Etiqueta: Song L

BYD announced its 3Q results at the end of October. Revenue was down 3%, while net profit was down 32.6%. Overall, that does not look good compared to their recent growth and fell short of expectations. But it gets more interesting when you get into the details.Not only did R&D expenses go up 31%, but development capital expenditures went up a whopping 519.65% YoY “Mainly due to the increase in in-house R&D investments.” Most of their research and development is still accounted for as expenses (43.75 billion RMB versus 3.15 billion RMB), but that is clearly a significant increase. In combination, R&D was roughly twice net profits, and net profit would have gone up if R&D was flat.Inventory was up 31.83%, due mainly “to the augmentation of automobile business.” In other words, updated product that has not yet been delivered.“Contract liabilities” went up by 40.29% YoY, “mainly due to the increase in advance receipts of the automobile business.” In other words, deposits taken on vehicles that have not yet been delivered. Having obligations to deliver vehicles that have already received deposits is overall a good kind of liability.Non-current assets were up 50.36%, while long-term receivables were up 54.90%, mainly due to increases in leasing. This foreshadows future revenue.The balance sheet overall saw a significant improvement, with assets up 15.14% and shareholder equity (assets minus liabilities) up 32.53%. Construction in progress was up 144.15%, with several global factories being built, as well as the world’s largest R&D center. However, borrowing is up while payables are down, with shifts on the balance sheet likely reflecting shorter payment terms in vendor contracts.

The BYD Qin family models sold 71,248 units in October, remaining BYD's top-selling lineup.

The Sealion 06 is replacing the discontinued Song Plus -- the only model in BYD's Ocean series named after a Chinese dynasty.

BYD recently launched refreshes of its DM-I models for 2026. Most recently the Qin L, Song L, and Song Pro. Typically, BYD refreshes models in 1Q when sales are seasonably depressed in China. However, BYD has essentially refreshed its entire DM-I lineup out of cycle. This will let every model qualify for the revised 5% purchase tax exemption next year. It also means entry level models have moved up from roughly equivalent range of a Chevy Volt to approximately a first generation LEAF (~133 km). Meanwhile, their more premium models have increased to 200-250 km of EV-only range. Beyond the EV-range, these models use the electric motor as the primary means of propulsion. That already made them superior to ICE-centric PHEV’s that engage the engine regularly for moderate acceleration or highway operation, regardless of range rating. The new models now have enough range to cover daily driving on battery power alone, typically not needing to be charged daily.This added EV capability tends to come with upgraded interiors and additional features. BYD’s active dampening DiSus-C suspension is now standard on more models. The Song L DM-I was also updated with semi-hidden door handles, ahead of the anticipated ban on pop-out door handles in China. Features like HUD, heated/ventilated/massaging seats and onboard refrigerators come standard on more trim levels. Looking through the spec sheets on the BYD’s Chinese website, the cars have significantly improved while prices have stayed largely the same… but intelligent driving was dropped from some models.

BYD has launched the 2026 Song Pro DM-i SUV, Song L DM-i hybrid SUV, and Qin L DM-i hybrid sedan, introducing upgrades including longer battery range.

BYD Song L DM-i 2026 edition integrates driver-assist, electric range improvements, cold/warm console, and new body colors from 13,980 USD.

The 2026 BYD Song L DM-i launches this month in China with 200 km electric range and new tech upgrades.

Automotive Industry Competition Reverting to Its Core

The Song Plus, the only model in BYD's Ocean series named after a Chinese dynasty, is being replaced by the Sealion 06.

The refreshed BYD Yuan Plus (aka, Atto 3) appeared in recent regulatory filings with China’s Ministry of Industry and Information Technology (MIIT). Overall, the styling shows only minor tweaks to the exterior. However, there is one seemingly minor visual difference with significant implications, as pointed out by qq.com: the charging port has been moved from the front fender, below the A pillar (see below), to the rear fender (see top image).