AutoBeta(AutoBeta.net)08/02 Report--

On August 1st, BYD announced that it produced and sold KuaiBao in July. Data show that BYD sold 342400 new energy vehicles in July 2024, an increase of 30.60% over the same period last year.

As the largest manufacturer of new energy vehicles in China, BYD has an absolute leading position in the new energy market, and has laid out four major brands: BYD brand, momentum, equation Leopard and looking up. However, its main source of sales still depends on the dynasty net and ocean net in the BYD brand. Data show that Chaochao and Ocean.com sold 325700 vehicles in July, accounting for the vast majority of total sales. Among them, Dynasty Network sales of 172900 vehicles, Ocean Network sales of 152800.

Among the subdivided models, the Qin family had the highest sales among the subdivided models, with 73500 vehicles, while those in Yuan, Song, Han and Tang dynasties were 41000, 28300, 18100 and 12100 respectively. The top-selling model in Oceannet was Song PLUS, with 36900, seagulls and seals selling more than 30, 000, destroyers 05 with 25600, and dolphins selling more than 10, 000 and 12400, respectively.

In addition to dynasty net and ocean net, BYD has laid out three major brands in the high-end market: momentum, equation Leopard and look up. At present, some brands already have a certain market situation, but compared with traditional luxury car brands, the brand strength of BYD's high-end market is still insufficient. The data show that in July, Tengli sold 10300 vehicles, of which the Tengli D9 accounted for the vast majority of the total sales, while the Teng Teng N7 accounted for 1310. Look up to the brand sales of 439, all from U8 models; equation Leopard brand sales of 1842, all from Leopard 5 models.

Overall, BYD's market performance in high-end brands is still very limited, and it is still difficult to increase in a short period of time. Of course, it also has something to do with BYD's early positioning. As the main family car, BYD's products are more focused on the price range of 100000-200000. Since 2024, BYD has reduced the price of some of its models to less than 100000 yuan. On February 19th, BYD Qin PLUS Honor Edition and Destroyer 05 Glory Edition models went on sale, the official price dropped to 79800 yuan; on May 28th, Qin L DM-i and Seal 06 DM-i models equipped with fifth-generation DM technology went on sale with a price range of 99800 yuan to 139800 yuan, and the listing of the two models further squeezed the market space of joint venture fuel cars.

In fact, for BYD, it is much more difficult for the brand to go up than down, and BYD launched the look up brand and equation Leopard brand, or just to improve the image and value of the brand. On July 29th, the official announced that the price of the whole series of equation Leopard 5 was reduced by 50, 000 yuan, and the price range was reduced from 28. 98-352800 yuan to 23. 98-302800 yuan. Industry insiders believe that BYD cut the price or to boost sales and expand market share.

On July 25th, BYD Dynasty's brand-new model Song L DM-i and Ocean Network's new Song PLUS DM-i officially launched. The two new cars both launched five models with a price range of 13.58-175800 yuan. The biggest highlight of the two models is that BYD's fifth-generation DM hybrid technology is equipped with BYD's fifth-generation hybrid technology.

According to the plan, BYD's annual sales target is 3.6 million vehicles in 2024. According to the latest data, from January to July 2024, BYD sold 1.9554 million vehicles, an increase of 28.83% over the same period last year. According to calculation, BYD's annual target completion rate for the year is 54.32%, and it is expected to meet the sales target on schedule.

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