Auto consumption recovers
The new energy vehicle market continues to maintain high growth and is still the biggest bright spot in the domestic auto market.According to the preliminary estimates of the Federation of Passenger Transport Associations, the fullGuoxin EnergyWholesale sales in the passenger car market are expected to reach 546,000 units, a year-on-year increase of 130%, showing a strong and good growth trend, and may reach a record high.
On July 6, data released by the China Automobile Association showed that the sales volume of the automobile industry in June is expected to be 2.447 million units, a month-on-month increase of 34.4% and a year-on-year increase of 20.9%; from January to June, the sales volume is expected to be 12.002 million units, a year-on-year decrease of 7.1%.
Since March this year, affected by factors such as the epidemic in some regions, the domestic auto market has continued to decline sharply from March to May. With the easing of the epidemic in key auto production towns such as Jilin and Shanghai, and the introduction of a series of policies to promote consumption, the auto market picked up significantly in June.
In the passenger car market, according to preliminary statistics released by the Passenger Car Association on July 6, the national passenger car market retailed 1.926 million units in June, an increase of 22% year-on-year and a 42% increase from the same period last month; passenger car manufacturers nationwide wholesale 2.111 million vehicles, an increase of 37% year-on-year and a 33% increase from the previous month.
The Passenger Federation said that with the strong introduction of the national purchase tax policy and the further optimization of epidemic prevention and control measures, governments at all levels have recently issued a package of policies to boost the economy and promote consumption, which will have a certain role in promoting the recovery of the auto market. Transactions have increased.
Regarding the trend of the auto market in the second half of the year, the China Passenger Car Association pointed out that the current stimulus policy can support the recovery of sales, but consumers are not in a hurry to buy cars during the start-up period of the policy. Therefore, the incremental effect in June is more prominent, and the months from July to August are relatively flat, and the most effective Obviously will be in the fourth quarter of the policy exit period.
Although the cumulative growth rate of the auto market during the year is still negative, the strong recovery of the auto market in June has greatly eased the pessimism in the industry since April.
“For the auto market in the second half of the year, it is still relatively optimistic. The consumption is very resilient, and the expectation of an increase of 2 million (passenger car market) is maintained.” On July 6, Cui Dongshu, secretary-general of the Passenger Car Association, was interviewed by a reporter from the 21st Century Business Herald. time indicated.
Increased production capacity releases market demand
As the impact of the epidemic in major production areas gradually eased and the supply chain was gradually repaired, the production capacity and market demand that were stagnant in April and May due to the epidemic began to be released in June.
In March and April of this year, Changchun and Shanghai, which account for about 20% of my country’s auto production, experienced outbreaks one after another. A large number of parts and components companies gather around Shanghai, and the secondary impact of the supply of parts and components companies is more serious, affecting the production and sales rhythm of most car companies in the country. In April, the scale of automobile production and sales fell by more than 40%, which was a new monthly low for the same period in the past ten years.
However, in May, as the proportion of auto suppliers in the Yangtze River Delta and other places resuming work and production continued to increase, the supply chain was initially repaired. Entering June, while the production capacity of supply-side car companies has increased significantly, the introduction of the policy of halving the vehicle purchase tax has injected a boost into the car market.
On the supply side, during April and May, some companies stopped work and production, which greatly hindered logistics and transportation, and the production and supply capacity declined sharply. In June, the production and supply of most car companies were close to returning to normal, and they were making up for the production lost in the previous two months.For example, according toGAC GroupAccording to the released data, the June production of GAC Honda and GAC Toyota increased by 49.78% and 26.58% respectively year-on-year.
The recovery of the retail side is affected by multiple factors. The strong retail sales in June were better than the industry’s expected policy trends.
First, the policy of halving the car purchase tax has boosted the enthusiasm of some consumers; secondly, due to the obvious recovery of the market, the confidence of dealers has increased, the awareness of channel inventory replenishment is strong, and the sales pace has improved significantly; In the first half of the year, the consumption policy must really take effect, so that consumers can buy cars more effectively. Recently, some mainstream car companies have added preferential activities to try to make up for the loss of sales caused by the epidemic in the early stage and hit the semi-annual target.
However, Cui Dongshu pointed out that due to the pressure of rising costs and the serious losses of manufacturers and dealers, with the recovery of sales and the successful completion of the target, the trend of price recovery in the future auto market will become more and more obvious, and the effect of buying early and benefiting early will inevitably be reflected.
