技术“惊艳度”下降 用户痛点未完全解决

Core Viewpoint - BYD is facing challenges in the domestic market with a significant decline in sales, while its overseas market performance is strong, indicating a shift in focus towards international expansion and technological advancements [2][3]. Domestic Market Performance - In November, BYD's total sales reached 480,200 units, but domestic sales were only 348,300 units, reflecting a year-on-year decline of 26.81% and marking five consecutive months of decline [2]. - The decline in domestic sales is attributed to two main factors: a decrease in the "wow factor" of technological advancements and unresolved user pain points, such as slow charging speeds in low-temperature environments [2]. - The company emphasizes that its core competitiveness remains rooted in technology, supported by a research team of 120,000 engineers working on future breakthroughs [2]. Overseas Market Performance - In the first eleven months of the year, BYD's overseas passenger car sales reached 912,900 units, a remarkable increase of 153.58% year-on-year, surpassing the total overseas sales for 2024 [3]. - The overseas market is contributing positively to the company's profitability, with stable pricing conditions enhancing the overall profit structure [3]. Future Development Strategy - BYD plans to accelerate "technology democratization" by 2026, making advanced technologies from flagship models available in more volume-oriented models [4]. - The company aims to strengthen its brand presence and marketing strategies, particularly in high-end segments, to enhance competitiveness and drive growth [4]. - The company acknowledges past marketing complacency and intends to adjust its approach to build brand strength without engaging in aggressive marketing battles [5]. Focus on AI Technology - BYD is prioritizing the application of AI technology in manufacturing scenarios, investing significantly in human resources and hardware design to develop adaptable technologies for various applications [5].