BYD Q2 earnings summary, pretty good stuff actually. 22.2% is lower than Q1, but still reasonable.
New Energy Vehicles (NEVs) in China
- Thread starter supercat
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BYD Q2 earnings summary, pretty good stuff actually. 22.2% is lower than Q1, but still reasonable.
Luxury brands data show declines of BBA in China market.
CPCA figures show 55% NEV penetration in China market from Aug 1 to 25th. BYD is controlling the market.
Full product coverage from BYD is coming, but we should still expect maybe 20 to 30 more models to reach that point.
Just food for thought
BYD has sold 1,955,366 units to July
Some estimates they'll sell around 365,000 units in August for a total of 2,320,366
That means they will need to sell 1,279,634 in the remaining 4 months if they want to complete their target of 3.6 million, which on average is only 319,908 units per month
Seems like they can try to aim for > 3.8 million
BYD has sold 1,955,366 units to July
Some estimates they'll sell around 365,000 units in August for a total of 2,320,366
That means they will need to sell 1,279,634 in the remaining 4 months if they want to complete their target of 3.6 million, which on average is only 319,908 units per month
Seems like they can try to aim for > 3.8 million
What are people's thoughts on BYD's domination of the Chinese NEV market? I think it'll be close to 40% market share in August. Will it keep going up and is this a good or bad thing long term?
For me I hope it doesn't turn into too much of a monopoly and that some of the other carmakers can catch up. Of course I hope BYD continues to be successful but it's good to have a healthy amount of competition.
For me I hope it doesn't turn into too much of a monopoly and that some of the other carmakers can catch up. Of course I hope BYD continues to be successful but it's good to have a healthy amount of competition.
BYD does not have anything close to monopoly. It's quite uncompetitive vs Li Auto & Huawei in the 300k+ market.
I'm hoping to see another mass market manufacturer though. Changan, Geely, Chery are all in the running for that position
all of them are selling a lot of EVs already. There should be no concerns here.
BYD providing 1000 EVs to Grab
Looks like eBike market in Indonesia is exploding. That's great for Chinese companies.
At the end of the day, for mass consumer products like cars in mass markets like China, it all comes down to fundamental comparative advantages. Chinese consumers are smart and pragmatic and informed.
In good old ICE days, domestic car brands did not have any comparative advantage. BBA was no-brainer choice for luxury cars.
In EV days, BYD has demonstrated its strengths in vertical integration and deep R&D in NEV technologies.
In AI days, Huawei has demonstrated its strengths in almost every aspect of NEV manufacturing except ICE powertrains.
In today's AI-assisted NEV markets, BYD and HIMA cars are attacking all types under RMB 550k pricing ranges. Good old ICE power houses of VW and Toyota and BBA have been losing their comparative advantages against Chinese brands. The remaining advantages are Toyota quality reputation and BBA brand recognition.
Quality of Chinese brands is catching up fast thanks to adopting AI-assisted automation on massive scales.
AITO M9 and Beijing S9 are demonstrating that domestic luxury auto brands are no longer dreams.
BTW, Audi is going with Huawei on autonomous driving for China market. BYD is going with Huawei on Bao 8 SUV. Tesla FSD is at least months away from landing in China. I don't see alternatives for B B T to catch up with autonomous driving without some sort of alliance with Huawei.
So today's China auto competitive landscape is getting clearer by each month:
(1) Mass market segments is BYD playground.
(2) Autonomous driving is Huawei playground.
(3) AI in everyday driving is new luxury in consumer cars.
In good old ICE days, domestic car brands did not have any comparative advantage. BBA was no-brainer choice for luxury cars.
In EV days, BYD has demonstrated its strengths in vertical integration and deep R&D in NEV technologies.
In AI days, Huawei has demonstrated its strengths in almost every aspect of NEV manufacturing except ICE powertrains.
In today's AI-assisted NEV markets, BYD and HIMA cars are attacking all types under RMB 550k pricing ranges. Good old ICE power houses of VW and Toyota and BBA have been losing their comparative advantages against Chinese brands. The remaining advantages are Toyota quality reputation and BBA brand recognition.
Quality of Chinese brands is catching up fast thanks to adopting AI-assisted automation on massive scales.
AITO M9 and Beijing S9 are demonstrating that domestic luxury auto brands are no longer dreams.
BTW, Audi is going with Huawei on autonomous driving for China market. BYD is going with Huawei on Bao 8 SUV. Tesla FSD is at least months away from landing in China. I don't see alternatives for B B T to catch up with autonomous driving without some sort of alliance with Huawei.
So today's China auto competitive landscape is getting clearer by each month:
(1) Mass market segments is BYD playground.
(2) Autonomous driving is Huawei playground.
(3) AI in everyday driving is new luxury in consumer cars.