1、Insights on Purchase Decision Price&BYD Competitiveness(2025)TengYi Research Institute(Yiche Research Institute)Time for BYD to Launcha High-End Price WarAuthorsDirector/Chief AIndustry AIndustry ALijun ZhouYing GaoBenya ShiVisual DQiang ZhangDuring the ICE Vehicle era,in order to attract and entice
2、 potential customers to make a purchase,OEMs and dealers often offered discounts to various degrees in the areas of trade-in,loan,insurance,optional packages and giveaways in addition to price.In recent years,carmakers that accelerated rollout of EVs also incorporated owner benefits and points to he
3、lp drive sales and increase customer stickiness.To stimulate consumption,various levels of government have also introduced preferential policies such as purchase tax reduction or exemption,scrap subsidies and trade-in subsidies;This report defines desire for price as buyer preference on broad discou
4、nt factors including MSRP,trade-in,loan,insurance,optional packages,giveaways,benefits,points and government subsidies;This report is mainly based on online research from TYRI(formerly YRI)with over 50,000 data samples in the first three quarters of 2024,and also references TengYi Big Data and TYRI(
5、YRI)offline research data.Desire for price:buyer preference on broad discount factors such as MSRP,trade-in,loan,insurance,optional packages,giveaways,benefits,points and government subsidiesDefinition of Desire for PriceMSRPOtherDesire forPriceOptional Packages/GiveawaysLoan/InsuranceBenefits/Point
6、sTrade-inSubsidyOver the past two decades or so,price had always remained as the top purchase factor among Chinese car buyers,with desire for price remaining relatively high in 2024 at 66.56%.Chinese carmakers had always played the price war card as a core breakthrough tactic to proactively challeng