Category: China

Denza launches N7 SUV to take on Tesla Model Y as brand gains momentum

Denza has delivered more than 10,000 vehicles for four consecutive months, and with the N7 SUV targeting a larger market, it is expected to gain further momentum.

's (OTCMKTS: BYDDY) joint venture with Mercedes-Benz, Denza, which was unknown in China until a few years ago, gained momentum as BYD took a controlling stake in the company last year. Now, Denza is looking to build further on it.

Denza officially launched the Denza N7 at an event in Beijing on Monday, and the electric SUV targets the market where the Model Y sits with a starting price of RMB 301,800 ($41,680).

The Denza N7 is a 5-seat mid-size SUV with a length, width and height of 4,860 mm, 1,935 mm and 1,602 mm respectively, and a wheelbase of 2,940 mm.

For comparison, the Tesla Model Y is slightly smaller, measuring 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.

The Model Y is currently offered in three versions in China with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively. This Tesla model was the best-selling SUV in China from January to May.

Denza was established in 2010 as a joint venture between BYD and Daimler, with each holding a 50 percent stake at the time. In February 2022, the Daimler brand was rebranded as Mercedes-Benz. BYD increased its stake in Denza to 90 percent last year.

In August 2022, Denza launched the D9 MPV, the brand's first model after the reorganization. The Denza N7 is the second model after Denza's shareholding change and its first SUV.

Before the D9 was launched, Denza had little presence in China. With the D9 providing a new option for the MPV market, Denza has become one of the top new car-making brands in China in terms of deliveries.

In June, the Denza delivered 11,058 vehicles, marking the fourth consecutive month above the 10,000-unit mark, according to data released by BYD yesterday.

It is worth noting that these sales were contributed by the D9, while MPVs traditionally have a small total addressable market in China, only about 10 percent of the market for sedan or SUV models.

In May, retail sales of sedans in China were 851,469 units, SUVs were 795,611 units, and MPVs were only 94,983 units, according to the China Passenger Car Association (CPCA).

With the launch of the N7, Denza enters a market with significantly more space and is expected to see a further increase in sales.

The Denza N7 has received more than 20,000 pre-orders since it began accepting customer reservations on April 18, said Zhao Changjiang, general manager of Denza's sales division, at the launch event.

The Denza website currently shows four versions of the N7, with starting prices of RMB 319,800, RMB 339,800, RMB 349,800 and RMB 379,800 respectively.

All four versions are equipped with DiSus-A, an intelligent air body control system, which was announced by BYD on April 10 and is similar to the air suspension currently used in many high-end vehicles.

Customers who do not need the system can see the prices be reduced by RMB 18,000, resulting in two Air versions priced at RMB 301,800 and RMB 321,800, respectively.

The Denza N7 comes standard with BYD's signature blade battery based on lithium iron phosphate chemistry, all with a capacity of 91.3 kWh.

The two least expensive of these are the rear-wheel drive models with 230 kW of peak motor power and 360 Nm of peak torque, which can sprint from 0 to 100 km/h in 6.8 seconds. They both have a CLTC range of 702 km.

The other four higher-priced versions are four-wheel-drive models with 390 kW peak battery power and 670 Nm peak torque that can sprint from 0 to 100 km/h in 3.9 seconds. They have a CLTC range of 630 km.

Like the D9, the Denza N7 supports simultaneous charging with two charging guns, up to 150 kW when using one and 230 kW when using two.

In contrast to BYD's approach, Denza began the presentation by highlighting the N7's assisted driving capabilities, saying that the model is equipped with BYD's "Eyes of the God" driver-assisted driving system for the first time.

The Denza N7's assisted driving system includes two options, a standard version and an advanced version, the latter of which will use Nvidia's Orin-X chip with 254 TOPS of computing power.

The Denza N7 with the advanced version of the assisted driving solution will receive highway pilot assisted driving capability by the end of this year, while that capability in urban areas will become available in the first quarter of next year.

Denza did not mention information about the chip supplier for the standard version of the system, which is likely to be a lower-cost solution from a local manufacturer.

Denza N7 will be available for test drives on July 4, with deliveries starting in mid-July, Zhao said at the model's launch event.

($1 = RMB 7.2410)

Denza shows interior details of new SUV N8

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Deutsche Bank on China EV sales: Jun gathering momentum

After the price cut and a series of new models, sales could reach 20,000 units per month in the third quarter, according to Edison Yu's team.

China's major electric vehicle (EV) makers recently announced their June deliveries, and Deutsche Bank analyst Edison Yu's team provided their take, as usual.

