of this year has exceeded the total net profit for the whole of 2021. As for the increase in revenue, BYD said it was mainly due to the increase in sales of new energy vehicles.

It is not difficult to see that for BYD, the strategy of stopping production of fuel vehicles is successful. It not only conforms to the global automobile development trend, but also is the necessity of BYD automobile transformation. Unlike traditional automakers such as BBA, before BYD announced the suspension of production of fuel vehicles, the proportion of sales of its fuel vehicles was also in a declining trend, while for other traditional automakers, fuel vehicles are the main source of sales. Abandoning fuel vehicles means overthrowing all the accumulated technology, which also means that it takes a lot of time and financial resources. This is the main reason why it is not easy for traditional carmakers to give up fuel cars.

In addition to stopping production of fuel-fueled cars, BYD has also accelerated the launch of its brands and accelerated its overseas layout. At present, BYD Automobile has three major brands: BYD, Teng Teng and Wang Wang, among which the BYD brand covers two major product lines: dynasty and Ocean net, focusing on markets of less than 300000 yuan. The Tengli brand focuses on the high-end market in the range of 30-500000 yuan, with listed models such as Tengli D9 and Tengli N7, followed by sedans and urban sports cars. While looking up to the brand, it focuses on the million-level market, and in the future, self-supporting channels will be established, including experience centers in Shenzhen, Beijing, Shanghai, Guangzhou, Hangzhou and Chengdu.

According to the official plan, in the future, BYD's brands will form a dynasty, ocean, momentum, look up and professional personalized brand matrix, covering areas from household to luxury, from mass to personalized, to meet the needs of users in all directions. According to media reports, BYD's professional personalized new brand internal code name "F brand" positioning will be between looking up and momentum, covering sports cars, off-road, sedan cars and other categories. According to sources, the overall price positioning of the brand will target luxury brands such as BBA, focusing on multi-category, unique professional-grade new energy models. Among them, the first product will focus on the off-road field, and the overall performance of the standard Mercedes-Benz G will be launched this year.

After entering 2023, BYD opened a foray into the high-end luxury car market. At the Shanghai Auto Show in April, look up to the brand's first production model U8 officially opened the pre-sale, the new car pre-price of 1.098 million yuan. In addition to looking up to cars, other BYD brands are also launching new cars one after another. Seagull, a brand new pure electric small car owned by BYD Ocean Network, was officially launched on April 26, with a total of three models with a price range of 7.38-89800 yuan. On April 28th, the 2005 champion version of the BYD destroyer was officially launched, with a total of five models with a price range of 101800-148800 yuan.

According to the earlier plan of Wang Chuanfu, chairman of BYD, this year's sales target is to start with 3 million vehicles and strive to double to 3.6 million. Based on its annual sales target of 3 million, BYD achieved 21.18% of its annual sales target in April, meaning it needs to sell 2.2376 million vehicles in the next eight months, with an average monthly sales of 279700. With the launch of BYD's new models, it will not be difficult to meet the annual sales target of 3 million.

In addition, BYD has accelerated the pace of passenger cars going out to sea since 2022. According to incomplete statistics, the BYD passenger car layout market has been distributed in 51 countries and regions around the world, such as the Netherlands, Sweden, Germany, Norway, Denmark, Australia, Japan, Thailand, India, Brazil, the Bahamas, Colombia, Costa Rica, the Dominican Republic and so on. According to BYD, since 2022, BYD has accelerated its presence in overseas markets, and overseas sales of new energy passenger cars have risen month by month since then. According to the latest data, BYD sold 14827 new energy passenger vehicles overseas in March 2023, compared with 13312 in March.

Of course, there will be more challenges for BYD or other car companies in 2023 against the backdrop of the end of subsidies for new energy vehicles and the big price cuts launched by car companies. Because the end of subsidies for new energy vehicles also means that the profitability of car companies will face the cost pressure of selling more vehicles to offset the decline of new energy subsidies.

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