Author: Hexuan.
After more than a month of silence, the 2024 auto market ** battle will be started by BYD after the Spring Festival holiday.
This time, the BYD brand has further enhanced its competitiveness by launching a variety of Glory Edition models.
Among them, the Destroyer 05 Glory Edition from the ocean net ended with 7The starting price of 980,000 yuan directly hits the hinterland of the same level of joint venture fuel vehicles, which is worth paying attention to, and is an indispensable and important force for BYD's sales growth and market share maintenance in the A-class new energy car market, as well as the acceleration of the process of replacing joint venture fuel for new energy vehicles.
The current state of the market
There are three main features of the A-class sedan market in which the Destroyer 05 is currently located.
First, it's huge. Although the annual sales level of A-class sedans has dropped by nearly 28% in the past five years due to factors such as consumption upgrades, its volume is still comparable to the A-class SUV market, and it is currently one of the largest market segments in terms of sales.
In 2023, the overall domestic sales of A-class sedans will reach 47880,000 units, and the EV** is expected to remain at around 4.5 million units in 2024. It can be said that the A-class car market is not only the main market for China's automobile consumption, but also the "battleground" for most car companies.
Second, the penetration rate of new energy is low. Unlike the A00-class market, which has already achieved full new energy, and the A0-class sedan market, which has reached 77% of the new energy penetration rate, the new energy penetration rate of the A-class sedan market will only be 25% as of 2023.
The supply of new energy products in the market is relatively insufficient, and there are only a few plug-in hybrid models that can directly form an alternative relationship with hot-selling joint venture fuel vehicles for a long time. Although this situation will improve in the second half of 2023 with the successive efforts of several leading independent brands, BYD is the only one that can really break through the encirclement of joint venture fuel vehicles at the same level by the end of 2023.
Third, the competition is fierce. In addition to a variety of new energy models with strong competitiveness and products have been put into the market, joint venture fuel vehicles have also taken active measures to cope with competition.
On the one hand, the joint venture model still has a strong brand inertia, and this advantage will be especially obvious in the sinking market. On the other hand, when the competitiveness of the joint venture model is difficult to significantly improve in a short period of time, the joint venture model has improved the cost performance through the strategy of "price reduction and war avoidance", thereby stabilizing sales and delaying the increase in the new energy penetration rate of the A-class sedan market.
Based on the above market situation, A-class new energy cars have huge market potential to be explored, but from more and more new energy competitors and cheaper and cheaper fuel competitors, it puts forward higher requirements for car companies' ability to understand the pain points of user needs, technical strength and cost capabilities.
User needs & pain points
The reason why the A00 and A0 class car markets can quickly realize new energy is that such cars are more focused on urban transportation and the women's car market, focusing on good driving, good stopping, and good looks, while other attributes such as space, configuration, and comfort are relatively secondary.
The A-class sedan often has to bear the needs of the main car of the family, that is, the "family car" that people often say. Therefore, the interior and exterior design of the vehicle, space, mobility, and brand will all be the key focus of users.
So what kind of car do mainstream A-Class sedan users need?
The first is the design aspect. A-class sedan users cover a wider range of people, among which the first and second tier cities due to the more developed economy, higher income level, users will be younger, the typical user age is about 30 years old, so single or zero-child families are more likely, will prefer the interior and exterior design of younger and sportier models, but limited by the number of first and second tier cities and the size of young user groups, the market potential of this oriented model is relatively small. However, users in third- and fourth-tier cities are older, and the typical user age may grow to over 35 years old, and most of them are one-child families, so they need more stable family models, and the market potential is greater and easier to go.
In terms of space, the A-class family car, which is the main car for families with 0-1 children, needs to be improved by leaps and bounds compared with the A0-class car in terms of space. Unlike most of the current A0-class sedans sacrificing the trunk in exchange for a larger rear space, the A-class sedan must not only meet the basic seating space of 2-4 passengers in the front and rear rows, but also have the trunk loading needs that can cope with supermarket purchases and family long-distance travel.
At the same time, compared with the A00 and A0 classes, there is a greater possibility to deal with medium and long-distance travel scenarios, such as self-driving tours, returning home for the Chinese New Year, etc., A-class sedans also have higher requirements for comprehensive range level and convenience of energy replenishment, so plug-in hybrid models that can be fueled and electric will be more competitive than pure electric models, making it easier to convert fuel vehicle users.
In addition, today's user groups have higher requirements for in-car entertainment experience and equipment than in the past. Although it is difficult to achieve everything due to the cost and price constraints of the A-class sedan, it will be more and more difficult for the over-reduced "beggar" model to impress the mainstream user group in the future.
As a factor other than the product itself, brand image can also significantly influence the decision-making of conservative mainstream users, especially those in lower-tier markets, when buying a car, and brands with large holdings and good reputation are more likely to win their favor.
After sorting out the needs of users, it can be found that the lack of demand matching for A-grade fuel products supplied by joint venture brands has gradually emerged.
