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1、Insights on Car PurchaseDesicion Smart Driving(2025)TengYi Research InstituteExamining BYDs“Smart Driving for AllOffensive”AuthorsDirector/Chief ALijun ZhouIndustry AYing GaoIndustry ABenya ShiAs of early 2025,the controversy surrounding the concept of smart driving remained significant.Some people

2、believe that the term“smart driving”is simply a marketing gimmick because“smart”could mean a lot more than just technology and is a loose term that lacks rigor.From a technology perspective,smart driving mainly covers specific functions such as assisted driving and HMI.These functions have been some

3、what popularized in the past,so the concept of smart driving is really something thats not disruptive,but rather optimized and integrated.There is more diversion in terms of technology roadmap:where some may prefer the use of LiDARs and emphasize complex road conditions in China and others may prefe

4、r a vision-only approach and emphasize practicality when it comes to sensor suites.Similar diversion exists in terms of vehicle planning and control;Desire for smart driving:buyer preference on vehicles ability to achieve safer,more convenient and more comfortable driving through hardware/software s

5、uch as high-def sensor,algorithm and computeWhile debate continues in terms of technology maturation and choosing one roadmap over another,what matters at the end of the day is the improvement in user experience in areas such as safety and comfort.TengYi Research Institute primarily conducts consume

6、r research and does not have the wherewithal to debate about the right or wrong technology roadmap nor are we qualified to critique technology matura-tion.Therefore,we will focus on defining smart driving in terms of three key words associated with user experience:safety,comfort and convenience.Thou

7、gh“smart driving”has become somewhat of a modifier,but it has inadvertently become an influential term online.To better communicate with our readers,we will also use the term“smart driving”but for the purpose of this report it specifically refers to assisted driving(including high levels of assisted

8、 driving).After balancing pros and cons,we define desire for smart driving as buyer preference on vehicles ability to achieve safer,more convenient and more comfortable driving through hardware/software means such as high-definition sensors,algorithms and compute;This report is mainly based on onlin

9、e research from TYRI with more than 70,000 data samples in 2024 and references TengYi Big Data and TYRI offline research data.Desire for Smart Driving SchematicHD SensorAlgo/ComputeOthersComfortSafetyDesire for Smart DrivingHMIHD MapSmartChassisConvenienceChinas“smart driving consumption boom”intens

10、ified over the past 5-6 years after Tesla began local production in 2020,which rapidly ignited Chinese consumerspassion for smart driving.The emergence of new industry players such as Huawei,Xpeng,NIO and Li Auto further accelerated that boom.From 2020 to 2024,the desire for smart driving from Chine

11、se car buyers rose from less than 10%to nearly 40%as the Chinese car market quickly became the biggest fertile ground in the world for the popularization of smart driving.Carmakers that put lots of efforts into smart driving then expected the period 2025-2026 to be a golden harvesting season because

12、 of the“smart driving consumption boom,”yet all of a sudden have to deal with BYDs“smart driving for all offensive”announced in early 2025;Prior to 2025,the rapid emergence of the“smart driving consumption boom”and the meteoric rise of BYD in China never intersected.BYD Chairman Wang Chuanfu had emp

13、hasized back in 2018 that the first half of competition for BYD was electrification,and the second half would be smartification.Over the past few years,smartification-focused carmakers such as those with Huawei inside never took BYD as a serious competitor.But that changed on February 10,2025,when s

14、mart driving became a new label for BYD as it announced a surprising“smart driving for all offensive”that included smart driving editions for 21 models under its namesake brand,including the sub-RMB80,000 Seagull smart driving edition.“Right now,cars that are equipped with smart driving features oft

15、en cost more than RMB200,000,synonymous with high prices.In 2024 about 70%of the cars sold in China were priced below RMB200,000,so a majority of buyers do not have the opportunity to experience smart driving,as only 10%of the cars sold in the year had high levels of smart driving,”said Wang.“High u

16、pfront cost is the biggest barrier to the popularization of smart driving.Good technology should be available to all,therefore BYD wants to offer smart driving to all.”Carmakers like Tesla,Huawei ecosystem players and Li Auto have methodically pushed forward their smart driving strategies in the hop

17、es of upending the high-end car market and accelerate their carveout of traditional high-end brands such as Audi,Mercedes and BMW,while Chinese carmakers like Great Wall Motor,Geely and Changan have also tried to do the same with smart driving.The sudden“smart driving for all offensive”launched by B

18、YD in early 2025 in an instant elevated smart driving competition from one centered on the high-end car market to one that covers all market segments.The human and material resources reserve at many carmakers is far behind what is required of an entirely new battle.Even Geely Auto,which launched its

19、 own smartification offensive in early March in response to BYD,wont have all of its relevant smart driving models available until the second half of this year;BYDs surprise attack is like an elephant suddenly mutating into a monster catching competitors off-guard.In 2025,“examining BYDs smart drivi

20、ng for all offensive”has become a new challenge for competitors to respond to,especially for mainstream core competitors with weak smart driving capabilities such as VW,Toyota,Nissan and Honda.BYD has also given itself a new challenge:optimizing“smart driving for all offensive”in its next growth pha

