Nowadays, the domestic auto market has ushered in a wave of price cuts, and BYD has struck first. Before the Chinese New Year was even over, it launched the Qin PLUS DM-i Honor Edition priced at 79,800 yuan, leaving other automakers at a loss. Capable automakers followed suit, while those without the strength folded. It's a simple principle.
However, what was completely unexpected was that BYD's sub-brand Denza recently announced a limited-time purchase benefits policy for the Denza D9, including cash discounts, bonus points, trade-in subsidies, and financial plans, with a maximum discount of up to 45,000 yuan.
The introduction of this policy has aroused widespread attention and discussion in the auto circle, including many car owners who have been talking about it in car owner group chats over the past few days. Therefore, Nianhan thinks it is still necessary to interpret Denza's move and what kind of effect BYD is actually trying to achieve.
Let's first talk about the advantages and highlights of this policy. On the surface, the limited-time purchase benefits launched for the Denza D9 are indeed very sincere, and the discount intensity is relatively substantial, covering a wide range of people and having strong appeal to potential consumers.
Not to mention anything else, the maximum cash discount of 25,000 yuan is equivalent to a direct price cut, so for consumers with limited budgets who have always had a need to buy an MPV, it is certainly hugely attractive.
There is also the 70,000 bonus points given, which can be used to redeem services such as maintenance and charging, further reducing the cost of vehicle use and improving the user experience.
And diversified purchase plans, such as trade-in subsidies and financial schemes and other purchase methods, undoubtedly meet the personalized needs of different users, lower the threshold for buying a car, and thus achieve the purpose of promotion.
So here comes the question: why does BYD formulate a price reduction strategy for the Denza D9, which has repeatedly topped MPV sales? Nianhan's analysis suggests that the reason Denza D9 launched limited-time purchase benefits is actually the result of multiple factors working together.
Because we all know that in recent years, competition in the domestic MPV market has been extremely fierce, with major automakers launching new models one after another to seize market share. Against this background, the Denza D9's launch of limited-time purchase benefits is undoubtedly intended to enhance its own competitiveness, attract more consumers, and secure a firm foothold in the fierce market competition.
In addition, last year Denza announced that its 2024 sales target would be set at 200,000 vehicles. To achieve this goal, Denza needs to step up efforts in all aspects, and the limited-time purchase benefits launched this time are one important measure among them. By increasing sales, Denza can further expand its market influence and gain economies of scale.
Any car enthusiast who knows about Denza should be aware that in recent years Denza has been working hard to improve its brand image, rather than always relying on BYD's halo to gain visibility and influence.
So the launch of limited-time purchase benefits this time undoubtedly demonstrates Denza's sincerity and giving back to users. And by giving back to consumers through such profit-sharing activities, Denza can establish a good brand image, improve user satisfaction, and enhance brand competitiveness.
However, Nianhan has noticed a piece of gossip claiming that the reason Denza D9 launched limited-time purchase benefits is actually to target the Buick GL8 and not give it any room to make a comeback.
According to relevant statistics, from January 2023 to February 2024, the cumulative sales of the Denza D9 were 108,000 vehicles, while the cumulative sales of the Buick GL8 were 115,000 vehicles. Among them, the Denza D9 surpassed the Buick GL8 twice, in June and November 2023, to win the MPV sales championship.
Coincidentally, spy photos of the new-generation Buick GL8 were exposed a few days ago, showing a very large improvement in product strength, and at the same time plug-in hybrid and pure electric versions were also launched. Once the new car goes on sale, it will undoubtedly shake the Denza D9's sales championship throne.
As for whether the Denza D9's limited-time purchase benefits specifically target the Buick GL8, Nianhan will refrain from commenting for now, but I believe the introduction of this policy benefit still has a certain appeal to Buick GL8 owners.
Because the target audiences of the Denza D9 and Buick GL8 overlap to some extent. Both models aim at family users who pursue comfort, space, and quality. However, as a new energy MPV, the Denza D9 has certain advantages in power performance, intelligent configuration, and other aspects.
Most importantly, the Denza D9 limited-time purchase benefits provide trade-in subsidies, among which original Buick GL8 owners can enjoy a 15,000 yuan trade-in subsidy. This also means that Buick GL8 owners can trade in their old cars for the Denza D9 and receive certain discounts. Doesn't it feel a bit like poaching?
