More than 80 percent of Yangwang U8 owners are business owners, partners or company executives, and 90 percent own more than 2 cars.
(Image credit: CnEVPost)
BYD's (OTCMKTS: BYDDY) premium brand Yangwang has announced sales of its first model, the U8, since its launch and shared a snapshot of the ultra-luxury SUV's first owners.
The Yangwang U8 sold 5,000 units in 132 days after its launch, making it the fastest RMB 1 million class SUV to reach that milestone in China, the brand announced today on Weibo.
BYD officially launched the Yangwang brand on January 5, 2023 and launched the brand's first model, the Yangwang U8, on September 20 with a starting price of RMB 1,098,000 ($151,900).
The figures released by BYD today mean that the U8 saw sales reach 5,000 units on January 30 this year.
Yangwang U8 deliveries began in November 2023, with 408 units delivered in the first month, according to data compiled by CnEVPost.
In the past three months, deliveries of the U8 were 1,593, 1,652 and 780 units.
Cumulatively, 4,433 Yangwang U8s have been delivered by the end of February.
About 55 percent of Yangwang U8 owners are from China's first-tier and new first-tier cities, Yangwang said. New first-tier cities refer to large cities that are slightly smaller than first-tier cities.
More than 80 percent of the owners are business owners, partners or company executives.
About 90 percent of U8 owners have more than 2 cars, 20 percent have 5 or more cars, and 70 percent have a luxury car in the RMB 1 million class.
More than 30 percent of U8 customers purchased through owner recommendations, with the highest number of successful referrals from a single customer exceeding 10 vehicles.
The U8 has been ranked among the top three SUV sales in the RMB 1 million class for three consecutive months in a number of cities including Beijing, Shenzhen, Chengdu, Hangzhou, Xi'an, Wuhan and Zhengzhou, according to Yangwang.
The Yangwang U8 measures 5,319 mm in length, 2,050 mm in width and 1,930 mm in height, with a wheelbase of 3,050 mm.
The model's four electric motors produce a maximum power of 880 kW, or 1,200 horsepower, and can accelerate from 0 to 100 kilometers per hour in 3.6 seconds.
Yangwang launched the U9 electric supercar on February 25 with a starting price of RMB 1.68 million.
In addition to the U8 and U9, Yangwang revealed the U7 on January 10, saying it would be a new energy flagship sedan in the RMB 1 million class.
On January 15, the U7 entered a regulatory filing catalog, which showed the model's length, width, and height at 5,265 mm, 1,998 mm, and 1,517 mm, respectively, with a wheelbase of 3,160 mm.
The Yangwang U7 is powered by four permanent magnet synchronous motors, each with a peak power of 240 kW, according to the regulatory filing.
($1 = RMB 7.2295)
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