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Three car companies announced price cuts, with BYD offering a discount of up to 18000 RMB.

2024-06-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)11/01 Report--

On November 1, BYD launched the "million Ocean Thanksgiving courtesy" campaign. It is understood that consumers who buy BYD Ocean net-related models before November 1-November 30 can enjoy substantial discounts, including destroyer 07, frigate 05 champion version, dolphin, seal champion version, Song PLUS champion version.

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Specifically, frigate 07 can enjoy 2000 yuan to 20000 yuan, dolphins 2000 yuan to 9000 yuan, seal champion version 2000 yuan to 9000 yuan, Song PLUS champion version 2000 yuan to 7000 yuan, and destroyer 05 champion version 2000 yuan to 7000 yuan.

As of press time, BYD did not release the latest sales of KuaiBao. Previous data showed that BYD sold a total of 2.0796 million vehicles in the first three quarters of 2023, an increase of 75.48% over the same period last year. According to the annual sales target of 3 million vehicles, the current target completion rate of BYD's sales is 69.32%. This means that BYD needs to maintain average sales of more than 300000 vehicles in the next three months to meet its sales target, while November is the off-season for traditional cars. During this period, BYD offered discounts to related models in order to drive sales growth and achieve its sales target of 3 million vehicles as much as possible.

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From the point of view of the degree of discount, the frigate 07 can enjoy 2000 yuan to 20000 yuan, equivalent to a discount of 18000 yuan, which is the largest discount of the five models. This may also be because sales are mediocre. Retail data show that frigate 07 sold 56298 vehicles in the first three quarters, while seals and destroyers 05 sold 57251 and 62832 respectively.

On the evening of October 30, BYD released its third quarterly report for 2023. According to the financial report, the company's operating income in the third quarter of 2023 was 162.151 billion yuan, an increase of 38.49% over the same period last year; the net profit was 10.413 billion yuan, up 82.16% over the same period last year; and 9.654 billion yuan was deducted from non-net profit, an increase of 80.95% over the same period last year. In addition, BYD's gross profit margin reached 22.12% in the third quarter, exceeding 20% in a single quarter for the first time in nearly three years, an increase of 3.4 percentage points over the second quarter.

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In addition to BYD, including LinkedIn and Euler, they also announced time-limited and discounted car purchases. Lectra announced that from November 1st to November 30th (including the same day), it will be able to enjoy eight rights and interests if it completes the locking order of the Leike 08 model and finishes picking up the car on December 31st, among which the more important contents include: completing the purchase subsidy of 6000 yuan, upgrading the Harman Catton 23 loudspeaker stereo for free, and choosing "Technology for Pride enjoyment package" to get free NOA service for five years, etc. After the discount, the price range of Lectra 08 is 20.28-282000 yuan.

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It is understood that Lectra 08 EM-P officially went on sale on September 9, with a price of 20.88-261800 yuan. Lectra 08 is the first strategic model of CMA Evo architecture and the first medium-sized SUV under LinkedIn. The new car is different from other Lecker models on sale in appearance and interior design. Lectra 08 will fill the gap in the medium-sized car market after its launch. In terms of power, the Lectra 08 EM-P will be equipped with a plug-in hybrid system consisting of 1.5T four-cylinder engines and three drive motors, providing pure electric life of 120km, 220km and 245km. It is worth mentioning that on the day of listing, Lecker officially announced that from now on to October 31, the price will be reduced by 9000 yuan on the basis of official guidance, and the price range after discount is 199800-279000 yuan.

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On October 31, the Euler Lightning Cat Night Edition optional package was officially put on the market, with different prices for each model, ranging from 1500 yuan to 2500 yuan. In addition, Euler officially offered a time-limited discount of 30000 yuan, and the price range of the three Lightning Cats after the discount is 176300-241300. It is understood that Euler Lightning Cat positioning a pure electric medium-sized car, competitors mainly include Changan Deep Blue SL03, Red Flag E-QM5 and BYD Seal pure electric version, the competition is still relatively fierce. Retail data show that only 8463 Euler lightning cats were sold in the first three quarters of 2023.

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According to the sales data previously disclosed by various car companies, as of the end of the third quarter, the completion rate of annual new energy vehicle sales targets of a number of car companies is worrying. On the whole, only Tesla, BYD, ideal and Geely have achieved 70% of the annual sales target for new energy vehicles, while the actual sales of Lulai and Xiaopeng have not even reached half of the original target. Therefore, after the peak season of "Golden Nine and Silver Ten", there is less and less time for car companies to achieve their annual performance targets, but sales have a direct impact on the revenue and performance growth of car companies, and make the market higher expectations of the upgrading of the price war in the car market at the end of the year. From the retail side, the quarter is the sales sprint period, in order to achieve the annual sales target, vehicle factories and dealers will introduce profit-giving policies to stimulate demand.

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