BYD's NEV Dominance

1.0 1.5 2.0 INVENTORY PROBLEM OF ICE There are still two million cars in inventory that that are not compliant with the new China VI emissions standard China Inventory Index of Auto Dealers The Munich Conference of ICE OEMS (past 12 months) 1.8 汽车主机厂国六B切换情况座谈会 M 1.9 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Comments EL 中国汽车流通协会 2023年3月30日 V SAIC 中国一汽 FAW GROUP DONGFENG 长安汽车 CHANGAN 上汽集团广汽集团 SAIC MOTOR GAC GROUP 北该集团 CHERY BAIC Group Mercedes-Benz M M GEELY C 长城汽车 Audi TOYOTA The dramatic price cut in March was only the beginning of the story. There are still two million non- compliant cars in stock as of March that can only be sold as used cars when the new emission standard goes into effect on July 1st, leaving 3 months for further price cuts. OEMs and dealers are asking the government for a delay through industry associations. Source: Desktop research, Automobility analysis Automobility Ltd 35 55

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