21、se.The“smart driving for all offensive”from BYD came out of nowhere in early 2025 and caught competitors off-guard as“smart driving consumption boom”quickly takes industry by stormSource:TYRIStylingSafetyQualityOthersSmartDriving38.83%BrandPricePre-Purchase Desire for SmartDriving in Chinas PV Marke

22、t 2024Desire for Smart Drivingin Chinas PV Market2020-2024February 10,2025:BYD introduces“smart driving for all”strategy,establishing a Gods Eye technology matrix offering high levels of smart driving technology on all of the namesake brands model lineup including the lowest-priced Seagull,making hi

23、gh levels of smart driving available to all.0%5%10%15%20%25%30%35%40%45%20202021202220232024 In 2024,Xiaomi led the way and smart driving-focused carmakersdominated the top 20 mainstream brands in desire for smart driving,while BYD brands were all outside the list,it had to make a proactive move in

24、early 2025 or risk losing momentumBYDs“smart driving for all offensive”launched in early 2025 is more of a forced defensive play rather than an offensive one.In 2024,the overall desire for smart driving in Chinas car market reached nearly 40%,meaning that nearly 40 out of every 100 car buyers cared

25、very much about smart driving.As the“smart driving consumption boom”comes into form,carmakers that properly capture smart driving consumption psyche naturally will perform better.BYD,Fang Cheng Bao and Denza brands were all outside of the top 20 rankings in desire for smart driving,which means BYD h

26、ad not yet captured that consumer psyche.If desire for smart driving from Chinese consumers further elevates from 2025 to 2027 and BYD does not offer clear smart driving selling points,sales might fluctuate significantly or even crater.The“smart driving for all offensive”came at the perfect timing f

27、or BYD as smart driving consumption reaches a key tipping point;Core brands that belong to the Huawei ecosystem such as AITO,LUXEED,AVATR,VOYAH and Deepal all appeared on the top 20 rankings of brands with desire for smart driving.From 2025 to 2026,once the smart driving battle becomes fiercer,espec

28、ially if the price range of products involved fall from RMB200,000 and above to sub-RMB200,000,competition will shift from value to cost,and Huawei will confront serious demand from its ecosystem partners to lower smart driving cost,and its car making business model will also face challenges;Smart-d

29、riving focused carmakers dominated by Chinese brands dominated the top 20 rankings of brands with desire for smart driving in 2024.This can be understood as either these emerging carmakers ignited smart driving consumption in Chinas car market or the smart driving consumption boom is conducive to th

30、ese carmakers further tapping growth potential;The desires for smart driving at NIO,Tesla and Xpeng were also very strong in 2024 as they round out the top 4 along with Xiaomi.The Xpeng MONA M03 in particular was a major factor behind BYDs accelerated launch of its“smart driving for all offensive.”O

31、n August 27,2024,the MONA M03 officially hit the market at RMB119,800-155,800 primarily targeting young buyers and billed as the only product offering high levels of smart driving under RMB200,000.It became an overnight success as end-user sales topped 10,000 units in September and 16,000 units in D

32、ecember,hitting BYD squarely in the face and challenging its models like the Qin L and Seal 06.The democratization of smart driving via the MONA M03 not only poses challenges for BYD but also other mainstream carmakers like Geely,Changan,VW and Toyota,but BYD was the only one that quickly made adjus

33、tments and responded accordingly.This should force carmakers to rethink and optimize their crisis anticipation and response mechanism;Xiaomi,which still has lots of potential to be extracted in terms of smart driving,led all mainstream brands in desire for smart driving in 2024 at 57.35%.As all new

34、products including the YU7 and YU9(to be confirmed)launch in 2025-2026,enriching Xiaomis product portfolio,its competition with Huawei ecosystem players centered on smart driving will intensify,and sub-RMB200,000 smart driving-focused models like the SU5 and SU3 that could be coming will pose signif

35、icant threat to BYD;The desire for smart driving from buyers of foreign high-end brands like Mercedes,Porsche,Land Rover,BMW,Audi and Volvo was also very strong and these brands all made it into the top 20 rankings.However,the pace and intensity at which these foreign carmakers are introducing smart

36、 driving features is far behind expectations of Chinese buyers.Be it the ABS 50 years ago or ESP 30 years ago,foreign high-end brands have always been synonymous with being pioneers in introducing and popularizing advanced technologies,and use that to solidify and sharpen their high-end label.Brands

37、 like BBA must do the same with smart driving;In addition to BYD,its core competitors such as VW,Toyota,Honda,Nissan,Geely,Changan,Haval and Chery were also missing in the top 20 rankings of brands with desire for smart driving in 2024.As the“smart driving consumption boom”comes into full swing,thes

38、e carmakers either need to proactively launch their own“smart driving for all offensive”like BYD or quickly come up with new selling points even more attractive than smart driving;High-end brands still dominated the top 20 rankings of brands with desire for smart driving in 2024,but following the mo

39、ves made by Xpeng with the MONA M03 in the second half of 2024,BYD with its“smart driving for all offensive”in early 2025 and Geelys response with its own initiative soon after,we expect more mainstream brands to appear in the top 20 rankings and help expand smart driving and its popularity.Top 20 M

40、ainstream Brands in Pre-PurchaseDesire for Smart Driving 2024Source:TYRIMainstream brand denotes brands with sales of more than 30,000 units in China in the year specified;the denominator of the penetration rate is the brand/model itself,while the numerator is the actual value of variable,this bette

