BYD Seal and other four major rival models competitiveness analysis, another explosive models scheduled | sold to which series

In the booming wave of the global new energy vehicle industry, four models - Seal, Qin L DM-i, Model 3 and Deep Blue SL03 - have managed to stand out and take their place in the hotly contested market by virtue of their extraordinary performance, cutting-edge technological innovations, and precise strategic positioning in the market. This article analyses the competitiveness of these four models in depth and explores the reasons behind their sales and future development trends through July 2024 terminal sales data, city sales rankings, and their share in different market segments.

Seal

According to the analysis of terminal sales data of Gaixiang Automotive Research Institute, in July 2024, the terminal sales of BYD's classic hot-selling model Seal were 29,579 units, surging 562.32% year-on-year and 94.68% sequentially, and the cumulative sales of the first seven months were 72,187 units, showing unparalleled market attraction and growth potential.

In terms of sales level, Xi'an, Shenzhen, Nanning and other cities are the hot selling places for Corsair models. Xi'an led the way with 1,264 units sold, reflecting the city's large new energy consumer market and strong demand for vehicles. Shenzhen and Nanning followed with 1,104 and 951 units respectively, further confirming the positive trend of new energy vehicle promotion in coastal and southwestern regions. In terms of new energy penetration, Shenzhen has the highest rate of 67.68%, while cities such as Wenzhou and Haikou also performed more prominently, reaching 66.94% and 66.65% respectively.

Corsair has demonstrated strong competitiveness and extraordinary market influence in a number of market segments. Specifically, in the plug-in and electric hybrid market, Corsair is firmly seated in the third place with a market share of 7.8%; in the fiercely competitive B-class car market, Corsair is also among the top three with a market share of 4%; in the 100,000-150,000 market, Corsair has also won the favour of a large number of consumers by virtue of its excellent cost-effective advantage, and is ranked fifth in the segment with a market share of 3.52%. This not only reflects BYD Corsair's accurate grasp of market demand, but also demonstrates the comprehensiveness of its product line coverage and the flexibility of its market strategy.

Qin L DM-i

As a new BYD model, Qin L DM-i was officially launched on 28 May 2024, priced at RMB 99,800-139,800. It is the first to be equipped with BYD's fifth-generation DM technology, with superior energy-saving and range performance, bringing a new benchmark to the mid-size sedan market. According to the data, in July 2024, the terminal sales of Qin L DM-i were 33,029 units, an increase of 87.87% from the previous year, and the cumulative sales from May to July were 51,145 units.

In terms of city sales ranking, Tianjin, Xi'an, Guangxi and Nanning are the hot-selling cities for Qin L DM-i, with sales exceeding 1,000 units. In terms of new energy penetration, several cities showed high levels. Shenzhen led the way, followed by Nanning and Wuxi with 62.48 per cent and 60.57 per cent respectively, showing the remarkable results and high market acceptance of these cities in promoting new energy vehicles.

The Qin PLUS DM-i also showed strong competitiveness in various market segments. The plug-in and electric hybrid market, as well as the price range of less than 100,000-150,000 yuan, ranked first with a market share of 11.68% and 5.07%, respectively; in the fiercely competitive B-segment market, the QinL DM-i was also not shy, ranking third with a market share of 5.99%.

All in all, in just two months since its launch, Qin PLUS DM-i has been able to reap such sales results, which not only injects new vigour into BYD's brand, but is also expected to become another explosive model in the market.

ModeI 3

In July 2024, ModeI 3 terminal sales of 10,643 units increased by 32.51% year-on-year. However, compared with the previous month, sales showed a 40.62% YoY decline, which may be related to factors such as seasonal fluctuations in the market and consumers' wait-and-see attitude.The cumulative sales of 81,604 units from January to July fell short of the expected high level, but it still occupies an important position in the market.

In terms of city sales ranking, Nanjing topped the list with monthly sales of 1,121 units, showing the strong interest and high purchasing power of consumers in the city for high-end EVs. Hangzhou and Shanghai followed in second and third place with sales of 955 and 603 units respectively. These three cities are not only economically strong, but also have better charging infrastructures and higher environmental awareness, providing good conditions for the popularity of EVs such as the Model 3. Among the top 10 cities in terms of sales, the cities with higher new energy penetration rates are Shenzhen, Hangzhou and Nanjing.

In each segment, Tesla Model 3 occupies 2.16% share in the pure EV segment, ranking twelfth; it also occupies the twelfth position in the B-class market with 1.93% market share; and it occupies 3.94% share in the 20-25W price range, ranking seventh, proving its strong strength and wide recognition in the mid- to high-end EV market.
Shenlan SL03

In July 2024, Shamrock SL03 terminal sales of 6,046 units increased by 33.26% year-on-year and decreased by 0.21% year-on-year, with cumulative sales of 33,062 units from January to July. Compared with the first three benchmark models, the sales performance of the Deep Blue SL03 is slightly less impressive. What is particularly noteworthy is that although Chongqing, as the ‘home base’ of the Deep Blue SL03, led the sales chart with a significant advantage of 473 units, in other key cities such as Changsha and Dongguan, although the sales volume was at the top of the list, it was only maintained at the level of more than a hundred units, which was not able to form a wider sales boom. This reflects that the penetration and brand influence of the SL03 in the regional market needs to be strengthened in order to stimulate the purchase desire of more potential consumers.

Further in-depth analysis shows that although the Deep Blue SL03's market share in the extended-range hybrid segment reached 3.61% and ranked ninth, its performance in the highly competitive B-segment market and in the price range of 150,000-200,000 RMB is relatively weak, with a market share of only 1.10% and 1.56%, respectively, which ranked relatively low. This not only reveals that the competitiveness of Deep Blue SL03 in the market segment needs to be improved, but also signals that the brand needs to be more precise and powerful in its future market layout and product strategy.