BYD's "price reduction three times", the Dolphin Glory Edition was listed at 99,800 yuan, and the 100,000-level sedan market was rekindled

Source of this article: Times Finance Author: He Qing

At the beginning of the Year of the Dragon, BYD's three new cars have been continuously reduced in price on the market, on February 19, Qin PLUS Glory Edition, Destroyer 05 Glory Edition both lowered the price of the market, the starting price is only 79,800 yuan, four days later, BYD offered a guide price of 99,800 yuan from the Dolphin Glory Edition, compared with the previous Dolphin 116,800 yuan starting price, the price dropped by 17,000 yuan.

The fast-paced offensive of three consecutive price cuts at the beginning of the year quickly attracted a batch of orders. According to BYD's official data released on February 26, orders for the Qin PLUS Honor Edition were 23,600 units in the first week of listing. Regarding the order volume of BYD Destroyer 05 Glory Edition and Dolphin Glory Edition, Times Finance sent an interview letter to BYD, but did not receive a reply as of press time.

With the price adjustment of three 100,000-level new energy cars, BYD opened the curtain of the New Year's "oil and electricity war". Li Yunfei, general manager of BYD Group's brand and public relations department, posted on his social platform: "Thanks to BYD's large-scale effect and excellent whole industry chain, the price of our plug-in hybrid can be lower than that of fuel vehicles of the same level, not only lower than that of fuel vehicles, but also can be fueled and electric, with ultra-low fuel consumption." ”

Yang Jing, director of Fitch Ratings' Asia-Pacific Corporate Ratings, believes that the relatively profitable companies in the new energy vehicle industry are mainly BYD, Tesla and the new forces. The main purpose of such leading companies or market segment leaders to reduce prices includes expanding the scale to amortize costs, accelerating the substitution of competing products for fuel vehicles, and consolidating or expanding their market share in the new energy vehicle market. Profit-making leaders cut prices, pass on the pressure of price reductions to competitors who have not yet made a profit, or accelerate the exit of some weak brands, which will help them maintain their market position.

The starting price of the dolphin has dropped to less than 100,000 yuan

The official guide price of the BYD Dolphin Glory Edition listed this time is 99,800 yuan to 129,800 yuan. It is reported that the Dolphin Glory Edition has increased and reduced the price, achieving 1 performance improvement, 3 design advancements, 6 configuration upgrades, and a new 302KM vitality version.

The Dolphin Glory Edition has upgraded the rear four-link independent suspension. In terms of convenient configuration, the front charging ports of the Dolphin Glory Edition have been upgraded to a Type A+C combination, the Type-C interface supports 60W fast charging, and the wireless charging power of the front mobile phones of the Fashion Edition and the Knight version has been upgraded to 50W, with an active cooling fan.

In addition, the steering wheel of the Dolphin Glory Edition has been upgraded to 4-way adjustable, and the front seats of the Fashion Edition and above have also added a seat ventilation function that is rare in the same class.

In recent years, with the increase in the penetration rate of new energy vehicles, the A0-class car market has also rapidly switched from fuel vehicles to new energy. The proportion of NEVs in the A0 segment increased from 17.4% in 2021 to 70.9% in 2023.

The BYD Dolphin has become a leader in the A0 market. BYD said that in 2023, the Dolphin will sell 367419 units, winning the annual sales champion of A0-class models, breaking historical records and becoming the highest-selling A0-class model in the history of Chinese automobiles.

Expanding the scope to the 100,000-level new energy car market, BYD also has a number of models with outstanding performance. According to the data of Chedi, in the second half of last year, the monthly sales of the three 100,000-level models of BYD Seagull, Dolphin and Qin PLUS were stable at more than 20,000 units.

In 2024, BYD will take the lead in starting price adjustments for three 100,000-yuan models, Qin PLUS, Destroyer 05, and Dolphin, or it is intended to accelerate the replacement of fuel vehicles.

Li Yunfei not only shouted the slogan "electricity is lower than oil" on his personal social platform, but also said: Who will buy a fuel car in the future? Buying a fuel car now is like buying a mobile phone and a BP machine; if you have a smart touch screen mobile phone, you will also buy a button function phone. BYD plug-in duo (Qin PLUS Glory Edition, Destroyer 05 Glory Edition) starts at 79,800 yuan, and this "double nuclear bomb" thrown into the fuel vehicle market will completely open the decisive battle with fuel vehicles.

100,000-class sedan scuffle

In the face of BYD's menacing price offensive, many car companies quickly followed up with price adjustments.

According to incomplete statistics from Times Finance, Wuling Starlight, Nezha X, Changan Qiyuan A05, etc. have also successively launched price reduction policies, or new entry-level models with lower prices. The above models are also in the 100,000-level sedan track.

The price of the 150km advanced version of the Wuling Starlight plug-in hybrid model has been adjusted from 105,800 yuan to 99,800 yuan, and the price has been reduced to less than 100,000 yuan. Nezha X's new model, the Nezha X 400 Air, was officially launched, with an official guide price of 99,800 yuan, while other versions of the Nezha X dropped by 22,000 yuan, with an adjusted price of 104,800-124,800 yuan. The Changan Qiyuan A05 model is available for sale at 78,900 yuan for a limited time.

For a long time, the 100,000-level automobile market has been fiercely competitive. China Electric Vehicle 100 believes that from the perspective of market segments, the most high-volume car is a car of 100,000-150,000 yuan, which is the focus of new energy vehicles in 2024. In the past few years, the market of 100,000-150,000 yuan has been dominated by gasoline vehicles, but the market in this price range is the main market for automobiles, and in the past two years, electrification has begun to enter this field. In the next two years, the market of 100,000-150,000 is the focus of the possible breakthrough of electric vehicles.

Yang Jing said that in the Chinese market, the replacement of fuel vehicles by new energy vehicles has become the general trend. With the rapid development of China's plug-in hybrid and extended-range hybrid technologies in the past two years, the product strength has improved, and the market acceptance has increased, and the policy has maintained a supportive attitude towards such technical routes, China's auto market will accelerate electrification driven by these two intermediate technology routes.

Everbright Securities pointed out that BYD took the lead in reducing the price of the 10-150,000 yuan market, while reducing the impact on old car owners, improving the competitiveness of the model in the low price band and ensuring a reasonable level of inventory.

The Federal Reserve Securities said that it is expected that driven by the price reduction policies of BYD, Wuling, Nezha and Changan, other domestic car companies may follow suit. At the beginning of 2024, the automobile market ushered in a good start, and under the background of the significant reduction in the price of power batteries, many automakers have started a new round of price reductions in the Year of the Dragon, and market competition has intensified.