The Model "Qin" of BYD Has Come into the Market Although Local Subsidy Policy Helps Less

In 17th December, "Qin", the first model of BYD in private new energy vehicles had come into the market. A month ago, BYD delayed the launching of "Qin" as to wait for more detailed subsidy policy. But until the launching of "Qin" a month later, the government doesn't release the policy. A analyst of new energy vehicles said, "The only effect of launching a month later is the attention of "Qin" has been increased a lot." In new subsidy policy of government towards new energy vehicles, the amount for plug-in hybrid has decreased from 50,000 to 35,000. At present, only the government of Shenzhen has confirmed to use the same policy as national policy. That means, "Qin" could only get the subsidy of 70,000 in Shenzhen and 35,000 in other cities.

BYD staff said to reporter in conference, "It is difficult to find a competitor for "Qin" in technology and price." For BYD, the enterprise hopes private new energy vehicles could support the sales starting from "Qin". It is said "Qin" has got nearly 3000 orders after receiving booking. The distributors are satisfied with the orders and full of hope about "Qin".

The prices of 2 models of "Qin" are 189,800 Yuan and 209,800 Yuan respectively. After the deduction of 35,000 from national subsidy policy, the final prices are 154,800 Yuan and 174,800 Yuan. Mr. Jia, a automobile analyst, said one of the meanings of this model is to reduce the price of new energy vehicles to less than 20,000.

It is a good price indeed for plug-in hybrid. Especially for Shenzhen market, the final price after subsidy is only 119,800 Yuan. In fact, the competition in the scope from 154,800 to 174,800 is fierce in traditional automobile market. The sales of self-owned brand are dismal. It is quite hard for BYD to use plug-in hybrid vehicles to break out in this scope. BYD also provide a lot of quality policies for customer and will launch "Tang" in next year.

In subsidy policies for new energy vehicles of Beijing & Shanghai, the hybrid model doesn't enjoy related preferential policies. Before the launching of "Qin", BYD hopes local governments could increase the subsidy for hybrid model and non-local brand. It is not obvious at present. So the target of "Qin" is most of second & third tier cities whose subsidy policies includes hybrid model.