BYD uses self-developed core technologies to make products with better performance and higher cost performance, the analysts say.
In November, BYD sold 10,105 units of its Han model, making it the first Chinese brand to sell more than 10,000 units of a mid- to large-sized sedan. According to Essence Securities, there are still sufficient orders for the Han, and sales are expected to reach record highs in the future.
BYD sold a total of 25,600 new energy passenger cars in November, up 139% year-on-year, and its sales volume and month-on-month growth rate hit a new high for the year.
The company sold 18,200 pure electric passenger cars in November, up 128 percent year-on-year and 22.13 percent over the previous month.
BYD sold 7,333 plug-in hybrid passenger cars in November, an increase of 174% year-over-year, with the increase coming mainly from the 2021 Tang DM and Han DM.
In November, BYD's Han (EV/DM) sales exceeded 10,000 units, reaching 10,105 units, making it the first Chinese brand's mid-size sedan to sell more than 10,000 units per month. Han EV sold 7,482 units and Han DM sold 2,623 units.
The main reasons for Han's success, according to Essence Securities in a report on Sunday, are as follows.
(1) BYD uses self-developed core technologies to make products with better performance and higher cost performance. For example, the Han EV uses BYD's core technologies-blade battery, super kinetic energy recovery system, silicon carbide module, new E platform, etc.
(2) BYD continues to innovate itself, surpass itself, and solve its own shortcomings, which is embodied in the Han DM: Han DM with the latest DM-p technology solves the problems of fuel consumption and driving quality of DM3.0 models and achieves a breakthrough in product power.
According to Essence Securities, Han orders are still abundant and future sales are expected to reach new highs.
In addition, these analysts believe that the debut of the first model of BYD's DM-i platform is expected to change the competitive landscape of gasoline vehicles.
BYD launches automatic parking assist system upgrade for Shenzhen Han EV owners
On November 20, 2020, BYD's Qin Plus made its debut at the Guangzhou Auto Show. The Qin Plus is the first model of BYD's DM-i platform, which is positioned as a compact sedan with a similar appearance to the Han DM.
The core features of the Qin Plus are ultra-low fuel consumption (3.8L), super smooth, and powerful (7 seconds of zero-100 acceleration).
Essence Securities said that BYD's Qin Plus price band is located in a large market with a large capacity, and the main competing models are selling very well, so if its product power is gradually recognized by consumers, it is expected to achieve a major breakthrough in sales.
It is expected to change the competition pattern of fuel vehicles in the future, as the DM-i platform models have the core advantages of low fuel consumption and a smoother ride.
NIO overtakes BYD as most valuable Chinese automaker, is this a bubble?
More on Cars
