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Independent brand collective price reduction, the joint venture car completely panicked!

2024-04-24 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

On Feb. 19, BYD announced the official launch of the honorable versions of Qin PLUS and Destroyer 05, with a starting price reduction of 20, 000 yuan compared with the previous version. Among them, Qin PLUS Honor Edition launched a total of 10 configurations, the price range is 7.98-139800 yuan. Destroyer 05 Glory Edition launched a total of 6 configurations, the price range is 7.98-128800 yuan. BYD says the Honor version is cheaper than fuel cars.

In the same period last year, BYD launched the champion version of Qin PLUS DM-i, which hit the price to 99800 yuan, which is regarded as the key to subverting the fuel car market. today, a year later, BYD changes and updates Qin PLUS, further expanding the trend of "the same price of gas and electricity" as "electricity is lower than fuel" and further compressing the living space of low-cost joint venture fuel vehicles.

The 79800 yuan honor edition of Qin PLUS has attracted a lot of attention. can you buy it? Although the price has been reduced by 20, 000 yuan, the configuration is not discounted. Keyless entry, automatic air conditioning, tire pressure monitoring, 10.1 inch Internet control screen and so on are all more pragmatic, which is absolutely more than enough as an online ride-hailing, but as a household, consider the DM-i 55KM super model with a guide price of 95800. Four-window one-button lift, skylight, electric adjustment of the main driving seat, dual-temperature zone automatic air conditioning can greatly improve the happiness of the car, and the price is also cheaper than the 99800 of the most entry-level of the old model.

What is the impact of the 79800 yuan Qin PLUS Glory Edition on joint venture fuel vehicles? In 2023, Qin PLUS New Energy (including DM-i and EV) sold a total of 434000 vehicles, while Xuanyi and Lang Yi sold 376000 and 346000 respectively. These two models still rank second and third in sales, which is also the result of continued concessions, while Qin PLUS, which is directly aggressive at the beginning of the year, indicates that 2024 will be a more difficult year for joint venture compact fuel vehicles. From the configuration point of view, Qin LUS is undoubtedly the lead, the daily replacement of Qin PLUS is indeed a more cost-effective choice.

According to the "Tramway report" statistics, after BYD's price reduction, including Wuling New Energy, Changan Qiyuan, Naha Automobile and Geely Motor all announced price reduction sales.

Wuling Xingguang went on the market in December 2023, the new car launched CLTC comprehensive range 150km, 70km two versions, the price is 105800 yuan, 88800 yuan respectively, after BYD reduced the price of Wuling Xingguang 150km version by 6000 yuan, making the price of the whole system less than 100000 yuan.

The price of Changan Qiyuan A05 has been lowered to 78900 yuan, and the Q05 price has been reduced to 73900 yuan. "electricity is lower than oil! low! low!" Naxi Automobile is the first new power company to announce that it will follow the price reduction. The new entry version of Naxi X is 400 Air, the price is 99800 yuan, the price of other models is 22000 yuan, the Naxi AYA is down 8000 yuan, the starting price is 65800 yuan, and the price of Naxi S is 5000 yuan.

On February 20th, Geely Dihao L HiP Longteng launched 100km super model and 100km excellent model, with official guiding prices of 89800 yuan and 99800 yuan respectively. Combined with previous prices, the price of entry-level models has been reduced by 20, 000 yuan, and that of high-end models by 23000 yuan.

A number of new energy car companies have directly reduced their sales, and fuel car brands have also announced price cuts. Beijing Hyundai announced that the Elantra model would be reduced by 24000 yuan, starting at 75800 yuan, and threw out the slogan "oil is stronger than electricity" in order to defend the advantage of fuel vehicles at this price. Elantra is a compact sedan owned by Beijing Hyundai, with sales of 109000 cars in 2023, making it the best-selling model. Competitors include Xuan Yi, Lang Yi, Carola and so on.

At the same time, the Buick brand of SAIC GM also announced that it will offer price concessions or replacement subsidies for some models for a limited time. The discount range for Buick LaCrosse, Weilang Pro and Ankewei Plus models is 35000 to 65000 yuan, and the price is down to 10 to 150000 yuan.

Cui Dongshu, secretary general of the Federation of passengers, wrote that 2024 is a key year for new energy vehicle companies to gain a firm foothold, and the competition is destined to be very fierce. With the rapid improvement of the penetration of new energy vehicles, the scale of the traditional fuel vehicle market is gradually shrinking, and the contradiction between the huge traditional production capacity and the shrinking fuel vehicle market brings a more fierce price war. The scale determines the cost and the survival state of the enterprise, and most manufacturers give priority to the share, which is bound to further aggravate the price competition.

2024-2025 will be a fierce survival knockout stage for Chinese car companies, the competition pattern is expected to further intensify, and some players will be eliminated gradually. In the future, the life of the traditional joint venture brand will be more and more difficult, the game between Chinese and foreign sides, they will not be able to reduce prices as brazenly as their own brands, but for them, if they want to retain the dignity of the market as much as possible, it may be the only way to reduce the price.

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