41、r reflects the conditions of the said brand/model,so we are not going to dohorizontal comparison57.35%56.89%56.14%55.17%54.94%53.88%53.70%53.13%52.76%52.29%51.50%51.38%50.66%50.63%50.20%50.01%49.26%49.17%48.65%48.64%47.41%44.29%43.92%XiaomiNIOTeslaXpengAITOZEEKRMercedesAVATRLUXEEDPorscheIMLYNK&COLi

42、AutoLand RoverBMWAudismartVolvoVOYAHDeepalDenzaFang Cheng BaoBYD BYDs“smart driving for all offensive”based on its highmarket share of 15%and complimentary added features isexpected to set off a new market rhythm,competitors need toeither follow suit or cut pricesCompetitors need to proactively resp

43、ond to BYDs“smart driving for all offensive”even though they know it is an attempt to sway the market in a new direction.They can either follow suit or continue to cut prices;BYDs“smart driving for all offensive”in early 2025 may very well set off a new rhythm in Chinas smart driving competitive lan

44、dscape:in 2024 BYD Groups market share in China rose to 15.1%,surpassing long-time leader Volkswagen Group and far ahead of nemesis like Geely Group and Toyota Group.With such a high market share,most of what it does will set off a ripple effect in the industry,especially when it comes to the all-im

45、portant and sensitive smart driving tactics;from 2021 to 2024,the three rounds of massive price cuts launched by BYD not only significantly increased its sales,but also made competitors tremble with fear.The core selling point of BYDs smart driving offensive in early 2025 is enriching features witho

46、ut increasing prices,an indirect price cut that adds more fear for competi-tors;the core measure of BYDs smart driving offensive is standardization and popularization,dragging down the main battlefield of smart driving from the RMB200,000 and above price range to the sub-RMB200,000 price range or lo

47、wer,making it a battle of many instead of one of a few;smart driving has become the hottest catchphrase of Chinas car market in recent years,whether they participate in that battle or not,every single carmaker must keep a close eye on it.Now that BYD has taken action on the hottest topic in the indu

48、stry,others have no choice but to participate in the battleCarmakers that are profitable with economies of scale and strong parts integration capabilities will likely follow suit and launch their own smart driving offensive.From February to early March 2025,mainstream Chinese brands like Geely,Chang

49、an and Great Wall Motor leaned towards doing so:Geely for example launched its own smart driving initiative on March 3,the“vast expanse of thousand miles”covering five different tiers of smart driving capabilities including H1,H3,H5,H7 and H9,but these wont materialize until the second half of 2025.

50、If thats only what Geely could muster despite its swift actions,imagine how slow it would be at other carmakers.Foreign carmakers like VW,Buick and Honda that have red tape in decision making,weak local R&D and unshakable supplier interests largely can only respond by taking the last resort:cut pric

51、es.On March 28,2025,SAIC GM announced another“no bargain”pricing for the Buick Regal:the 25T Chaoxiang edition at RMB106,900 and the 28T Zongxiang edition at RMB123,900,more than 30%off from original MSRP.BYD Brands First Batch of Smart Driving ModelsSource:official corporate marketing materialCore

52、Factors BehindBYDs New Push forSmart DrivingBYD,VW,Toyota and Geely End-User Sales MarketShare in China 2017-2024Ocean NetworkDynasty NetworkSD EditionMSRP(RMB10K)MSRP(RMB10K)SD EditionSeagull6.98-8.58Qin PLUS DM-i7.98-10.38Dolphin9.98-12.58Qin PLUS EV10.98-12.98Seal 05DM-i7.98-10.38Qin L DM-i9.98-1

53、3.98Seal 06DM-i9.98-13.98Song L DM-i13.58-17.58Seal 06GT13.68-18.68Song L EV18.98-24.98Seal 07DM-i13.98-19.58Song Pro DM-i10.28-13.28Seal EV17.58-23.98Yuan UP9.98-11.98Sealion05DM-i10.28-13.28Han DM-i16.88-22.58Sealion07EV18.98-23.98Han EV17.98-23.58Song PLUS DM-i13.58-17.58Tang DM-i17.98-21.98Song

54、PLUS EV14.98-17.58BYDs PushforSmart DrivingNew Features at No CostHigh Market ShareFollow New TrendsPopularization/RMB200KFeature Standardization0%10%20%30%40%50%60%70%80%90%100%20172018201920202021202220232024OthersToyotaVW GroupGeelyBYDTo avoid blindly following suit and better understand BYDs sma

55、rt driving offensive,TYRI tries to understand users behind desire for smart driving first before extracting pertinent optimization and response tacticsShort-term,the relatively more capable carmakers could respond to BYDs smart driving offensive with their own,the average ones will likely announce p

56、rice cuts,and the weak ones might just sit it out.But it would be nave to think BYDs smart driving offensive is a short-term tactic.The offensive in early 2025 is relatively coarse and may only represent a beginning,like version 1.0.Once the scale effect forms,BYD may very well launch upgraded versi

57、ons 2.0 and 3.0.In order to effectively counter BYDs smart driving offensive,competitors must think long-term rather than reacting short-term;Long term,based on prior experiences in Chinas car market,many carmakers will try to fully benchmark BYD and launch comparable smart driving features.This tac

