招财日报2025.2.11 中国科技、汽车行业点评

Group 1: BYD's Smart Driving Strategy - BYD announced its "Smart Driving Strategy" on February 10, equipping all models priced above 100,000 RMB and three models below 100,000 RMB with the "Tianshen Eye" advanced smart driving system[1] - The first batch includes 21 models featuring an end-to-end large language model (LLM), 5 millimeter-wave radars, 12 cameras, and 12 ultrasonic radars[1] - The supply chain for smart driving, including domain controllers, sensors, connectors, and displays, is expected to benefit, particularly companies like BYD Electronics, Sunny Optical, and BOE Technology[1] Group 2: January Discounts in the Automotive Industry - In January, the average discount across the industry increased by 0.3 percentage points, driven mainly by domestic brands like BYD, Leap Motor, and Aion, as well as German brands like BMW and Audi[2] - BYD's announcement to equip nearly all main sales models with advanced driving features without raising prices is expected to intensify the price war[2] - Leap Motor's average discount rose by 3.1 percentage points to 9.1%, exceeding expectations[2] Group 3: Competitive Landscape and Performance - Great Wall's average discount increased by 0.2 percentage points to 10.9%, indicating potential pressure on Q1 2025 performance due to declining sales and new model launches[3] - Geely's average discount narrowed by 0.3 percentage points to 9.8%, outperforming most competitors, attributed to reduced discounts on new models[3] - BYD's average discount rose by 1.2 percentage points to 6.1%, marking the highest nominal discount since 2020, with A/B class models seeing increases over 1.6 percentage points[3] Group 4: Pricing and Market Trends - BYD's self-developed high-level smart driving system will be available on 21 models priced between 70,000 RMB and 200,000 RMB, maintaining pricing consistency with 2024 models[4] - GAC's average discount increased, while GAC Toyota's discount narrowed by 0.5 percentage points to the lowest level since last year[4] - BMW's average discount rose by 0.9 percentage points to 31.7%, a historical high, with electric models seeing discounts as high as 41-48%[4]