Reduce the price by 50,000 RMB! BYD officially announced.

On July 29, Fangchengbao Automobile officially announced that the entire series of Fangchengbao Leopard 5 has reduced the price by 50,000 yuan. Previously, the new car price range was 28.98-35.28 million yuan, and the latest price is 23.98-30.28 million yuan. This price reduction is carried out on the basis of keeping the configuration unchanged. Fangchengbao is a professional and personalized brand under BYD for the mid-to-high-end market, which was officially released on August 16, 2023. This price change is launched on the occasion of the brand’s first anniversary. Leopard 5 is the first model under Fangchengbao Automobile, which went on the market on November 9, 2023. It is positioned and built based on BYD’s new DMO super hybrid off-road platform, adopts a non-load-bearing body, and is equipped with a power system composed of a longitudinally installed 1.5T high-power engine and front and rear dual electric motors. The entire series is standard with low-speed four-wheel drive, leopard U-turn and other functions. The medium and high-end models are equipped with three differential locks, and the top-end model is also equipped with the Yunzhan-P intelligent hydraulic body control system. In terms of power, Leopard 5 is the first model of BYD’s new DMO super hybrid off-road platform, equipped with a four-wheel drive system composed of a 1.5T engine and front and rear dual electric motors. The peak power of its electric motors is 200 kW in the front and 285 kW in the rear, and the maximum net power of the engine is 135 kW. Leopard 5 will be a “longitudinal” engine model, which can add No. 92 gasoline and also supports 100 kW DC fast charging. It only takes 16 minutes from 30% to 80% charging, and the AC slow charging power is 6.6 kW. It also supports 6 kW high-power external discharge, and the overall cruising range performance of the whole vehicle reaches 1200 kilometers. Compared with BYD and Denza, as a new brand, Fangchengbao’s performance in the new energy vehicle market is not so brilliant. Data shows that in the first half of 2024, the cumulative sales volume of Fangchengbao Leopard 5 was 18,283 units, and the sales volume in the recent three months did not exceed 3,000 units, of which the sales volume in June was 2,680 units. Industry insiders believe that Fangchengbao announced the price reduction by taking advantage of the day of the brand’s renewal for one year. The main goal is still to expand the market share and open a larger personalized market through the channel system, product system and price band broadening. In addition, after this price reduction, the starting price of Leopard 5 has dropped to 240,000 yuan, which also makes room for the pricing of subsequent products. It is expected that the price of Leopard 3 is about 200,000 yuan and the price of Leopard 8 is about 300,000 yuan. In June this year, Fangchengbao announced that it officially added the channel model of dealer franchise. At present, the first batch of Fangchengbao’s investment invitation channel planning is about 22 provinces, 4 municipalities directly under the Central Government, and 5 autonomous regions across the country. Xiong Tianbo, general manager of Fangchengbao Division, said that at present, Fangchengbao has laid out 185 stores across the country. As a brand-new brand, the shortage of channel points makes it impossible for more people to recognize Fangchengbao, and it is also impossible for many people who like Fangchengbao to experience it conveniently, which is our regret. Li Yanwei, an expert from the China Automobile Dealers Association, believes: “At present, the overall sales volume of Fangchengbao is not large, and the product price is high. Correspondingly, in the consumer market, there are very few cities that have the ability to consume Fangchengbao products. If there is no product with a large sales volume, the risk of dealer investment in building a store will be relatively high.” It is understood that in addition to Leopard 5, Fangchengbao has already planned two models of Leopard 8 and Leopard 3, adopting a “2 + X” product plan, in which “2” is the off-road line and the sports car line, and “X” is other individual products in other subdivided fields. Xiong Tianbo, general manager of Fangchengbao Division, said that in terms of the launch of product rhythm, Fangchengbao has been slightly sluggish in the past. The price war has tended to slow down. As the penetration rate of new energy vehicles gradually reaches more than 40%, the price system capacity tends to be stable, and later it is mainly based on promotion, and it is impossible to have a situation where the price is reduced by 20% at every turn. Cui Dongshu, secretary-general of the Passenger Car Association, believes that after a round of price wars, automakers may re-evaluate their price strategies and seek a more stable profit model. At present, the quickest way to reduce inventory is to reduce production and stabilize the system.