58、tic is relatively efficient and highly targeted and senior execs dont have to think as hard.But BYDs key competitive edge such as its vertical integration and battery prowess and Chairman Wang Chuanfus leadership is something that most competitors dont have.Xpengs launch of the cheaper MONA M03 with

59、 smart driving in the second half of 2024 was something that only a few senior execs at carmakers including Wang Chuanfu reacted to proactively,most others were nonchalant.Furthermore,BYDs“smart driving for all offensive”and its massive advantage in economies of scale are closely correlated and comp

60、lement each other.Without similar economies of scale,competitors may not be able to offer competitive pricing even if they launch their own offensive.Another key point is that the fury of BYDs“smart driving for all offensive”not only hides its own weakness in smart driving but also forces competitor

61、s into a scenario where they will be struggling to cope and miss golden opportunity to counter effectively;TYRI primarily conducts user research,and we assume there has to be differences in user prefer-ences when it comes to smart driving.If carmakers launch smart driving offensives prematurely,it m

62、ay not maximize resource utilization value.Based on the current tactics of BYDs smart driving offensive,the lower the vehicles are priced at,the less capable of their smart driving systems.But does the phenomenon that“people buy cheaper Dolphins and Seagulls not because they earn less but because th

63、ese models satisfy their mobility enabling needs”really exist?If so,do these buyers have the spending power to purchase more advanced levels of smart driving systems?If so,then has BYDs current smart driving offensive totally missed the new opportunity of mobility enabling vehicles elevating value a

64、dd?And are competing mobility enabling models such as the Geely Xingyuan and AION UT aware of this issue and can they seize this new opportunity?Based on TYRIs comparative advantage,we try to first understand users behind the desire for smart driving before extracting pertinent suggestions for BYD t

65、o optimize its smart driving offensive and competitors to better respond to BYDs smart driving offensive.BYDs Core Selling PointsPossible Competitive ResponseCompetitiveTacticsFullyBenchmarkNew TechNew ProductsPrice CutBring It OnDo NothingReturn toUser FocusGods Eye Smart Driving SystemYunnian Body

66、 ControlBlade BatteryDM Hybrid/e PlatformXuanji AI ArchitectureIGBT 4.0 Chip Scale AdvantageNEV Brand StrengthTeam LeadershipLingyuan SystemChannel AdvantageVertical IntegrationTeam LeadershipOthersYi to the 4thYunnian Body ControlFrom an income perspective,users that earn more have stronger desire

67、for smart driving,but BYD still primarily caters to blue collar buyers,high-end brands like Huawei-backed brands,Li Auto and BBA must remained laser focusedAfter BYDs launch of its“smart driving for all offensive”on February 10,Richard Yu,the outspoken chairman of Huaweis Intelligent Automotive Solu

68、tions BU was the first to comment on social media,posting on Weibo that“making smart driving work vs.making it work well are completely two different things,”an indirect swipe at BYD and its smart driving tech capabilities compared to Huaweis.He might not be wrong:BYDs priority in this round of the

69、smart driving offensive is to rapidly popularize it through the Gods Eye C solution primarily serving as an entry-level solution;As of early 2025,Huawei,which primarily targets the high-end car market and high-income earners still had an edge in smart driving over others.In 2024,wealthy buyers had t

70、he highest desire for smart driving in Chinas car market at 52.83%.Smart driving is essentially a standard feature in the wealthy car market.During the year,the AITO M9 powered by Huaweis smart driving system became a top seller in Chinas wealthy car market.The desire for smart driving from middle c

71、lass buyers was also relatively high at 42.89%,as smart driving is essentially a key feature in the middle class car market.Starting from Q4 2024,sales of the LUXEED R7 powered by Huaweis smart driving system and primarily targeted at middle class buyers steadily rose.The desire for smart driving fr

72、om blue collar buyers was relatively low at just 34.74%.Carmakers can provide smart driving as optional packages.Lacking cost competitive-ness,Huawei should think twice about offering smart driving at lower prices and for lower vehicle segments;Currently buyers of the namesake BYD brand are still pr

73、imarily blue collar family buyers,which accounted for over 60%of the brands sales in 2023.For these type of customers,if smart driving features are added at no cost,then theyll be more than happy to have these features on their cars.Many of them would just as be happy if the cars became RMB5,000 or

74、RMB10,000 cheaper without the smart driving features.If BYD does not offer this type of discount,then potential customers might turn to competing models that offer more value for money.If the“smart driving for all offensive”is ineffective and core competitors announce price cuts,BYD might have to cu

75、t prices on its smart driving editions,which will result in adding more content at even lower prices instead of adding content at no cost;Theoretically,high-end brands primarily priced above RMB200,000 like Denza,Fang Cheng Bao and Yang Wang should shoulder the weight of BYDs smart driving offensive

76、.But in the high-end car market,can BYDs smart driving solutions stack up against Huawei?Toward the end of 2024,the Denza D9 was significantly impacted by the VOYAH Dreamer which was powered by Huaweis smart driving system,and in early 2025,BYDs all-new Fang Cheng Bao 8 was launched with Huaweis sma

77、rt driving system.The Yang Wang U8 which is powered by BYDs highest level smart driving system,was a rounding error in terms of sales compared to the AITO M9 powered by Huaweis smart driving system;The“smart driving for all offensive”launched in early 2025 aimed at popularizing smart driving in the

