Text/Wang Yanqi

導語：從年初上市即破萬，到第一季度末降價搏銷量，比亞迪夏怎麼了？

The ups and downs from the explosion to the downturn

今年1月，比亞迪夏上市首月就靠著10003輛的批發量震驚了MPV市場，但根據乘聯會數據顯示，1月和2月的實際零售量只有2794輛和2733輛。

By last month, the official wholesale volume still reached a good result of 3000 vehicles, but in terms of retail, according to the weekly sales data of Yiche, the monthly sales support was only about 0 vehicles.

This phenomenon of inflated wholesale volume but weak retail volume is essentially the result of BYD's expected conceit.

全國有將近4000家轉銷商，在比亞迪夏上市的初期囤車，也就導致了1月份批發量破萬的虛假繁榮。

然而隨著零售訂單的不足，2月份銷量也就環比暴跌了72%，導致3月的周銷量持續低迷，光是經銷商庫存積壓就要超過1萬台，這次的降價也是十分的無奈。

At the same time, what is even more uncomfortable is that consumers' sensitivity to frequent price adjustments with BYD has dropped to the freezing point.

這回4月份降價之後，許多車主在社交平臺上吐槽：“25萬的車現在降到20萬，剛提車的車主腸子都悔青了。”

甚至還有消費者直接大膽“預測”，等到5月份說不定又能再降2萬，現在入手肯定還會虧。

This mentality is also normal, according to BYD's behavior in the past two years, no one can say whether it will launch a "champion version" or "glory version" in the future.

根據乘聯會數據顯示，2025年1-2月MPV市場新能源滲透率突破45%，但比亞迪夏的銷量增速50%的同比增速顯著低於行業平均水準。

At the same time, analysts from the Passenger Association also pointed out: "The decline in sales of BYD Xia is not an isolated case, but a microcosm of the transformation of the new energy MPV market from 'policy-driven' to 'product-driven'." ”

This also reflects the logic of the transformation of the new energy market from "scale expansion" to "value competition".

"Stuck neck" from the inside out

我們拋開降價不看，單從定位來說，比亞迪夏的官方指導價為24.98-30.98萬元，看似比騰勢D9的33.98萬起和豐田賽那的29.98萬起性價比更高，但是實際上的市場競爭力卻大打折扣。

From an internal point of view, as BYD's high-end MPV, its Denza D9 has been at the top of the MPV sales list for a long time with its good brand premium ability and configuration advantages.

憑藉33.98萬起的售價和過硬的品質，連續15個月銷量破萬，去年更是靠著11.9萬輛的成績把別克GL8“拉下神壇”。

The BYD Xia highly overlaps with the Denza D9 in terms of power system and intelligent driving functions, but the configuration is reduced with core functions such as second-row massage, heating and ventilation, and it is difficult to attract high-end users due to the problem of brand positioning.

有轉銷商直接表示，預算30萬的客戶寧可加錢買騰勢D9，也不願意選擇夏，畢竟騰勢的車標就比比亞迪更有面子。

再來看外部壓力。豐田賽那的終端優惠能做到7萬塊錢，起售價也就降到了22.98萬；

本田奧德賽也推出了最高優惠8.3萬元，起售價更是低到15.28萬。

These joint venture fuel MPVs will further squeeze the living space of BYD Xia by virtue of their mature market reputation and terminal price advantages over the years.

同時如日中天的新勢力方面也沒有放過比亞迪，極氪009憑藉純電續航和智慧化配置，3月銷量直接暴增12位；

Geely's other MPV, the Galaxy Wing True L99, also entered the market with a starting price of 0.0 thousand, directly benchmarking BYD Xia.

These new cars have a lot of advantages in terms of battery life and intelligence, which directly overshadows the already weak cost performance of BYD Xia.

There is also the pure vision solution of Xpeng X9 and the Huawei Gankun Intelligent Driving of the VOYAH Dreamer, which directly hit Xia at the level of technical strength.

Awkward positioning and situation

In fact, the sluggish sales of BYD Xia are essentially the result of a mismatch between brand positioning and market demand.

比亞迪的主銷車型基本都集中在20萬以下市場，甚至有80%的銷量來自10萬元級車型，其“價格屠夫”的標籤深入人心。

However, in the MPV market, consumers actually pay more attention to the quality brought by the brand, rather than simply cost performance.

夏這款車其實就是比亞迪試圖在20-30萬這個價格帶，複刻騰勢D9的成功，但其實這兩款車的品牌基因是完全不同的。

As a basically independent high-end brand, DENZA D9 can be regarded as IKEA;

However, BYD Xia's brand premium ability is insufficient, it lacks a sense of quality as a commercial use, and it is not so perfect as a household configuration.

The entry-level version lacks practical functions such as wireless charging and second-row electric adjustment, and is complained by consumers that it is "born to lower the starting price";

Although there are these configurations in the middle configuration, the price is close to the Trumpchi M8, which was the top seller last year, and Trumpchi is obviously a more rational choice with more mature chassis tuning and reputation;

Of course, not to mention the high configuration, its own DENZA D9 is enough for it to drink a pot.

The market has adapted to the price butcher

雖然比亞迪夏此次最高能優惠4.2萬元，看起來力度確實很大，但實際上還是比亞迪常規價格戰策略的延續。

In the past two years, BYD has frequently cut prices for various reasons, and consumers have formed a consumption psychology of "buying up and not buying down".

As a result, BYD's price reduction is like a wolf, and consumers don't believe it at all.

In the face of BYD's price cuts, joint venture brands such as Toyota Sena and Honda Odyssey have also opened significant discounts, and the price war has evolved into an industry-wide involution in the MPV market.

For car companies, although frequent price cuts can increase sales in the short term, they will still damage the long-term value of the brand.

BYD's Yangwang and Equation Leopard's attempts in the high-end market were already a bit difficult, and Xia's price cut can be said to have further weakened consumers' confidence in BYD's high-end.

Wang Qing, deputy director of the Institute of Market Economy of the Development Research Center of the State Council, once pointed out: "The price war is overdrawing the industry's innovation ability. ”

Write at the end

Therefore, BYD Xia's price reduction is actually just a stop loss, and if you don't figure out your accurate positioning, it is likely to be in vain.

After all, in the MPV market, the simple price advantage can no longer impress consumers, and brand value, product power and user experience are the core of competition.

If BYD wants to gain a foothold in the MPV market, it must fundamentally solve the problems of brand image, product positioning and technical shortcomings.

Moreover, BYD's cost-effective advantage also needs to be re-reflected in Xia, and it is possible to sell the car well to who it is to sell to.

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