At the beginning of the year, the glory version of BYD Qin PLUS and the glory version of destroyer 05 were sold from 79,800. At the same time, the price entered the era of "7", and it also had a higher configuration than the fuel vehicle of the same class, which truly achieved "both want and want". This is tantamount to dropping a bombshell on the automobile market in China, and it also shows that in 2024, BYD will no longer "show mercy" on fuel vehicles, and in order to speed up the conversion from oil to electricity, it will launch a "general attack" on joint-venture fuel vehicles at the beginning of the year.
Why BYD?
In the impression of many people, new energy vehicles are more expensive than fuel vehicles of the same level, and at most they are oil level rights. But this time, BYD’s two glory models have achieved "electricity is lower than oil" and the price reduction is not reduced. Why can BYD do it?
The first is the core cost advantage.
In 2023, BYD sold a total of 3,024,400 vehicles, up 61.9% year-on-year, which is not only the annual sales champion of China automobile market, but also the global sales champion of new energy vehicles. The annual sales volume of more than 3 million not only set a record for China automobile, but also made BYD the first China automobile enterprise to enter the top ten in the world.
Matching the sales growth, BYD’s huge R&D investment has exceeded 100 billion, with over 90,000 R&D engineers and 11 technical research institutes. At present, BYD has accumulated a huge and systematic "technical fish pond" and applied for over 6,700 patents in 2023 alone.
On the surface, it is the price war of products, but in fact it is the system war of industries. The scale effect and the advantages of the whole industry chain give BYD the initiative in product pricing. Ultra-large-scale sales, combined with its own cost control ability and strong technical strength, make BYD have the ability and strength to show sincerity in the price of new cars, give more benefits to consumers, and let consumers really feel the dividend of BYD’s development.
Promote the popularization of new energy vehicles
As a leader of new energy vehicles, BYD has been practicing its brand concept with practical actions.
The launch of 79,800 glory models this time is a direct embodiment of this concept. As the first car company to achieve lower electricity than oil, plug-in hybrid is lower than the price of fuel vehicles. This has also become a watershed and milestone in the development of automobile categories, further improving the penetration rate of new energy vehicles and consolidating and strengthening the leading position of China brand in the A-class sedan market. The lower use cost, plus the exemption from licensing and reduction of purchase tax, makes fuel vehicles no longer have a price advantage in front of them. BYD’s intention is obvious, so that more and more consumers can afford new energy vehicles and are willing to buy new energy vehicles, thus promoting the popularization of new energy vehicles in the China automobile market.
In the new energy vehicle market, BYD’s influence and appeal are beyond doubt. The launch of the Glory version of the vehicle further demonstrates its strong technical strength and cost control ability. In addition to allowing consumers to buy better new energy vehicles at more realistic prices, it will also promote the innovation and progress of new energy vehicle technology in China and promote the product upgrading of the whole industry.