BYD(SZ:002594) Nan Fang Du Shi Bao·2025-06-05 09:10Core Viewpoint - BYD's Fangchengbao brand faces delivery delays for its Ti3 model due to unexpectedly high order volumes and production ramp-up challenges, which may impact thousands of potential car owners [2][5]. Group 1: Delivery Issues - Fangchengbao's General Manager publicly apologized for the delivery delays of the Ti3 model, acknowledging that the order volume exceeded expectations [2]. - The Ti3 rear-wheel drive version began nationwide deliveries on May 30, with the all-wheel drive version also accelerating its delivery process [2]. - The company is working to significantly shorten the delivery cycle for both versions of the Ti3 [2]. Group 2: Sales Performance - The Ti3 has quickly become a sales driver for the Fangchengbao brand, contributing 5,598 units in May, which accounts for 44.4% of the brand's total sales of 12,592 vehicles, a year-on-year increase of 418.2% [5]. - The Ti3 is the fastest model in the Fangchengbao lineup to surpass 10,000 deliveries [5]. - In the first five months of the year, Fangchengbao's total sales reached 41,843 units, with the Ti3 contributing 8,646 units [6]. Group 3: Market Position and Future Outlook - The Ti3 is positioned as a unique pure electric SUV in the 150,000 RMB price range, expected to contribute over 40% of BYD's sales in this segment by 2025 [6]. - The overall market for new energy off-road vehicles is projected to grow by 103% by 2025, with BYD holding a 37% market share, second only to Great Wall Motors [6]. - With improvements in direct sales channels and new car purchase policies, Fangchengbao is expected to enhance delivery efficiency and user experience, potentially leading to further sales growth [6].