"June EV sales surprised to the upside as demand picked up, likely signaling some normalization in consumer behavior and release of pent-up demand from buyers taking advantage of low prices," the team said in a research note sent to investors today.

(NASDAQ: LI) again led the way among the upstarts, setting a new monthly record, while Nio (NYSE: NIO) saw a large improvement in monthly sales, driven by the speedy ramp-up of the ES6, the team noted.

Looking ahead, pressure will be on Nio and (NYSE: XPEV) to deliver big growth in the second half with new vehicle launches, while Li Auto works to increase its already strong order book, Yu's team said.

As a backdrop, Nio delivered 10,707 vehicles in June, up 73.96 percent from 6,155 in May, though down 17.39 percent from 12,961 a year earlier.

Xpeng delivered 8,620 vehicles in June, up 14.84 percent from May and the fifth sequential growth, despite a 43.64 percent decline from the same month last year.

Li Auto delivered a record 32,575 vehicles in June, surpassing the 30,000 mark for the first time.

delivered 10,620 vehicles in June, up 146.86 percent year-on-year and up 22.38 percent from May.

Yu's team said Nio deliveries were slightly below their forecast, though the new ES6 appears to be ramping up smoothly and should be a bigger contributor in July along with the full month of production of the ET5 Touring.

After the price cut and a slew of new models, Nio could reach 20,000 units per month in the third quarter, the team said.

The team said Xpeng deliveries exceeded their expectations and, most importantly, the initial reception to the new G6 looks increasingly positive.

Looking ahead, Xpeng is on track to hit at least 10,000 deliveries in July and 15,000 in September is doable, the team said.

Here is the full text of the team's research note.

June gathering momentum

June EV sales surprised to the upside as demand picked up, likely signaling some normalization in consumer behavior and release of pent-up demand from buyers taking advantage of low prices.

Total NEV retail sales appear to be tracking around 670k according to preliminary CPCA forecasts or +16 percent MoM (+26 percent YoY).

Li Auto once again led the way among the upstarts setting a new monthly record while Nio saw a large improvement MoM driven by speedy ramp up of ES6.

Looking ahead, the pressure will be on Nio and XPEV to deliver big growth in 2H from new launches while Li Auto strives to increase its already robust order book.

June OEM recap

Li Auto delivered 32,575 vehicles (+15 percent MoM; +150 percent YoY), easily beating our forecast. Looking ahead, management is targeting L8 and L9 to be +10,000 each and L7 at 15,000 in monthly sales for 3Q and then 40,000 total in 4Q.

To support this, we are expecting a cheaper variant of the L9 to be available later in the year.

Separately, the first BEV (Li MEGA) is set to be unveiled in 4Q, catering to the >500k RMB segment.

The company exited the month with 331 retail stores and 323 servicing centers.

Nio delivered 10,707 units (+74 percent MoM; -17 percent YoY), slightly below our forecast.

The new ES6 appears to be ramping up smoothly and should be an even bigger contributor in July along with a full month of ET5 Touring production. New ES8 deliveries also began in the last few days of June.

Following the price cut and slew of new models, we think 20,000 in monthly sales is achievable during 3Q.

Nio exited the month with ~1,500 battery swap stations.

XPeng delivered 8,620 units (+15 percent MoM; -44 percent YoY), ahead of our expectations. P7 sales increased 17 percent MoM to nearly 5,200.

Most importantly, the initial reception to the new G6 is looking increasingly positive.

Starting price will be just 210k RMB and management raised its pre-sale number to +35,000 units (vs. prior +25,000), suggesting a robust pipeline of deliveries for 3Q.

Looking ahead, we expect July can reach at least 10,000 deliveries and 15,000 in September is doable.

Zeekr delivered sales of 10,620 vehicles (+22 percent MoM; +147 percent YoY). Looking ahead, Zeekr is offering some promotions through September on the 001 (likely in response to ET5 Touring competition) including free upgrade options on exterior color, larger 100 kWh battery, dual-motor 4WD, air suspension, and/or charging credits.

In addition, the company is providing special financing offers on all models.

Recall, Zeekr is targeting 140,000 in total unit sales this year (<43,000 through 6 months so far).

Nio deliveries rebound to 10,707 units in Jun as new models bring relief

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BYD Seagull sold 23,005 units in June, with a cumulative sales of 38,805 units in the past two months

After BYD Seagull was released in April, its production capacity continued to climb, and sales in June increased by 60% compared to May.

