Nowadays, in the domestic auto market, it can be said that it is difficult to survive without price reduction, which also leads to more fierce competition in this field. It is worth noting that only 4 months have passed in 2024, and this war seems to be more "intense", after all, just some time ago, the Ministry of Commerce, the Ministry of Finance and other 7 departments jointly issued the "Implementation Rules for Car Trade-in Subsidy".
The release of this policy will undoubtedly further boost the sales of the entire auto market. Because it is for individual consumers who scrap fuel passenger cars with emission standards of China III and below and new energy passenger vehicles registered before April 30, 2018, and purchase new passenger cars that meet the energy-saving requirements, they can enjoy a subsidy of up to 100 million. In this context, many car companies are also following up on relevant policies, and BYD is one of them.
During the "May Day" holiday, BYD released a big move to launch preferential car purchase policies for various models of Dynasty Network and Ocean Network. Specifically, BYD officially launched a replacement policy, launching a replacement subsidy of up to 10,000 yuan for marine network models, and the policy can also be superimposed with a national trade-in subsidy of 10,000 yuan. At the same time, a preferential car purchase policy has been launched for each model of its dynasty network, with a maximum subsidy of 8,000 yuan, which can be superimposed with a national subsidy of 10,000 yuan. In addition, the corresponding financial policies have also been launched at the same time, such as three financial schemes: 0 down payment, 0 interest and 0 monthly payment.
That is to say, if it is in line with the "trade-in" consumers, then if you buy BYD models, you can have a discount of up to 20,000 yuan, which is still very tempting. Because everyone also knows that BYD's Ocean Net and Dynasty Net models will sell more cost-effectively than models of the same level, and most of these models are popular cars, so after the price reduction, it will definitely attract more consumers to buy.
And it is worth noting that BYD, as the initiator of the "price war", as early as the beginning of 2024, has taken the lead in launching a number of glory version models, which can be said to have once again lowered the threshold for everyone to buy BYD, for example, Qin PLUS glory version, the entry price is only 79,800 yuan, so that electricity is lower than oil, and this disguised price reduction measure also allows BYD to continue to "rampant" in the new energy vehicle market, and the sales performance is naturally needless to say.
Of course, from the product level, BYD's models do have their own uniqueness. For example, Qin PLUS DM-i Glory Edition has a stronger competitive advantage compared to the "Three Mothers on the Road" in terms of price and product power. For example, the price threshold of Qin PLUS DM-i Glory Edition will be lower, although Lavida Sylphy Corolla currently has different degrees of discounts in the market, but the configuration is not as good as Qin PLUS Glory Edition, the latter's entry version can have reversing image, full LCD instrument, central control screen, leather steering wheel, etc. In addition, the Honor version is a new energy vehicle, free of purchase tax and without range anxiety, which is as convenient as a fuel vehicle, but with the comfort of an electric car.
It can be said that BYD's disguised price reduction is still very powerful, after all, this is another lowering the threshold for everyone to buy a car. According to the official plan, BYD's goal in 2024 is to increase by more than 20% year-on-year, as a reference, BYD's annual sales last year were 3.02 million units, so it is not difficult to calculate that BYD's annual sales target this year will be higher than 3.624 million units, which may also be an important reason why it is frequently improving cost performance. However, it is foreseeable that the price reduction will bring more pressure to fuel vehicles, especially the joint venture car companies that are now dominated by oil vehicles, and the market competition will be further intensified.
Write at the end
In the author's opinion, the most hurt is the joint venture brand, after all, there is no sales without price reduction, and there is no profit if the price is reduced, so it can only end up in a dilemma.
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