Core Insights - The complaint index for the automotive industry surged by 38.53% year-on-year in the first three quarters of 2025, with service-related complaints accounting for 55.5% of the total [1] - BYD has been a significant contributor to the increase in service complaints, with its service complaint index reaching 62,440.95, representing a 39218.4 increase from the previous year [2][3] Summary by Category Complaint Index Overview - The service complaint index for the automotive industry in the first three quarters of 2025 is 90,455.3, up from 47,013.2 in the same period last year [1] - BYD's service complaint index alone accounted for nearly 70% of the total service complaints [2] BYD's Impact - BYD's service complaint index increased by 39218.4, with new car iterations and price changes being the primary causes of complaints [2] - Complaints related to price reductions and new model releases have significantly affected customer satisfaction, particularly after BYD's announcement of enhanced features without price increases [2] Other Companies' Complaints - Other companies such as Avita Technology, Deep Blue Automotive, and Li Auto also faced complaints due to similar issues of iteration and price changes [2] - Avita's complaints were concentrated around the release of a new model that affected the residual value of older models, while Deep Blue's complaints arose from significant upgrades in new models [2] Service Issues Beyond Pricing - After excluding price-related complaints, BYD's main issues were related to discrepancies between promised features and actual performance, as well as unfulfilled dealer commitments [5] - Changan Automobile's complaints were primarily due to unupdated vehicle systems, with 97.3% of complaints related to this issue [5] - Other companies like Chery and FAW Hongqi also reported high complaint rates related to unfulfilled promises and system upgrades [6] General Trends - The primary service issues across various companies include system upgrades, unfulfilled promises, and deposit refund problems, indicating a need for improved dealer management and customer service [6] - The automotive industry must focus on enhancing channel management to improve customer satisfaction and product competitiveness [6]

Strategic Cooperation - BYD and Huasheng Good Car have signed a strategic cooperation agreement to collaborate in the field of new energy leasing and promote business development together [1][3] - The cooperation is part of BYD's "Technology for All" strategy, aiming to explore market potential and enhance consumer car purchasing experience [1] Product and Service Integration - Huasheng Good Car will purchase 5,000 units of BYD's entire model range annually, focusing on product customization, channel collaboration, and user services [3] - The partnership aims to create an integrated innovation model combining "product + channel + service," with Huasheng Good Car leveraging its extensive offline service network across 28 provincial-level administrative regions and over 200 cities [3] Market Impact - The collaboration is expected to reshape automotive consumption patterns, making high-quality new energy vehicles more accessible through flexible financial solutions [4] - BYD is recognized as a leader in the domestic new energy vehicle market, aligning well with Huasheng Good Car's user demands [4]