A few years ago, the BYD Song series sales were decent, but nowhere at the levels of today. Its rise amongst the best-selling NEVs began in March 2021, when BYD released the Song PLUS DM-i, significantly reducing the price of a hybrid car. DM-i stands for Dual Mode Intelligent and is a marketing moniker denoting a plug-in hybrid. The DM-i launch was timely, during a period of high gasoline prices with few PHEV alternatives in the Chinese market.

Perfect Balance between Power and Fuel Economy

The Song PLUS is equipped with a 1.5L plug-in hybrid engine and an electric motor with a RWD range of either 55km or 85km and an AWD range of 116km (WLTC). The entry-level model features a fuel consumption of only 5.4L/100km and a respectable acceleration time from 0-100km/h of 8.2 seconds.

The BYD Song PLUS compares well even against joint venture plug-in hybrid SUV alternatives, including the Volkswagen Tangyue GTE, Honda CR-V PHEV, and the Toyota RAV4 Rongfang Dual Engine E+. While the entry-level trim models of Volkswagen, Honda, or Toyota may have more engine power (i.e. Turbocharged 1.4L or 2.0/2.5L), BYD's PHEV sides with pragmatism, focusing on lower fuel and pure electric consumption and longer range at a significantly lower price. For example, the RWD 85 km WLTC range Song PLUS DM-i is priced at 139,800 RMB, a significant discount from the Volkswagen Tangyue GTE at 242,900 RMB that has a mere 46km pure electric range.

First-Mover Advantage

Competition against domestic brands is actually stronger than with joint-venture legacy automakers. For example, Geely launched the Galaxy L7 last year on May 31, 2023 and has already seen its 100,000th L7 roll off the production line a year later.

On March 1, 2024, Galaxy launched the Longteng Edition, which lowered the price and upgraded the technical specs of the L7. The Longteng version's starting price undercuts BYD's, with a more horsepower, longer range (for the 139,700 RMB model), better fuel consumption of 5.23L/100km and lower electric consumption for the entry level model at only 11.9 kWh.

Despite these major selling points, BYD Song remains the clear best selling model, demonstrating the significance of the first mover's advantage. Other noteworthy PHEV compact SUVs in this segment are the Changan UNI-K iDD and Roewe eRX5. Both offer competitive electric range and energy efficiency at even lower prices than the BYD Song PLUS DM-i.