78、sub-RMB200,000 price range was a smart move on BYDs part playing up to its strengths.Richard Yu was a bit mischievous saying what he said which basically spoke Wang Chuanfus mind and was the truth.High-end brands like Huawei-supported brands,Li Auto and BBA should work diligently on their own smart

79、driving capabilities and either popularize those features or optimize pricing.Once BYD popularizes its Gods Eye C solution and establishes an economies of scale advantage,its going to use that advantage to empower the B and A solutions and optimize pricing mechanism of high-end models powered by the

80、se more advanced solutions.If competing high-end brands try to mend the fence then,it could be too late;BYD currently does not have an absolute advantage to tap into the middle class and wealthy car markets through smart driving.Competitors like Huawei-backed brands,Li Auto and Xiaomi all have early

81、 mover advantage,however BBA have the biggest theoretical advantage.Source:TYRIBlue collar:annual household income RMB500KDesire for Smart Driving byUser Social Status 2024BYD,Denza,Li Auto and BBASales by User Social Status 20230%10%20%30%40%50%60%Blue CollarMiddle ClassWealthy0%10%20%30%40%50%60%7

82、0%80%90%100%BYDDenzaLi AutoMercedesBMWAudiWealthyMiddle Class Blue CollarSolution Gods Eye AGods Eye BGods Eye CCoreFeatureTri-LiDARLiDARTri-CamBrandsYang WangDenza/BYDBYDFunctionCity NOACity NOACity NOAHighway NOAHighway NOAHighway NOALane NOALane NOALane NOAYi to the 4Yi to the 3rdAVPAVPAVPRPARPAR

83、PAAPAAPAAPAAEBAEBAEBLow Speed AEB Low Speed AEBLow Speed AEB360 Vehicle View360 Vehicle View360 Vehicle ViewthVariations of BYDsGods Eye SolutionFrom an age perspective,younger buyers have stronger desire forsmart driving,but BYD does not primarily cater to young buyers,brands primarily catering to

84、young buyers like LYNK&CO,Deepaland MG should tap more into the smart driving potentialThe youth vibe and share of young buyers of many brands like Deepal,MG,Honda and LYNK&CO are pretty prominent,so these brands are more suitable for launching smart driving offensives.Condi-tions are most sufficien

85、t for Deepal and LYNK&CO,whose parent companies Changan and Geely have both announced overarching smart driving strategies but initially geared those toward volume brands like Qiyuan and Galaxy.Once they are aware of new opportunities brought forth by the fact that young buyers have stronger desire

86、for smart driving,itll be relatively easier to optimize those strate-gies.SAIC Motor has so far hinged its smart driving focus on Rising Auto integrating Huaweis smart driving system,making every possible effort.From a user perspective,the more youth-dedicated MG perhaps is the more appropriate bran

87、d to shoulder SAIC Motors smart driving strategy.For Honda and Mazda who are equally as dedicated to young buyers,its a bit unfortunate that although theoreti-cally smart driving would have been conducive to improving their performance in China,because they are behind in local R&D footprint,it aint

88、easy for the two to elevate their smart driving capabilities;From an age perspective,Audi,Mercedes and BMW also need to proactively cultivate smart driving selling points.First,young buyers account for a relatively high share of their sales;second,their young buyers are of more value;and third,these

89、 higher quality young buyers have stronger desire for smart driving.Though there have been constant rumors about BBA strengthening collaboration with Huawei in recent years,it has never materialized;BYD currently does not have an absolute advantage to tap into the youth car market through smart driv

90、ing.Competitors like Deepal,LYNK&CO and MG all have early mover advantage,however BBA have the biggest theoretical advantage.From an age perspective,the ground is not that fertile for BYDs“smart driving for all offensive.”Young buyers have the strongest desire for smart driving in Chinas car market

91、at nearly 42%in 2024,but these buyers only contributed to 40%of BYDs sales in 2023.Excluding young female buyers,that proportion is even lower.As of early 2025,the Seal EV and Seal 06 GT tailor-made for young male buyers had lukewarm market performance.This round of smart driving offensive from BYD

92、did not particularly address products targeted at young buyers such as the Seal EV and Seal 06 GT;Source:TYRIYouth:35 years old;middle-aged:35-54 years old;elderly:55 years old&aboveSales of BYD,Deepal,LYNK&CO,Honda,MG and Mazda by Age Group 2023Desire for Smart Driving by Age Group 202434%35%36%37%

93、38%39%40%41%42%43%YouthMiddle AgedElderly0%10%20%30%40%50%60%70%80%90%100%ElderlyMiddle AgedYouthBYDDenzaDeepalMGHondaLYNK&COMazdaBMWAudiMercedesFrom a gender perspective,female buyers have stronger desire for smart driving,though BYD has benefited from this,brands like Xiaomi,Tesla and BBA are more

94、 positioned to tap into this potentialFrom a gender perspective,the ground is also not that fertile for BYDs“smart driving for all offensive.”The difference in desire for smart driving between male and female buyers are quite different,with that from female buyers topping 41%and that from male buyer

95、s below 38%in 2024.The meteoric rise of BYD over recent years certainly benefited from the new opportunity of mobility enabling needs from female buyers,but male buyers remain the dominant buying force for BYD.In order to meet preferences of both male and female buyers,BYD needs to launch a“power of

