Sales of BYD luxury model Yangwang U8 hit 4,433

A photo of Yangwang U8 in the Shanghai Auto Show 2023 on Apr. 25. Xinhua

When BYD Co. officially launched the first model of Yangwang U8, its first million-yuan electric vehicle (EV) in January last year, chairman Wang Chuanfu personally drove the car into the venue and said the brand "will reshape the contours of the global luxury car market."

The Yangwang U8 generated the loudest buzz and was the biggest crowd-puller at the Shanghai Auto Show in April in 2023. Visitors waited in long queues for up to 30 minutes to get close to the luxury sports-utility vehicle (SUV).

Priced at 1.098 million yuan (US$159,000),the Yangwang brand is the antipode of BYD's Dynasty and Ocean series, which are all priced below 400,000 yuan for China's middle-class customers. Many expected very disappointing sales for the luxury brand as they believed very few would be willing to pay as much as more than one million yuan for such an electric SUV.    

The first batch of Yangwang U8 buyers received their vehicles in November, and BYD said it delivered 1,593 cars to its customers in December and 1,652 units in January.

The Shenzhen-based carmaker said late Monday that its sales of the luxury brand totaled 780 in February, which is usually a slow season in China's auto market. BYD said the eight-day Chinese New Year holiday also impacted its sales and it has sold a total of 4,433 units since the official delivery of the Yangwang U8 began more than three months ago.

Launched to rival the Mercedes G-class and the Land Rover Defender, the Yangwang U8's appearance evokes comparisons with the Range Rover. It can go from 0to 100km/h in 3.6 seconds, with a massive 1,100-horsepower engine and four wheel-side motors that can rotate the vehicle in a so-called tank turn and even crab-walk sideways. It also has a sealed undercarriage that lets it drive in water.

Last April, BYD released its DiSus intelligent vehicle body control system, enabling its cars to do spinning maneuvers and crab-walk.The DiSus is first available on the Yangwang U8.

Wang said DiSus is the first self-developed intelligent body control system launched by a Chinese automaker and will serve as a foundation for BYD's future development of its advanced driver assistance system.