BYD(SZ:002594) Jing Ji Guan Cha Wang·2025-08-01 12:21Group 1 - BYD's Yangwang U8L Ding Shi version has started pre-sales with a price of 1.3 million yuan, featuring a six-seat layout and advanced technologies [2] - The U8L Ding Shi version is larger than the current Range Rover Long Wheelbase, with dimensions of 5400/2049/1921mm and a wheelbase of 3250mm [2] - The introduction of the U8L Ding Shi version marks Yangwang's entry into the large six-seat SUV market, which is currently one of the hottest segments in China [2][3] Group 2 - Yangwang brand, a high-end electric vehicle brand under BYD, launched its first model, the U8, in September 2023, priced at 1.098 million yuan, achieving monthly sales exceeding 1500 units shortly after launch [3] - The U8L Ding Shi version's market performance is anticipated to be significant, especially as Yangwang's sales have declined from previous highs, with a total of 1003 units sold in the first half of the year [3][5] - The luxury SUV market in China has seen a surge in domestic brands entering the million-yuan segment, with competitors like Haobo SSR and Huawei's Zun Jie brand [3][4] Group 3 - Great Wall Motors is also entering the million-yuan luxury car market, establishing a new brand focused on hybrid and electric vehicles, indicating a competitive landscape for high-end vehicles [4] - The ultra-luxury car market in China has been dominated by international brands, which poses challenges for domestic brands due to lower brand recognition and market share [4] - Sales of ultra-luxury cars have been declining, with a reported 34% year-on-year drop in sales for vehicles priced over 1 million yuan in 2024 [4][5] Group 4 - The sales performance of domestic luxury brands has been mixed, with Yangwang showing a decline, while Zun Jie S800 has received strong initial demand with over 8000 pre-orders in 50 days [5] - BYD's overall vehicle sales reached 2.1459 million units in the first half of the year, a 33.04% increase year-on-year, indicating strong market performance despite challenges in the luxury segment [5]