The post BYD Seagull sold 23,005 units in June, with a cumulative sales of 38,805 units in the past two months appeared first on CarNewsChina.com.

Tesla delivers record 466,140 vehicles globally in Q2

Model 3 and Model Y delivered 446,915 units worldwide in the second quarter, beating market expectations of 437,400 and contributing 96 percent of deliveries.

Tesla (NASDAQ: TSLA) saw another record quarter of deliveries.

The US electric vehicle (EV) giant delivered 466,140 vehicles worldwide in the second quarter, up 83.02 percent year-on-year and up 10.23 percent from 422,875 in the first quarter, according to its overnight announcement.

It was also a new record for Tesla's EV deliveries and higher than the 448,400 units Wall Street analysts had expected.

Tesla's cheaper Model 3 and Model Y delivered 446,915 units worldwide in the second quarter, above market expectations of 437,400 units, contributing 96 percent of deliveries. A total of 19,255 Model S and Model X units were delivered, above expectations of 14,600 units.

Tesla produced 479,700 vehicles in the second quarter, including 460,211 Model 3 and Model Y, and 19,489 Model S with Model X.

Tesla's production and delivery gap was 13,560 units in the second quarter, down from 18,000 units in the previous quarter.

Tesla cut prices globally earlier this year, and its starting price for the Model 3 sedan came to an all-time low after it cut prices in China on January 6.

In early May, the company raised the prices of all Model 3s and Model Ys in China, all by 2,000 yuan ($275), an increase of less than 1 percent. The move was thought to be more aimed at dampening consumers' wait-and-see sentiment at the time.

In China, Tesla has a factory in Shanghai that produces the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year.

Tesla does not officially announce its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.

Tesla's retail sales in China in April and May were 39,956 and 42,508, respectively, and its Shanghai plant exported 35,886 and 35,187 units in the two months, according to the CPCA.

The company's June sales figures in China are expected to be available in a few days.

(OTCMKTS: BYDDY), one of Tesla's main competitors in China, delivered 703,561 new energy vehicles (NEVs) in the second quarter, including 700,244 passenger cars and 3,317 commercial vehicles, according to data released yesterday.

BYD's passenger vehicle sales in the second quarter included 352,163 battery electric vehicles (BEVs) similar to Tesla vehicles and 348,081 plug-in hybrid vehicles (PHEVs).

($1 = RMB 7.2523)

BYD sells record 253,046 NEVs in Jun, sales in H1 exceed 1.25 million

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BYD Jun sales breakdown: Qin 44,239, Song 42,388

Since March, the Qin family has been the top-selling model in monthly sales.

BYD today announced its new energy vehicle (NEV) sales for June, and later provided a breakdown of the different models.

The Qin family of models sold a record 44,239 units in June, making it the highest-selling BYD model for the month. This represents a 66.17 percent year-on-year increase and a 1.10 percent increase from May.

In the first half of the year, the Qin family of models sold 215,773 units, up 47.05 percent year-on-year.

From March to June, the Qin family was the highest-selling BYD model in monthly sales, figures monitored by CnEVPost show.

On February 10, BYD let a facelift of the plug-in hybrid sedan Qin Plus DM-i go on sale, offering five versions with a starting price range of RMB 99,800 ($13,760) to RMB 145,800.

This is the first time BYD has made a model with its DM-i powertrain start at less than RMB 100,000.

The Song family of models sold 42,388 units in June, making it the second highest-selling BYD model in June. This represents a 32.14 percent year-on-year increase and an 11.51 percent increase from May.

In the first half of the year, Song family models sold 259,013 units, an increase of 59.01 percent year-on-year.

The BYD brand includes the Dynasty series and the Ocean series. Song family models include the Song Pro and Song Max DM-i in the Dynasty series, and the Song Plus EV and Song Plus DM-i in the Ocean series.

In June, 16,453 units of the Dynasty series Song were sold and 25,935 units of the Ocean series Song Plus were sold.

BYD Yuan family models sold 33,935 units in June, up 71.99 percent year-on-year but down 5.25 percent from May.

In the first half of the year, the Yuan family of models sold 206,153 units, up 162.07 percent year-on-year.

The NEV maker launched the 2023 Yuan Pro on May 31 with a starting price of RMB 95,800.

BYD Dolphin sold 31,140 units in June, up 200.12 percent year-on-year and 1.50 percent from May.

In the first half of the year, BYD Dolphin sold 162,848 units, an increase of 178.31 percent year-on-year.

BYD Han family models sold 23,206 units in June, down 8.78 percent year-on-year, but up 13.83 percent from May.

