In the highest office of the Seven Corners Building, Mr. Wang flipped through the sales data of the 2023 model classification. He found that the new energy market is doing well, but in the compact car market, joint venture brands still dominate. In order to change this situation, Mr. Wang put forward a bold plan to attack the compact car market.
At the sales planning meeting on x/x/x, Mr. Wang announced an astonishing number of 79,800. He said that in order to achieve the goal of tackling the compact car market, BYD will launch a plug-in hybrid compact car priced at 79,800 yuan. The car will have 7The acceleration performance of 3 seconds and the fuel consumption of 3 cents per kilometer are also superior to the joint venture brands of the same level in terms of configuration.
This move immediately attracted widespread attention and discussion in the market. Some people believe that this is BYD's practice of reducing profits in order to seize market share, which may destroy the laws of the market; Some people believe that BYD's move is to reduce costs and improve competitiveness, so as to achieve sustainable development.
In fact, BYD has repeatedly demonstrated its self-research strength in the development of the automotive industry. As early as 2008, BYD began to independently develop ABS system and ESP system, successfully replacing the products that originally relied on foreign companies such as Bosch. In addition, BYD has also expanded its investment in the insurance and handcar markets, wholly acquired Yi'an Insurance, and subsidized the domestic market through overseas sales to improve its profitability.
So, in the face of competitors like BYD, how should joint venture brands respond? Joint venture brands need to increase R&D investment to enhance product competitiveness; By partnering with local companies, technology and resources can be shared; Finally, you can also pay attention to policy developments and grasp market opportunities.
BYD's move to attack the compact car market has undoubtedly brought huge challenges and opportunities to the entire industry. We look forward to seeing more innovation and development in the days ahead. At the same time, it is also hoped that consumers can get more benefits and convenience in this competition.
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