On December 1st, BYD released wholesale sales data, showing that new energy vehicle sales in November were 301900, up 21.0% from a year earlier, of which 301400 were new energy passenger vehicles, up 31.1% from a year earlier.
According to the specific power category, there were 170200 pure electric models, an increase of 49.4% over the same period last year, and 131200 plug-in hybrid models, an increase of 13.1% over the same period last year. At present, BYD has launched four major brands, including BYD, Teng Teng, equation Leopard and look up, of which the largest source of sales is BYD. Chao.com + Ocean net sold 288500 vehicles, up 27.4% from the same period last year, Teng Teng is 11800, looking up is 408, and equation Leopard is 626. In addition, BYD exported 30600 passenger cars in November, an increase of 148.7% over the same period last year.
By the end of November, BYD had sold 2.6834 million cars, an increase of 64.29% over the same period last year. According to the annual sales target of 3 million vehicles, BYD needs to sell 316600 vehicles in December, which is a record that BYD has never had. It is still more or less stressful for BYD, but it is not a big problem.
In order to meet its sales target as much as possible, BYD has started a price reduction in the past two months.
BYD Motor launched the "millions of Ocean Thanksgiving courtesy" campaign from November 1 to November 30 to purchase destroyer 05, frigate 05 champion version, dolphin, seal champion version and Song PLUS champion version to enjoy substantial discounts, of which frigate 07 can enjoy 2000 yuan to 20000 yuan, equivalent to a discount of 18000 yuan, which is the biggest discount among the five models. Then, in late November, BYD terminal stores increased their discounts, and several models such as Qin, Han, Tang, Song and other models of Dynasty Network launched cash discounts ranging from 3000 yuan to 10000 yuan. As BYD's main sales model, Qin PLUS offered a time-limited discount of 10, 000 yuan, starting at 89800 yuan.
On December 1, BYD announced that Daochao launched a limited-time discount for oil to electricity, that is, fuel transfer fund activities, which involved some models of Qin, Han, Tang, Song and Yuan dynasties, of which Han EV champion version could enjoy up to 20,000 yuan fuel transfer fund. BYD said that this move is aimed at comprehensively popularizing DM-i hybrid technology and comprehensively accelerating the process of "oil-to-electricity".
Industry insiders believe that BYD launched the preferential car purchase policy in the past two months, largely to drive sales growth. By the end of November, BYD had sold 2.6834 million cars, an increase of 64.29% over the same period last year. According to the annual sales target of 3 million vehicles, BYD needs to sell 316600 vehicles in December, which is a record that BYD has never had before, and there is still some pressure on BYD.
Whether the price cut will bring the expected market performance to BYD is also unknown, as BYD is facing a siege of competitors. According to incomplete statistics, only the first day of December, in addition to BYD, including Changan Automobile, Zero running Automobile, Jiyue Automobile and other at least seven car companies announced price reduction sales. Among them, the price of Ji Yue 01 is reduced by 30, 000 yuan, and the price range after the price reduction is 219900-309900 yuan. Regular users will give cash compensation for the price difference of 30, 000 yuan.
On December 1, BYD shares fell below 200 yuan to close at 197.05 yuan per share, with a total market capitalization of 573.6 billion yuan, the lowest since June 9, 2021. The fall in BYD's share price and the price cuts and promotions of many of its models reflect the challenges and pressures it faces. In the highly competitive automobile market, especially in the field of new energy vehicles, BYD needs to constantly strengthen its innovation and competitiveness in order to adapt to market changes and meet the needs of consumers. At the same time, enterprises should also use price reduction promotion strategy cautiously to avoid over-reliance on low-price sales, but should pay attention to the shaping of product quality and brand image. Only through continuous innovation and the promotion of comprehensive competitiveness, enterprises can achieve sustainable development in the field of new energy vehicles.
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