凤凰网财经·2025-07-01 13:09Core Viewpoint - The article discusses the challenges and transformations faced by the Chinese automotive brand Tengshi, particularly in the context of the competitive new energy vehicle (NEV) market and its struggle to maintain brand recognition and sales momentum after the initial success of its D9 model [4][31][50]. Group 1: Market Performance - In May, Toyota Sienna regained the top position in the MPV sales rankings, while Tengshi D9 ranked second with a sales figure of 7,817 units, only 426 units ahead of Buick GL8 PHEV [2][3]. - Tengshi's total sales in May reached 14,557 units, with the D9 DM model accounting for approximately half of this figure [12]. - Despite initial success, Tengshi has faced increasing pressure in the competitive NEV market, leading to a decline in brand recognition and sales performance [4][12]. Group 2: Brand Evolution - Tengshi was established in 2011 as a joint venture between Daimler and BYD, aiming to create a high-end NEV brand [13][14]. - The brand struggled initially due to market conditions and consumer skepticism towards electric vehicles, resulting in significant losses exceeding 3.5 billion yuan from 2014 to 2018 [19]. - In 2021, BYD took control of Tengshi, marking a pivotal shift in the brand's strategy and positioning within the market [22][29]. Group 3: Product Strategy - The launch of the D9 in 2022 marked a significant turnaround for Tengshi, achieving sales of over 120,000 units in 2023 and becoming the MPV sales champion [34][38]. - However, since the D9, Tengshi has failed to produce another blockbuster model, with subsequent releases like the N7 and N8 underperforming in the market [40][41]. - The brand's reliance on a single successful model has raised concerns about its sustainability and ability to compete effectively in the evolving automotive landscape [48][49]. Group 4: Challenges Ahead - Tengshi's positioning as a mid-to-high-end brand faces challenges due to a lack of distinct brand identity compared to BYD's other offerings [53][57]. - The shift to a dual sales model of "direct sales + dealerships" aims to boost sales in lower-tier cities, but results have been underwhelming [58][61]. - The competitive landscape is intensifying, with traditional fuel vehicles encroaching on Tengshi's market share, necessitating a strategic reevaluation to ensure future viability [62][64].