domestic brands intensify competition in the compact suv market, byd launches two new models
2024-09-25
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as the penetration rate of new energy vehicles gradually increases, competition in the compact suv market is becoming increasingly fierce, especially among domestic brands.
according to the data from the china passenger car association, in august this year, the market share of compact suvs reached 20.6%, ranking first among all vehicle categories. in august, among the top 10 compact suvs in terms of sales, there were 7 domestic brands, and only 3 toyota joint venture models were left among joint venture brands, while other joint venture models had fallen out of the top 10. in that month, the top 3 compact suvs in terms of sales were all byd models, with the first place being the song plus new energy, with sales of nearly 40,000 units; the yuan plus and song pro new energy ranked second and third.
byd recently launched two more compact suvs - the second-generation song pro dm-i and the sea lion 05dm-i. the starting prices of both models are in the 110,000 yuan range, and both are equipped with the fifth-generation dm technology. they emphasize product highlights such as a fuel consumption of 3.79 liters per 100 kilometers and a comprehensive range of 1,400 kilometers with full fuel and full charge. the purpose is to further consolidate byd's market share in this segment.
byd is facing many strong competitors in the compact suv market after launching two suvs at once. for a long time, compact suvs with a price range of 100,000 to 150,000 yuan have become one of the important sales sources for automakers. according to august data, the sales of more than ten compact suvs, including geely xingyue l, geely galaxy e5, changan cs75 plus, and aion aion y, have exceeded 10,000 units. the difference between geely xingyue l and song pro new energy is about 2,200 units.
it is worth mentioning that in july, aion y ranked fourth in sales in this market segment, while in august, geely xingyue l rose to fourth place. except for the top three, the sales rankings of the 4th to 10th places change every month, the rankings are not stable, and the difference in sales between models is not large, and the competition between domestic brands is becoming more and more fierce.
in addition to the existing compact suv models, a number of new compact suv models including saic-gm-wuling's baojun brand yunhai and jetour shanhai l6 have been launched in recent days, competing directly with byd's top three compact suvs for market share in the compact suv market.
according to the plan, byd's annual sales target for 2024 is 3.6 million vehicles. from january to august this year, byd has sold a total of 2.3284 million new vehicles, completing 64% of its annual sales target. in the remaining four months of this year, byd needs to sell about 1.29 million new vehicles, or an average of 323,000 new vehicles per month, to achieve its annual sales target. therefore, byd still needs to roll out high-volume products to ensure sales.
in august, byd's sales of new energy vehicles reached 373,000 units, of which the three compact suvs song plus new energy, yuan plus and song pro new energy accounted for about 23.09% of the total sales. driven by the two newly launched compact suvs, byd may be able to achieve its annual sales target ahead of schedule.
(this article comes from china business network)