96、fensive”in addition to the smart driving offensive,such as upgrading the 1.5T powertrain on the Denza D9 to 2.0T to better cater to desires of middle class male buyers;This round of smart driving offensive from BYD is conducive to it solidifying leadership positions of models like the Dolphin,Seagul

97、l,Yuan UP and Yuan PLUS in the mobility enabling small EV market dominated by female buyers.If it can further optimize its smart driving offensive,BYD may even increase the market potential of these small models.Thats because some of the buyers that have purchased these small EVs from BYD not becaus

98、e they dont have the buying power,but because these products better meet their mobility enabling needs.They actually have the consumption power to purchase more expensive mobility enabling products with higher tech content.Competitors like smart and ORA could perform better on the market if they can

99、 offer products with higher levels of smart driving features;The biggest difficulty of this round of smart driving offensive from BYD is cracking the high-end female car market.Though BYD has tried very hard with the Denza N7 and the Denza Z9 GT,as of early 2025 BYD still has not had a volume driver

100、 in the high-end mobility enabling car market dominated by female buyers.This makes this round of smart driving offensive from BYD irrelevant in the high-end mobility enabling car market.Core competitors like Xiaomi and Tesla in the high-end mobility enabling market dominated by female buyers are po

101、sing severe challenges to traditional beneficiaries BBA thanks to smart driving-centered selling points;Opportunities and challenges both exist for BYD to tap into the female car market through smart driving.Competitors like Xiaomi and Tesla have early mover advantage,however BBA have the biggest th

102、eoretical advantage.Source:TYRISales of BYD and Select Competitors by Gender 2023Desire for Smart Driving by Gender 202435%36%37%38%39%40%41%42%MaleFemale0%10%20%30%40%50%60%70%80%90%100%FemaleMaleBYDDenzasmartORAPorscheBMWNIOMercedesAudiZEEKRTeslaThis round of“smart driving offensive”from BYD is st

103、ill primarily targeted at mainstream carmakers like VW,Toyota,Changan and Geely,aiming to accelerate deterioration of their ICE vehicle market shareFrom 2020 to 2024,though the desire for smart driving in Chinas car market rose rapidly to nearly 40%,its still behind desires for mainstream selling po

104、ints such as brand,pricing,energy consumption and safety,similar to that for power,mainly correlated to specific user segments such as high-income,young and female buyers who have much stronger desire for smart driving.Plus,the fact that BYD caters primarily to mainstream buyers,especially middle-ag

105、ed male blue collar family buyers that have low desire for smart driving,this round of smart driving offensive from BYD might seem a bit far-fetched but itll still be able to counter competing products from VW,Toyota,Nissan,Changan,Geelly and Chery.These carmakers do not have a clear smart driving l

106、abel,and their capabilities might even be worse than BYD.This round of smart driving offensive from BYD is primarily about adding features at no cost,so for buyers they might as well have these features.In addition,the products that VW,Toyota and Changan have countered with still have lots of market

107、 volumes,which makes it interesting for what this round of smart driving offensive from BYD can accomplish;How exactly will BYDs current round of smart driving offensive play out depends on the intensity of response from competitors:if they proactively counter with their own smart driving offensive

108、or launch sales promotions,that will certainly hamper the effectiveness of BYDs smart driving offensive.And if BYD does not have the right contingency in place,it might jeopardize BYDs sales in 2025 where it might have to put in efforts just to try to maintain sales of 4 million units;if competitors

109、 do not counter effectively,BYDs smart driving offensive with the C solution alone could help BYD improve sales to 5 million units in 2025;Geely Auto might be the unluckiest carmaker in 2025 if it does not fully counter BYDs price war and smart driving offensive,because there were tons of potential

110、Geely Auto buyers that comparison shopped against BYD;In addition to head-to-head competitors,sensitive competitors also need to be on high alert and proactively counter against BYDs smart driving offensive:for example,if BYDs smart driving offensive could offset Xpengs core selling points and BYDs

111、Qin L and Seal 06 EV with their streamlined and sporty styling could offset the styling selling point for Xpengs MONA M03,then Xpeng sales could take a major hit;LeapMotor piggybacked on BYDs affordability and energy-saving selling points in 2024 and saw sales took off in 2024,but if LeapMotor doesn

112、t counter with its own smart driving offensive accordingly,sales might hit some speed bumps;Potential competitors also need to watch BYDs moves carefully and take proactive countermeasures.Among these potential competitors,brands like Haval and Buick lost their luster because of BYD,and brands like

113、Xiaomi,Audi and Tesla are relatively new entrants.The former needs to be on alert whether BYDs smart driving offensive will further nibble away their market share,while the latter needs to think about how they can become the predator for BYD when others have become the prey for BYD.By selling over 4

114、.2 million vehicles globally and more than 3.8 million vehicles in China,BYD became the industry leader in China.Who doesnt want a piece of BYD?Source:TYRIX-axis=ratio of competitors to BYD;Y-axis=ratio of BYD to competitors;size of circle corresponds to end-user sales in China in 2024YoungUsersFema

