Xin Hua Cai Jing·2025-09-26 03:29Core Insights - BYD has launched the second generation of the Qin PLUS series, including the Qin PLUS DM-i 128KM, Qin PLUS EV 420, and 510KM models, starting at a price of 69,800 yuan, enhancing its presence in the compact sedan market [1][3] - The 60,000 to 100,000 yuan segment is identified as the "starting layer" for young consumers, reflecting significant changes in the automotive market over the years [2][3] - The launch of the new Qin PLUS models signifies a shift in the automotive landscape, with vehicles now offering advanced features and larger dimensions compared to previous models [3][4] Market Dynamics - The automotive industry is undergoing a transformation, with the Qin series representing the evolution of the compact sedan market [4][5] - The first-generation Qin DM was launched in 2013 at a price of 188,900 yuan, while the new models are significantly more affordable, showcasing the progress in technology and market positioning [5][6] - The Qin PLUS DM-i's launch in 2021 marked a pivotal moment for BYD, achieving a fuel consumption of 3.8L/100km and a comprehensive range of 1,245 km, surpassing traditional fuel vehicles [5][6] Sales Performance - The Qin family achieved over 480,000 units sold in 2023, marking a significant milestone as the first annual sedan sales champion for Chinese brands in 13 years [6][7] - Cumulative sales of the Qin family surpassed 2 million units by December 2024, demonstrating rapid growth and market acceptance [6][7] - BYD's total sales for 2024 exceeded 4.27 million units, with the Qin family contributing significantly to this figure [6][7] Competitive Landscape - The introduction of new models and price reductions by BYD is a strategic response to increasing competition in the compact sedan market, with several new entrants expected in 2025 [10] - The market is witnessing a reshaping of the A-class vehicle segment, with various brands, including both domestic and joint ventures, launching competitive models [10] - The ongoing evolution of the Qin family reflects BYD's commitment to innovation and market leadership in the electric vehicle sector [9][10]