Xin Lang Cai Jing·2025-09-30 09:10Core Insights - Goldman Sachs reports that BYD's high-end brand Tengshi has begun pre-sales for the N8L, a D-class 6-seat SUV, with a starting price of 318,900 RMB [1] - The analysis indicates that within the 300,000 to 400,000 RMB price range, the top two best-selling models are the AITO M8 and Li Auto-W L7, both of which are 5-seat vehicles, while the third best-seller, Li L8, is a 6-seat model, similar to the Tengshi N8L [1] - The firm expresses optimism regarding BYD's long-term strategy for the Tengshi brand, emphasizing a focus on technology and safety [1] Market Positioning - The Tengshi N8L is positioned in a competitive segment where it scores higher than the Li L8, indicating a strong potential for market penetration [1] - The forecast for Tengshi brand sales shows a compound annual growth rate of 24%, increasing from 126,000 units in 2024 to an estimated 468,000 units by 2030 [1] - By 2030, the Tengshi brand is expected to contribute significantly to BYD's overall sales performance [1]