Denza sold over 12,000 units last month. The best-selling model was D9's PHEV version with an 82% share of of the sales. N7 was second with 15% share.
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So far, the N7 accounts for 12.85% of Denza's sales and is ranked as the third-best-selling luxury pure electric SUV in China in August.
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BYD is moving upmarket, and Denza is its first premium brand.
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The Denza N7 faces tough competition in its segment. Perhaps it can capture customers, especially with a traditional premium styling, it may find a market amongst a new older demographic.
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The first 1 million took BYD 13 years to produce. Last two million in just 9 months.
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The Denza N7 is a Model Y competitor with a price range that overlaps considerably with the Tesla model.
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As a joint venture between BYD and Mercedes-Benz, Denza will deliver the N7 in mid-July. Next, Denza will launch another SUV Denza N8.
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Denza officially launched the Denza N7 on July 3, targeting the market where Tesla Model Y is located with a starting price of RMB 301,800.
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The first SUV model of BYD's premium new energy vehicle (NEV) brand Denza seems to have gained good initial acceptance.
The Denza N7 SUV received 11,687 firm orders 24 hours after its official launch, Denza announced on Weibo late yesterday night.
Denza is a joint venture between BYD and Mercedes-Benz, each holding a 50 percent stake at the time of its inception. BYD increased its stake in Denza to 90 percent last year.
The brand officially launched the Denza N7, its second model since rebranding, at a launch event in Beijing on July 3, with a starting price of RMB 301,800 ($44,220) aimed at the market where the Tesla Model Y is located.
Prior to the launch of the N7, Denza was offering only the D9, an MPV that went on sale in August 2022 and was officially delivered in October last year.
The Denza N7 is a 5-seat mid-size SUV with a length, width and height of 4,860 mm, 1,935 mm and 1,602 mm, respectively, and a wheelbase of 2,940 mm.
For comparison, the Tesla Model Y is slightly smaller, measuring 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.
The Model Y is currently offered in three versions in China with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively. The Tesla model was the best-selling SUV in China from January to May.
The Denza website currently shows four versions of the N7 with starting prices of RMB 319,800, RMB 339,800, RMB 349,800 and RMB 379,800 respectively.
All four versions are equipped with DiSus-A, an intelligent air body control system, which was unveiled by BYD on April 10 and is similar to the air suspension currently used in many high-end vehicles.
Customers who do not need the system reduce the price of the vehicle by RMB 18,000, resulting in these two Air versions priced at RMB 301,800 and RMB 321,800.
On the first day of the Shanghai auto show on April 18, Denza started pre-sales for the N7, although pricing information had not been released at that time.
In early June, Zhao Changjiang, general manager of Denza's sales division, said the Denza N7 had over 20,000 pre-orders before specifications and pricing were announced, and that 55 percent of these order holders were owners of luxury brands including Mercedes-Benz, BMW and Audi, and 35 percent were existing owners of BYD and Denza.
The Denza N7 opened for test drives on July 4 and deliveries are set to begin in mid-July.
In June, Denza delivered 11,058 vehicles, the fourth consecutive month to exceed the 10,000-unit mark, according to BYD data released on July 2.
($1 = 7.2323 RMB)
Denza launches N7 SUV to take on Tesla Model Y as brand gains momentum
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Denza has delivered more than 10,000 vehicles for four consecutive months, and with the N7 SUV targeting a larger market, it is expected to gain further momentum.
BYD's (OTCMKTS: BYDDY) joint venture with Mercedes-Benz, Denza, which was unknown in China until a few years ago, gained momentum as BYD took a controlling stake in the company last year. Now, Denza is looking to build further on it.
Denza officially launched the Denza N7 at an event in Beijing on Monday, and the electric SUV targets the market where the Tesla Model Y sits with a starting price of RMB 301,800 ($41,680).
The Denza N7 is a 5-seat mid-size SUV with a length, width and height of 4,860 mm, 1,935 mm and 1,602 mm respectively, and a wheelbase of 2,940 mm.
For comparison, the Tesla Model Y is slightly smaller, measuring 4,750 mm in length, 1,921 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.
The Model Y is currently offered in three versions in China with starting prices of RMB 263,900, RMB 313,900 and RMB 363,900 respectively. This Tesla model was the best-selling SUV in China from January to May.
Denza was established in 2010 as a joint venture between BYD and Daimler, with each holding a 50 percent stake at the time. In February 2022, the Daimler brand was rebranded as Mercedes-Benz. BYD increased its stake in Denza to 90 percent last year.
In August 2022, Denza launched the D9 MPV, the brand's first model after the reorganization. The Denza N7 is the second model after Denza's shareholding change and its first SUV.
Before the D9 was launched, Denza had little presence in China. With the D9 providing a new option for the MPV market, Denza has become one of the top new car-making brands in China in terms of deliveries.
In June, the Denza delivered 11,058 vehicles, marking the fourth consecutive month above the 10,000-unit mark, according to data released by BYD yesterday.
It is worth noting that these sales were contributed by the D9, while MPVs traditionally have a small total addressable market in China, only about 10 percent of the market for sedan or SUV models.
In May, retail sales of sedans in China were 851,469 units, SUVs were 795,611 units, and MPVs were only 94,983 units, according to the China Passenger Car Association (CPCA).
With the launch of the N7, Denza enters a market with significantly more space and is expected to see a further increase in sales.
The Denza N7 has received more than 20,000 pre-orders since it began accepting customer reservations on April 18, said Zhao Changjiang, general manager of Denza's sales division, at the launch event.
The Denza website currently shows four versions of the N7, with starting prices of RMB 319,800, RMB 339,800, RMB 349,800 and RMB 379,800 respectively.
All four versions are equipped with DiSus-A, an intelligent air body control system, which was announced by BYD on April 10 and is similar to the air suspension currently used in many high-end vehicles.
Customers who do not need the system can see the prices be reduced by RMB 18,000, resulting in two Air versions priced at RMB 301,800 and RMB 321,800, respectively.
The Denza N7 comes standard with BYD's signature blade battery based on lithium iron phosphate chemistry, all with a capacity of 91.3 kWh.
The two least expensive of these are the rear-wheel drive models with 230 kW of peak motor power and 360 Nm of peak torque, which can sprint from 0 to 100 km/h in 6.8 seconds. They both have a CLTC range of 702 km.
The other four higher-priced versions are four-wheel-drive models with 390 kW peak battery power and 670 Nm peak torque that can sprint from 0 to 100 km/h in 3.9 seconds. They have a CLTC range of 630 km.
Like the D9, the Denza N7 supports simultaneous charging with two charging guns, up to 150 kW when using one and 230 kW when using two.
In contrast to BYD's approach, Denza began the presentation by highlighting the N7's assisted driving capabilities, saying that the model is equipped with BYD's "Eyes of the God" driver-assisted driving system for the first time.
The Denza N7's assisted driving system includes two options, a standard version and an advanced version, the latter of which will use Nvidia's Orin-X chip with 254 TOPS of computing power.
The Denza N7 with the advanced version of the assisted driving solution will receive highway pilot assisted driving capability by the end of this year, while that capability in urban areas will become available in the first quarter of next year.
Denza did not mention information about the chip supplier for the standard version of the system, which is likely to be a lower-cost solution from a local manufacturer.
Denza N7 will be available for test drives on July 4, with deliveries starting in mid-July, Zhao said at the model's launch event.
($1 = RMB 7.2410)
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Denza N7 offers two CLTC cruising ranges of 702 km and 630 km.
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