Recently, many netizens are speculating about the real reason for BYD's price reduction, some netizens analyze that the battery price has been reduced, some netizens analyze that it is because BYD wants to penetrate the rate, and some netizens directly believe that the new energy vehicle is not good and cannot be sold, so the price is reduced.
Let's take a look at the sales volume in January 2024 just past, in the retail sales ranking of passenger cars, the top three are all fuel vehicles, and only the four models in the top 10 are new energy vehicles: M7, Model Y, Seagull, and Song Plus DM-i. Comparing the retail sales rankings in November and December 2023, among the top 10 sales in November, only three fuel vehicles, Sylphy, Sutar, and Lavida, were on the list; Among the top 10 sales in December, there are Sylphy, Lavida, Suteng, and Magotan on the list, and the sales volume has increased significantly compared with November.
December is the end of each year, car companies will increase their efforts to complete the sales target set that year, not only the sales of fuel vehicles in the sales list have increased significantly, but also the sales of new energy vehicles have been significantly enlarged. Because the Spring Festival in 2024 is in mid-February, many consumers who buy cars and return to their hometowns will choose to buy cars in January, and some car owners choose to license their cars in December in January, so that the age of the car is smaller, so there will be a year-end Spring Festival in January 2024**. According to statistics, the sales volume of the domestic passenger car market in January this year was 20350,000 units, an increase of 57 compared to January last year4%。
In December 2023, the penetration rate of new energy vehicles in China was 402%, and by January 2024, the penetration rate of new energy has dropped to 328%。Among them, pure electric vehicles decreased by 46% month-on-month5%, and range extender and plug-in hybrid vehicles decreased by only 22% and 23%. Judging from the data and sales rankings, the sales of pure electric vehicles have declined the most, the decline of extended range and plug-in hybrid vehicles is less, and there is a trend of fuel vehicles. January is the coldest month of winter, coupled with the long-distance test of returning home, consumers still pay more attention to fuel and electricity range extensions, plug-in hybrid vehicles, and fuel vehicles without range anxiety.
Looking at BYD's models again, the Qin PLUS DM-i in the best-selling list has always been responsible for sales, and has long been in the top 10 of the total sales list, falling to 17th place in January, with sales of barely 20,318 units. Only the Seagull and Song PLUS DM-i are barely in the top 10, while the Yuan Plus, which has been selling well, has dropped directly to 25th, with sales of only 16,831 units. In February, the new model Yuan UP was released; A few days ago, the glory version of Qin Plus DM-i and Destroyer 05 was launched; On February 23, the Dolphin Glory Edition is also on the way. BYD's strategy is fast and accurate, what battery ** decline, penetration rate, etc. are all superficial, only sales are the essence, BYD wants real sales.
Although the sales pattern of the auto market in January this year is somewhat different from the general trend, the demand for the Spring Festival holiday and the severe cold weather in winter is short-lived after all, and the rhetoric that new energy vehicles will not work will be shattered. Although the sales of BYD cars have not been maintained for the time being, with a series of big moves by BYD in February, it is believed that pure fuel vehicles will be suppressed. This year, the competition in China's auto market will be fierce, from the competition of new energy vehicles to the competition between fuel vehicles, let's wait and see!