New energy vehicle sales may hit a record high
The new energy vehicle market continues to maintain high growth and is still the biggest bright spot in the domestic auto market. According to the preliminary estimates of the China Passenger Car Association, the wholesale sales of new energy passenger vehicles nationwide in June are expected to reach 546,000 units, a year-on-year increase of 130%.
Tesla China, which has been severely affected by the epidemic before, has the most obvious effect of increasing production capacity. According to data from the China Passenger Transport Association, Tesla’s China sales in July are expected to be 78,000 units, an increase of 142% month-on-month and a year-on-year increase of 135%.
In June, the new energy vehicle market of domestic mainstream manufacturers in the passenger vehicle market performed strongly, especiallyBYDShowing a strong and high growth trend.
On July 4, BYD announced the production and sales report for June 2022. Data show that BYD’s sales of new energy vehicles in June were 134,000 units, a year-on-year increase of 162.7%. From January to June this year, BYD’s cumulative sales volume was 641,400 units, a year-on-year increase of 314.90%. This data has surpassed its annual sales of last year (603,800 units).
According to Tesla’s production and delivery report, in the first half of 2022, Tesla delivered 564,000 vehicles globally, nearly 80,000 less than BYD. BYD won the global new energy vehicle sales champion in the first half of the year. In addition, other mainstream companies are also doing very well. According to the data of the China Passenger Transport Association, the sales volume of SAIC-GM-Wuling exceeded 40,000 vehicles, and the sales of Geely Automobile, Chery Automobile and GAC Aian exceeded 20,000 vehicles.
“This is a reflection of the good car-making system capabilities of mainstream car companies, and it is also in line with the trend of China’s middle-aged and elderly people and family miniaturization. The continued strength of A00-class and A0-class electric vehicles has promoted the strong development of mainstream car companies’ electric vehicles. It is an obvious manifestation of the advantages of electrification.” Cui Dongshu said.
In terms of new car-making forces, five companies, NIO, Xpeng, Lili, Nezha, and Leapmotor, delivered over 10,000 monthly deliveries. Among them, Xiaopeng Motors, Nezha Motors, and Leapmotor Motors all achieved year-on-year growth rates of over 130%, while Weilai and Ideal’s growth rates also exceeded 60%.
In the second half of the year, NIO, Ideal and Xiaopeng will all have new products on the market one after another. Previously, the three companies with obvious differences in product, pricing, and positioning will join forces.
NIO, which has experienced the product window period in 2021, ushered in intensive product launches this year. Among them, NIO’s first mass-produced pure electric sedan ET7 has started delivery. In addition, the medium and large five-seat SUV ES7 and medium-sized smart electric coupe ET5 will be launched respectively. Deliveries begin in late August and September.
Xpeng Motors’ flagship model, the Xpeng G9, will start pre-orders in August and be officially launched in September. He Xiaopeng, chairman and CEO of Xiaopeng Motors, said that the G9 will be the best SUV within 500,000 yuan.
On June 25, Lixiang Auto released its second mass-produced vehicle, Lixiang L9. It plans to start user delivery by the end of August. Li Xiang, chairman and CEO of Lixiang Auto, called it “the best family SUV within 5 million.”
In terms of other new forces, Celis, which Huawei has enabled in-depth cooperation with, delivered 7,658 new vehicles in June, a year-on-year increase of 524.12%, and monthly sales continued to increase. On July 4, AITO brand released the medium-sized SUV Wenjie M7. Huawei executive director and terminal BG CEO Yu Chengdong threatened, “Wenjie M7 will completely surpass the million-dollar luxury cars such as Toyota Alpha and Lexus LM.”
In addition, the restarted activity of new energy vehicles going to the countryside in 2022 will further drive the sales growth of Leapmotor and Nezha. A few days ago, the 2022 New Energy Vehicles Going to the Countryside event officially kicked off, with a total of 26 participating companies and a total of 70 models, including Nezha V, Nezha V Pro, Leapmotor T03, and Leapmotor C11.
Riding on the east wind of the new energy vehicle market, a large number of car companies released new energy vehicles intensively in the second half of the year, which is expected to promote the continuous attention of consumers in the new energy vehicle market.
In an interview with the 21st Century Business Herald reporter, Cui Dongshu said that he maintained his previous expectations for new energy this year. It is expected that the sales volume of new energy passenger vehicles will have the opportunity to exceed 5.5 million in 2022, continuing to achieve a high growth of about 70%.
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Responsible editor: Li Ang