115、le UsersHigh Income UsersMainstream Family UsersBYD Competition 2024GeelyvwToyotaChanganCheryWulingHondaNissanXpengLeapMotorTeslaDeepalLYNK&COAIONHongqiBuickXiaomiAudiHavalHIMA0%5%10%15%20%25%30%35%40%0%2%4%6%8%10%12%14%16%18%Potential CompetitorsHead-to-HeadCompetitorsSensitiveCompetitorsBYDs first

116、 round of smart driving offensive aimed at popularization and establishing scale advantage will lay a solid foundation for the second round aimed at more specific and valuable segmentsThe smart driving offensive launched by BYD in early 2025 is primarily hinged on the Gods Eye C solution mainly addr

117、essing mainstream products priced below RMB200,000 with relatively low tech content,mostly aimed at popularizing smart driving and establishing relevant economies of scale advantage,in order to give it a leg up on core competitors such as carmakers that are not so much centered on smart driving;We h

118、ave come up with a simple schematic for the upgrade of BYDs smart driving solution.Because different customers have different levels of desire for smart driving,and because there is still a lot of potential for BYD to tap into segments involving high income,young and female buyers who have much stro

119、nger desire for smart driving,BYD theoretically should continue to build on its smart driving offensive and upgrade it to expand into new segments and cultivate higher value points,thereby shifting the aim of its smart driving offensive from non-smart driving centered carmakers to smart driving-cent

120、ered carmakers;Entering 2025,competitors like Li Auto,Xiaomi and Tesla have all strengthened smart driving capabilities of their vehicles,and some have even started the process of further reducing supply cost of smart driving.Regardless of whether thats aimed at countering BYDs smart driving offensi

121、ve,these countermeasures are all conducive to safeguarding themselves from an upgraded smart driving offensive from BYD;Maybe its too premature for Richard Yu to fire back at BYDs smart driving technologies.He might have to wait until BYD launches smart driving offensive version 2.0 or 3.0 in 2026 a

122、nd 2027.Possible BYD Smart Driving Offensive UpgradeYoung UserFemale UserHigh IncomeUserMainstreamFamily UserSmart Driving Offensive 1.0Smart DrivingOffensive 2.0CoreMissionCoreTargetCore UserCoreMeasureCoreMarketCoreSolutionCoreCompetitorPopularize/SolidifyEstablish Economies of ScaleMainstreamCoar

123、seMainstreamGods Eye Low-EndNon-Smart Driving Focused CarmakersUpgrade/ExpandCultivate High Value PointHigh Income/Youth/FemaleRefinedSub-SegmentGods Eye Mid/High-EndSmart Driving Focused CarmakersBYDs“smart driving offensive”launched in 2025 and actions takenby competitors so far foreshadow a“smart

124、 driving battle”for the agesin Chinas car market in 2025-2028The smart driving consumption boom in Chinas car market quickly came into form from 2020 to 2024,and BYD had yet to cater to the smart driving consumption psyche from buyers.From 2025 to 2026,as Chinas car market enters into the smart driv

125、ing era,BYD stands to lose significantly.In the second half of 2024,both the Xpeng MONA M03 and the VOYAH Dreamer with smart driving features gave a clear warning for BYD and Chairman Wang Chuanfu;BYDs sudden launch of its“smart driving for all offensive”in early 2025 caught many competitors off-gua

126、rd.Building on a tactic of adding more features at no additional cost and a high market share 15%,BYDs“smart driving for all offensive”will quickly shift Chinas smart driving competitive landscape into a new rhythm,and competitors must decide between launching their own smart driving offensive or sa

127、les promotions to counter BYDs move.To avoid making blind moves and better understand BYDs“smart driving for all offensive,”TYRI has conducted an analysis of users behind the desire for smart driving first before extracting pertinent optimization and response measures:from an income perspective,user

128、s that have higher income have stronger desire for smart driving,but BYD still primarily caters to blue collar buyers,high-end brands like Huawei-backed brands,Li Auto and BBA must remain laser focused;from an age perspective,younger buyers have stronger desire for smart driving,but BYD does not pri

129、marily cater to young buyers,brands primarily catering to young buyers like LYNK&CO,Deepal and MG should tap more into the smart driving potential;from a gender perspective,female buyers have stronger desire for smart driving,though BYD has benefited from this,brands like Xiaomi,Tesla and BBA are be

130、tter positioned to tap into this potentialComprehensively speaking,the current round of“smart driving offensive”from BYD is still primarily targeted at mainstream carmakers like VW,Toyota,Changan and Geely,aiming to accelerate deterio-ration of their ICE vehicle market share.This first round of smar

131、t driving offensive aimed at popularization and establishing scale advantage will lay a solid foundation for BYD to launch a second round smart driving offensive aimed at more specific and valuable segments.If mid to small Chinese brands cannot effectively counter it,BYDs smart driving offensive wil

132、l become a watershed moment for Chinese brands.And if foreign brands like VW,Nissan,Honda and BBA still cannot effectively counter it,it might become their last straw,and BYDs smart driving offensive will become a new turning point in the competition between Chinese and foreign brands.Smartification

133、 will officially become the new DNA for Chinese brands and help them establish differentiated competitive advantage in the global auto market;Though smart driving is rapidly becoming a new mainstream selling point in Chinas car market,its not the only selling point.Both BYD and its competitors shoul