In the first half of the year, the Han family of models sold 97,223 units, up 86.14 percent year-on-year.

On March 16, BYD let the 2023 Han EV go on sale. On May 18, BYD let the Han DM-i and Han DM-p facelift models go on sale.

BYD Seagull sold 23,005 units in June. The model was launched on April 26 with a starting price of RMB 73,800, making it the cheapest BYD model.

From April to June, BYD Seagull sold 38,805 units.

BYD Tang sold 12,657 units in June, up 55.61 percent year-on-year and 6.62 percent from May.

In the first half of the year, the Tang sold 69,339 units, up 24.21 percent year-on-year.

BYD made the 2023 Tang DM-i available on March 16 with a starting price of RMB 209,800.

BYD Chaser 05 sold 10,222 units in June, up 36.95 percent year-on-year and down 2.25 percent from May.

In the first half of the year, 39,906 units of the model were sold.

The BYD Seal sold 8,134 units in June, up 0.68 percent from May. The model sold 42,797 units in the first half of the year.

On May 10, BYD officially made the updated version of the Seal available, with a starting price of RMB 23,000 lower than the previously available model.

BYD Frigate 07 sold 8,037 units in June, down 19.67 percent from May. In the first half of the year, 47,667 units of the model were sold.

BYD sold 253,046 NEVs in June, up 88.79 percent from 134,036 units a year ago and up 5.34 percent from 240,220 units in May, according to data released earlier today.

This includes 251,685 new energy passenger vehicles, and 1,361 new energy commercial vehicles.

BYD's Dynasty series passenger cars sold 130,490 units in June, and the Ocean series sold 11,045 units.

($1 = RMB 7.2523)

BYD sells record 253,046 NEVs in Jun, sales in H1 exceed 1.25 million

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BYD sells record 253,046 NEVs in Jun, sales in H1 exceed 1.25 million

In the first half of the year, sold 1,255,637 NEVs, up 95.78 percent year-on-year.

BYD (OTCMKTS: BYDDY) saw yet another record sales.

BYD sold 253,046 new energy vehicles (NEVs) in June, up 88.79 percent from 134,036 units a year ago and up 5.34 percent from 240,220 units in May, according to data released today.

The company discontinued production and sales of vehicles powered entirely by internal combustion engines in March last year and switched to focus on producing plug-in hybrids and pure electric vehicles.

BYD's NEVs include passenger cars as well as commercial vehicles, with sales of 251,685 passenger NEVs in June, up 109.39 percent from 133,762 units a year ago and up 5.27 percent from 239,092 units in May.

BYD's commercial NEVs sold 1,361 units in June, up 396.72 percent from 274 units in the same month last year and up 20.66 percent from 1,128 units in May.

Among the passenger NEVs, battery electric vehicles (BEVs) sold 128,196 units, up 84.34 percent from 69,544 units in the same month last year and up 7.18 percent from 119,603 units in May.

Its passenger plug-in hybrid vehicles (PHEVs) were 123,489 units, up 92.30 percent from 64,218 units in the same month last year and up 3.35 percent from 119,489 units in May.

In June, BYD sold 10,536 NEVs in overseas markets, up 3.26 percent from 10,203 units in May.

The company first announced overseas sales figures for NEVs in July 2022.

In addition to being China's largest NEV company, BYD is also the country's second-largest manufacturer of power batteries.

BYD's installed power and storage battery capacity in June was about 11.816 GWh, up 72.27 percent from 6.859 GWh in the same month last year and up 2.85 percent from 11.489 GWh in May.

In the second quarter, BYD's NEV sales were 703,561 units, up 98.17 percent year-on-year and up 27.44 percent from the first quarter.

Its passenger NEV sales in the second quarter were 700,244 units, up 98.13 percent year-on-year and 27.80 percent from the first quarter.

Its passenger BEV sales in the second quarter were 352,163 units, up 95.32 percent year-on-year and up 33.07 percent from the first quarter.

Passenger PHEV sales were 348,081 units in the second quarter, up 101.06 percent year-on-year and 22.88 percent from the first quarter.

In the first half of the year, BYD's NEV sales were 1,255,637 units, up 95.78 percent year-on-year.

BYD aims to sell at least 3 million vehicles this year and strives to reach 3.6 million, the company's chairman and president Wang Chuanfu said in late March.

The figures announced today mean that BYD will need to sell an average of about 290,000 units per month in the second half of the year if it is to reach its annual sales target of 3 million units.

BYD aims to sell at least 3 million vehicles this year

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