Smart and Sustainable Electric Mobility
BYD announced today that the two models received 8,196 orders on the day they were launched on March 16. BYDDY.US | BYD HK
(Image credit: BYD)
As the price war in China's auto industry continues, BYD (OTCMKTS: BYDDY) has launched revamped versions of its flagship sedan and flagship SUV at lower prices than previously available models.
BYD launched the 2023 Han EV and 2023 Tang DM-i at its March 16 online event, both starting at RMB 209,800 ($30,440).
Both models appear to have received good initial acceptance, with BYD announcing today that the two models received a total of 8,196 orders on March 16.
The dimensions of the 2023 Han EV remain unchanged from the previously available model, measuring 4,975 mm in length, 1,910 mm in width and 1,495 mm in height, with a wheelbase of 2,920 mm.
The2023 Han EV is currently available in five versions with starting prices of RMB 209,800, 229,800, 259,800, 279,800 and 299,800 respectively, with the most expensive being the four-wheel drive version and the rest being front-wheel drive models.
As a comparison, the previous BYD Han had a starting price range of RMB 219,800-298,800.
The new Han has four range options, with CLTC ranges of 506 km, 605 km, 715 km and 610 km, of which the 715 km version is available in two models.
The least expensive version is equipped with a motor with a maximum power of 150 kW and a CLTC range of 506 km. The model, like all other single-motor Han models, can accelerate from 0 to 100 km/h in 7.9 seconds.
The highest-priced version has a front motor with 180 kW and 350 Nm of peak torque and a rear motor with 200 kW and 350 Nm of peak torque, which accelerates from 0 to 100 km/h in 3.9 seconds.
The BYD Han 2023 all supports fast charging, taking less than 30 minutes to charge from 30 percent to 80 percent.
The length, width and height of the 2023 BYD Tang DM-i are 4,870 mm, 1,950 mm and 1,725 mm respectively, with a wheelbase of 2,820 mm, also unchanged.
The model is available in three versions, with starting prices of RMB 209,800, 219,800 and 233,800 respectively. For comparison, the previously available Tang DM-i starts at RMB 209,800, RMB 226,800 and RMB 281,800 for its three variants.
The model continues to be equipped with a plug-in hybrid system consisting of a 1.5T engine and electric motor, with the engine producing 102 kW of maximum power and 231 Nm of peak torque, and the motor producing 160 kW of maximum power and 325 Nm of maximum torque. The model can accelerate from 0 to 50 km/h in 4.3 seconds.
All three models of the BYD Tang DM-i are powered by a 21.5 kWh blade battery with a battery-powered CLTC range of 112 km.
The BYD Han family, including the Han EV and the hybrid Han DM series, sold 274,015 units in 2022, contributing 14.7 percent of the automaker's 1,863,494 full-year 2022 new energy vehicle (NEV) sales, according to data monitored by CnEVPost.
BYD Tang family models, including the Tang EV as well as the Tang DM series, sold 150,832 units in 2022, contributing 8 percent of BYD's NEV sales.
Supported by a downward shift in price range and configuration upgrades, the 2023 Han EV and Tang DM-i are expected to boost BYD's demand, thus driving sales to accelerate upward, Huaxi Securities analyst Cui Yan's team said in a research note today.
($1 = RMB 6.8925)
BYD Feb sales breakdown: Song 52,400 units, Yuan 33,612 units
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The offer has a deadline of April 30, and SAIC-Volkswagen plans to offer up to RMB 3.7 billion in subsidies for car purchases.
(A screenshot from SAIC-Volkswagen's website shows the automaker's marketing of discounts.)
A Volkswagen joint venture in China has started offering official discounts as the price war in the Chinese auto industry continues.
SAIC-Volkswagen is offering limited-time discounts of up to RMB 50,000 yuan ($7,250) on its entire model lineup, the Volkswagen-SAC joint venture announced yesterday.
The offer has a deadline of April 30, and SAIC-Volkswagen plans to provide up to RMB 3.7 billion in subsidies for car purchases, according to a poster on its website.
The campaign involves 20 SAIC-Volkswagen models, the vast majority of which are conventional internal combustion engine vehicles, that can enjoy discounts ranging from RMB 15,000 to RMB 50,000.
The Volkswagen Phideon, with an official guide price of RMB 343,000 to RMB 449,000, received an RMB 50,000 discount, while most other models received discounts of RMB 25,000 to RMB 30,000.
SAIC-Volkswagen is offering discounts of RMB 20,000 for the ID.3 pure electric vehicle and RMB 30,000 for both the ID.4 X and ID.6 X.
In addition to the cash discounts, SAIC-Volkswagen is also offering trade-in benefits of up to RMB 12,000, as well as a zero-interest entitlement for 2-to-5-year loans.
One of the reasons SAIC-Volkswagen chose to cut prices is that the company is responding positively to China's policies as well as the consumer environment, sources at the automaker were quoted as saying in a report by Beijing News today.
On the other hand, SAIC-Volkswagen was able to get closer to consumers after the marketing changes and respond more quickly to consumer feedback, the source said.
Last week, both SAIC-Volkswagen and FAW-Volkswagen, another Volkswagen joint venture in China, began offering discounts of up to 40,000 yuan on ID. family models as the price war in China's auto industry intensified.
Volkswagen is one of the top car companies in China in terms of vehicle sales. SAIC-Volkswagen's retail sales in February were 74,013 units, down 7.7 percent from a year earlier, with a 5.3 percent share of the Chinese auto market, according to data released earlier this month by the China Passenger Car Association (CPCA).
FAW-Volkswagen sold 110,511 units in February, up 5.3 percent year-on-year, with an 8 percent share in China.
($1 = RMB 6.8925)
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