134、d obviously embrace the smart driving boom,but they must also proactively explore and cultivate other strong selling points,this is especially so for competitors that dont have the capacity to launch their own smart driving offensive nor want to cut prices.Otherwise,its game over if they allow BYD t

135、o dictate competition through various offensives.CoreMissionCore TargetCoreUserCore MeasureCoreMarketCoreSolutionCoreCompetitorCountermeasureCustomersRetain Potential&Existing CustomersProactively Explore New CustomersIncrease Market ShareDefend Market ShareTargetPopularize/SolidifyEstablish Economi

136、es of ScaleMainstreamCoarseMainstreamGods Eye Low-EndNon-Smart Driving Focused CarmakersUpgrade/ExpandCultivate High Value PointHigh Income/Youth/FemaleRefinedSub-SegmentGods Eye Mid/High-EndSmart Driving Focused CarmakersMissionSeize New OpportunitiesMainstream competitors like VW,Toyota,Nissan,Gee

137、ly,Changan and Haval should rapidly popularize low-endsmart driving or continue with sales promotions;Foreign high-end brands like BBA should immediatelylaunch standardized high-end smart driving;Foreign high-end brands like BBA should proactively establish“technology leadership strategy”;Smart driv

138、ing-focused carmakers like Huawei,Tesla,Xiaomi and Li Auto should solidify their smart driving advantage in the high-end car market.Smart driving-focused carmakers like Huawei,Xiaomiand Li Auto should think about smart driving down market strategy.Mainstream carmakers should proactively cultivate ne

139、wselling points such as power,handling and design;Establish Smart Driving DevelopmentModel with Comparative AdvantageSmart Driving Offensive 1.0Self OptimizationCompetitive TacticsSmart Driving Offensive 2.0Short TermLong TermDesire for Smart Driving Trendsin Chinas PV Market 2020-2030Possible BYD S

140、mart Driving Offensive Upgradeand Suggestion for Competitor CountermeasuresCore Buyer Desires in ChinasPV Market in 20240%10%20%30%40%50%60%70%2020202220242026E2028E2030E0%10%20%30%40%50%60%70%BrandSafetyPriceQualityReputationComfortAEnergy Consumpt FeatureSpaceServiceStylingRangePowerSmart Driving

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143、tly TYRI does not publish reports for commercial purposes,we mainly helpempower customers like OEMs and dealers;TYRI prides itself on its rich data and the ability to speak the facts based on these data;Everyone has different views,therefore we welcome comments and feedback onour own views.Lets agre

144、e to disagree.TYRI positioning:non-commercial digital car market think tankTYRI mission:help Yiche customers better understand Chinascar marketCommunications(Media,etc.)Extract（Survey/Consulting/Association/Investment Banking）Target Audience（OEM/Dealer/Investment）Traffic,Leads,Conversion,Transaction

145、Ad,Membership,Collection,ActivityReceive Basic InformationGain Core PerspectivesReport,Advisory,Suggestion,Diagnostics,SystemInfo,etc.ServiceFeeGain Trust&CustomersShare Knowledge&OpportunitiesShareKnowledge&OpportunitiesGain Trust&CustomersGain Trust&CustomersShareKnowledge&OpportunitiesNew Species

146、(non-commercial digital think tank)Pro:WideAudienceCon:Limitedin DepthNature:TrafficConversionEffect:BoostSalesPro:Complementary;Con:Cooperation LimitedNature:Communication of Views;Effect:Elevate InfluenceThe media&thepressarestrengtheningdataanalysisandindustry authority,as well as elevatingcooper

147、ation withOEMs.Caseinpoint:TengYiforming TYRI.Entities likeconsulting firmsarestrengtheningdata miningcapabilities andindustryauthority,andimprovingindustrycredibility andcustomerinfluence,likethe McKinseyQuarterlyValue：Guidancefor the massmedia:realize long-term interaction;Cooperationforcommercial

148、 extraction:facilitate long-termcollaboration;Trust for customers:build long-termcooperationTraits:CommunicationsConsciousness,ExtractionCapability,Audience BaseAuto Industry Dialogue Tour Insights Clear as Blazing FireCore Topic:Creating a SegmentationSpecific EcosystemTime:December 2024-April 2025

149、Target:primarily TengYi customersincluding OEMs,one on one discussionSignup on WeChat:yicheresearch(please provide name,position,company and cell phone#)-a New Book from TengYi Research Institutes Industry Analysis Series gives a deeper look into the past,present and future evolution of Chinas car m

150、arket centered on specific user segments,thereby empowering core components of carmakers including strategic planning,product optimization and sales&marketing.How to get your book:OEMs,dealers and TengYi customers shouldcontact their TengYi service personnelNon-TengYi customers please contact TYRIdi

151、rectly(WeChat:yicheresearch)From December 2024 to April 2025,TYRI will kick off its 9 round of“Insights Clear as Blazing Fire”Auto Industry Trends&Analysis Dialogue Tour,covering the core topic of“creating a segmentation specific ecosystem”to help carmakers capitalize new opportunities presented by new market trends.thDemystifying Chinas Auto MarketDemystifying Chinas Auto Market(2024 Edition,Part II)Contact UsFollow UsWeChatJuns Market TalkBenya Shi，Industry AnalystMobile：188 0118 7009Mail：WeChat：yicheresearch