At present, several mainstream joint venture A-class fuel cars with high sales volume generally do not exceed 4700mm, wheelbase does not exceed 2700mm, and the space is basically passing, while the pure fuel drive form matches the engine with a smaller displacement, so that its fuel consumption is mostly between 5-6L 100km, and the power is relatively weak. Equipped with plastic steering wheels, manually adjusted fabric seats, etc., are commonplace, and some models cannot achieve the standard reversing image and rear air conditioning outlets, the user experience is behind the times, and the product power is surpassed by the newly launched new energy models.
However, at present, most of the A-class new energy cars have failed to convert the advantages of the product into sales. The reason is still that the competitiveness of joint venture fuel vehicles after substantial discounts has offset the product competitiveness of these new energy vehicles. For many ordinary users who are good at budgeting, the extra money spent on purchasing new energy vehicles is enough for them to refuel for two or three years, and naturally they will lack the motivation to choose new energy vehicles.
"Electricity is stronger than oil" + "Electricity is lower than oil".
BYD's strategy of coping with the competition in the A-class sedan market and accelerating the transformation of oil and electricity is very straightforward and clear in the destroyer 05 glory version, that is: "electricity is stronger than oil, electricity is lower than oil", which constitutes a double advantage for the joint venture A-class fuel car in terms of products and **.
"Electricity is stronger than oil" is the basic requirement for new energy vehicles in all market segments today.
In terms of exterior and interior design, the destroyer 05, which adopts the marine aesthetic design concept, has a more refined sense of refinement and technology than the joint venture fuel models of the same level, and at the same time, the traditional sedan shape without excessive pursuit of low lying and sporty takes into account a certain sense of calmness, which is in line with the aesthetics of its target users.
The Destroyer 05 is positioned as A+, with a length of 4780mm and a wheelbase of 2718mm, which comprehensively surpasses the mainstream joint venture competitors, bringing more interior space and ensuring the basic spaciousness and comfort of rear passengers.
In terms of configuration, the price is only 7The 980,000 yuan 55km luxury model is equipped with 128-inch adaptive rotating suspension pad, DiLink intelligent network system, full-scene digital key, exterior mirror electric adjustment + heating, automatic air conditioning, on-board karaoke, reversing image and other 17 configurations, the configuration of the entry-level model is equivalent to the middle and high-end models of joint venture fuel competitors, and the user experience is better.
With the blessing of the DM-i super hybrid system, the destroyer 05 has the characteristics of oil and electricity, no endurance anxiety, and its maximum electric range of 120km can meet the commuting needs of many third- and fourth-tier cities for a week, with the fastest 7The 000 acceleration performance of the 3s is comparable to that of many equipped with 2The fuel model with 0T engine improves the experience of typical car use scenarios such as starting at red lights and overtaking at high speed, and gets rid of the dilemma of traditional A-class fuel vehicles "the accelerator pedal kicks into the fuel tank and cannot raise the speed".
Compared with the above-mentioned "electricity is stronger than oil", the "electricity is lower than oil" of the Destroyer 05 Glory Edition on this basis is even more valuable.
First of all, on the **, the 55km luxury type 7The ** of 980,000 yuan has basically offset the ** advantage that the joint venture fuel vehicle has just established through a sharp price reduction, and 9The 980,000 yuan 120km luxury model is the first time that the plug-in hybrid model with a pure electric range of more than 100km is pressed into less than 100,000 yuan, which further enhances the attractiveness of users who have the conditions to install home charging piles.
It is understood that the various models of the Destroyer 05 Glory Edition will be scheduled normally, of which the starting price is only 7980,000 55km luxury and 9.The 980,000 120km luxury model is an existing car**, which means that the "798" is not a gimmick, but a user can actually buy**.
Secondly, in terms of the cost of using the car, the whole series of destroyer 05 can be as low as 3The fuel consumption of 8L 100km is more than 30% lower than that of mainstream joint venture competitors. Combine 798-12.With a price range of 880,000 yuan and better charging conditions for some users, the car can achieve the "lower electricity than oil" of the cost of the whole life cycle of the car.
Of course, in addition, the number of shares in the A-class market and user reputation have endowed BYD with strong brand potential, which will also help the hot sales of the destroyer 05 Glory Edition.
Summary
From the product power and pricing of the Glory Edition model released this time, it can be seen that BYD is determined to challenge, subvert and replace fuel vehicles, and the confidence to go down to this level will be the industry-leading cost control ability brought by BYD's unparalleled technical advantages and scale advantages.
7.The destroyer 05 glory version model sold from 980,000 yuan is just the beginning of the market competition in 2024, BYD, as a car company that occupies a dominant position in market share, its actions will trigger a "butterfly effect", set off a new round of ** war, and promote the process of replacing fuel vehicles with new energy vehicles in the market segment and even the whole industry to accelerate.
It is expected that the new energy penetration rate of the A-class sedan market will reach 36% in 2024, and the sales volume of new energy will reach 1.6 million units, an increase of 6 percentage points and nearly 400,000 units respectively from 2023. With the launch and delivery of the Honor Edition model, the Destroyer 05 is expected to usher in a new round of sales growth in 2024 and consolidate its position as a benchmark product in the A-class new energy sedan market.
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