BYD previews electric Porsche 911 rival with Denza Z concept
BYD already has an electric sports car with the
Yangwang U9
, and now it has previewed another with the Z concept from its other premium brand, Denza.
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West Australian
6 hours ago
- West Australian
Involution or evolution? China wants to stop the EV price war, but analysts are doubtful
As China's electric vehicle price war intensifies, its top leaders have sounded the alarm with high-profile calls to halt excessive competition, known colloquially as 'neijuan' or involution. While the buzzword has taken on various meanings in China to imply a race to the bottom, the term was mentioned in Chinese Premier Li Qiang's annual work report in March. The market regulator's meeting last month also called for 'comprehensively rectifying 'involutionary' competition'. Earlier this week, senior executives of several Chinese EV makers were summoned to Beijing to 'self-regulate', Bloomberg reported. However, industry players and analysts have predicted that the competition will only increase. 'A certain automaker has taken the lead in launching significant price cuts and many companies have followed suit, triggering a new round of 'price war' panic,' the China Association of Automobile Manufacturers said in a Chinese-language statement Saturday. The government-linked body was taking shots at EV giant BYD, which sparked the latest round of discounts on May 23, including a more than 30 per cent price cut on one of its car models. 'Disorderly 'price wars' intensify vicious competition,' the association said, warning of further pressure on profit margins and consumer safety risks. It called for companies to abide by fair competition and not monopolise the market or 'dump' goods at prices below the cost of production. ″'Price wars' have no winners, much less a future,' People's Daily, the official newspaper of the ruling Chinese Communist Party, subsequently said in an article, citing the Ministry of Industry and Information Technology. The ministry will increase regulation of non-productive competition and co-operate with other departments to enforce laws promoting fair competition, the report said. The ministry did not immediately respond to a request for comment. BYD referred to its comment to China's state media, in which the automaker said it firmly supports the manufacturing association's calls for fair competition and creating a healthy market. Analysts noted that BYD's latest markdowns are actually formalising discounts that consumers would have likely received previously under China's trade-in subsidy program, which aimed to boost consumption. Despite nearly a 30 per cent market share, BYD faces competitive pressure as well, Nomura analysts pointed out in a report Monday. The automaker, which counted Warren Buffett as an early investor, reported 14 per cent growth in sales last month, a slowdown from 19 per cent year-on-year growth in April. 'Given the current oversupply situation in the China auto market, we believe the most intense competitive phase is yet to come, until if we can see a meaningful market consolidation in the future,' the Nomura analysts said. Despite the rhetoric, there isn't much that can be done about market competition, Zhong Shi, an analyst with the China Automobile Dealers Association, said last week. He added that other countries are also watching the intense competition in China's car market and what it could mean for their local auto industries. The average price of a car exported from China has fallen since 2023, reversing an upward trend previously, according to figures published on social media by the China Passenger Car Association's Secretary-General Cui Dongshu. For China auto sales to Germany, the average export price per vehicle has fallen to $US21,000 ($32,300) as of this year, down from $US30,000 in 2023, the data showed. In Mexico, the top destination for Chinese car exports, was an exception, with the average price rising to $US13,000, up from $US12,000 two years ago. In China, the average car retail price has fallen by around 19 per cent over the past two years to around 165,000 yuan ($35,400), according to Nomura, citing industry data from Autohome Research Institute. There are other signals that the rush into electric cars has created oversupply. A 'strange phenomenon' of secondhand cars being sold with zero mileage has emerged, Great Wall Motor chairman Wei Jianjun said on May 23. He added that around 3000 to 4000 vendors on Chinese used car platforms were selling such were registered as sales or deliveries for automakers, only to be sold on the secondhand market almost immediately, which inflated sales volumes. But this created 'too much chaos', prompting Wei to call for better regulation within the industry. China's fast-growing market of battery-only and hybrid-powered cars has seen several price cuts over the last two years. The price war has yet to reach its peak, and 'competition will become more intense in the next five years', EV startup 's CEO He Xiaopeng told Chinese media last week. 'This is just an 'appetiser' of what is to come,' he added. He said that rather than competing on price, Xpeng would compete on technology and expand beyond China to the rest of the world. The startup has focused on making its driver-assist system a selling point and has delivered more than 30,000 cars a month for the past seven months. Last week, Xpeng released the Max version of its Mona 03 at 129,800 yuan, nearly 17 per cent cheaper than when the lower-priced model was initially revealed in August. Like most electric car startups, Xpeng reported losses attributable to shareholders in the first quarter of around $US90 million. Nio, which has focused on more premium vehicles, on Tuesday reported a loss of $US949.6m in the first quarter. However, Chinese smartphone company Xiaomi on Tuesday predicted its electric car business would turn a profit in the second half of the year, a company spokesperson said. The company entered the EV market last year with its SU7 sedan priced cheaper than Tesla's Model 3, and is expected to take on the Model Y with a YU7 SUV this summer. CNBC
The Advertiser
a day ago
- The Advertiser
What's driving the dramatic drop in Tesla sales?
Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car." Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car." Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car." Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car."
News.com.au
3 days ago
- News.com.au
GWM Cannon hybrid conquers ‘Beer O'Clock' hill
Chinese ute conquers one of Australia's toughest off-road tests If you think both Chinese-made utes and the new generation of hybrid haulers are soft, then you're in for a shock. Chinese car maker GWM is claiming it has made it up the tortuous and testing Beer O'Clock Hill at The Springs 4X4 Park in south east Queensland, something only the toughest, most capable off-road vehicles can manage. The GWM Cannon XSR ute reportedly became only the second full production-specification (non-modified) vehicle to make it up the hill unassisted; matching the feet of the Ineos Grenadier. But what was even more shocking for hybrid haters, is the Cannon Alpha PHEV (plug-in hybrid) became the first plug-in hybrid vehicle to make it up the slippery, challenging slope of Beer O'Clock Hill. The Cannon Alpha PHEV needed a set of all-terrain tyres, which aren't standard equipment, but in climbing up the hill it managed to do what its most direct rival – the BYD Shark 6 – couldn't. The BYD infamously was unable to make it up Beer O'Clock Hill back in April, causing a flood of derision for Chinese-made and plug-in hybrid utes. Off-road enthusiasts threw around comments that hybrid ute owners should 'keep dreaming' and 'stay in your cities where you belong', while also taking aim at BYD's Chinese roots claiming it was 'lucky the CCP didn't remotely immobilise him part way up'. MORE: GWM fires shots at BYD Lucas Bree is the owner of The Springs 4x4 Adventure Park and was behind the wheel for both the GWM and BYD attempts at his challenging test track. He was full of praise for the GWM, having initially assumed the GWM would suffer the same fate as the Shark 6. 'When GWM first reached out about testing on Beer O'Clock Hill, I was pleasantly surprised, but I'll admit, I didn't expect much,' Bree said. 'That surprise quickly turned to shock when they rolled in with completely stock production vehicles. No lifts, no engine mods – just factory-spec GWM 4X4 vehicles.' He admitted that it was rare for any non-modified car to make it up the incline, giving its rough and slippery nature, only to be shocked by its performance. 'But what happened next genuinely blew me away,' he said. 'All these vehicles didn't just attempt the climb – they powered through it. And then, without fuss, they turned around and drove back to Brisbane. 'I reckon Beer O'Clock Hill has caused hundreds of thousands of dollars in vehicle damage over the years. Shut down some of the most heavily modified rigs I've seen, so watching showroom-spec GWM vehicles, including a plug-in hybrid, make it to the top has completely changed my view of the brand. They've earned serious respect.' GWM has promised to release 'full-length, unedited' video of all three vehicles making the climb 'soon' to prove any doubters wrong. Plug-in hybrid utes are expected to become the next key battleground for car brands, as they look to cater to Australia's love of these off-road capable vehicles amid ever-stricter emissions legislation. Just this week Ford launched its hotly anticipated PHEV version of its best-selling Ranger ute to compete directly with the Shark 6 and Cannon Alpha PHEV.
