With the comprehensive development of the national scrapping and renewal policy and the local trade-in policy, superimposed by the “National Day” Golden week effect, the heat of the car market continued to rise in October.
Domestic car sales reached 3.
053 million in October, up 8.
7 per cent from a month earlier and 7 per cent year-on-year, according to the China Automobile Association.
The overall car market has risen, but the level of car companies is still uneven and divided obviously.
Although from a month-on-month point of view, the increase is definitely in the majority, but compared with the high and low judgment, and from a year-on-year point of view, the difference is more obvious, some car companies are still stuck in the quagmire of negative growth, while others continue to rise.
The old brand is still very independent, and BYD’s monthly sales exceeded 500000 for the first time.
According to the China Automobile Association, sales of Chinese brand passenger cars reached 1.
931 million in October, an increase of 30% over the same period last year, accounting for 70.
1% of sales, an increase of 10.
4% over the same period last year.
The further increase in the proportion of sales is mainly due to independent car companies that vigorously develop new energy vehicles, especially older independent car companies, which, after all, new energy vehicles are a strong driving force for the growth of the passenger car market.
Among the old independent car companies, BYD alone accounts for more than 30% of the new energy vehicle market.
Specifically, BYD sold a total of 502657 new energy vehicles (500526 passenger vehicles) in October, up 66.
5% from the same period last year and 19.
8% from the previous month.
The cumulative sales in the first 10 months exceeded 3.
25 million, up 36.
5% from the same period last year.
Since the beginning of this year, BYD’s monthly sales have continued to rise.
After returning to the 300000 + level in March, BYD’s monthly sales reached 340000 + in June, 370000 + in August, 400000 vehicles in September, and now more than 500000, showing a strong growth momentum.
According to analysts at the Global Automotive Research Institute, the core reason for the sharp rise in BYD’s monthly sales is the launch of its new models and obvious price concessions.
According to the Global Automotive Research Institute, BYD will sell more than 4.
2 million vehicles this year.
In addition to BYD, the overall sales performance of established independent car companies such as Chery and Geely is also relatively good, and the new energy vehicle sector is growing rapidly.
According to data, Chery Group sold 272155 cars in October, up 35.
9% from a year earlier.
Among them, new energy exceeded 70, 000 vehicles for the first time, with sales of 71330 vehicles, up 342% from the same period last year.
This year, Chery’s monthly sales of new energy have successively crossed the 40, 000, 50, 000 and 70, 000 mark, and according to the plan, it will challenge 100000 vehicles in December.
Source: Chery Group, look at Geely, the group sold a total of 226686 vehicles in October, a record high, with an increase of more than 12% month-on-month and about 28% year-on-year, of which sales of new energy vehicles reached 108722, an increase of more than 19% month-on-month and an increase of about 83% year-on-year, with cumulative sales of new energy vehicles reaching 654.
576 in the first 10 months.
It is worth noting that some new energy sub-brands / series of established autonomous car companies are continuing to increase.
For example, Geely’s polar krypton delivered 25049 new cars in October, up 92% from the same month last year and 17% from the previous month.
Changan’s Deep Blue delivered 27862 new cars that month, with 36277 orders for the whole department.
and Dongfeng’s Lantu delivered 10157 new cars that month, with sales exceeding 10,000 for two consecutive months.
At the same time, however, Galaxy also noted that, unlike the previous multi-brand trend of “having more children and easy to fight”, some car companies have begun to scale back strategically.
For example, at the Chengdu auto show in September, Yu Jingmin, executive deputy general manager of SAIC passenger cars, announced that Roewe was integrated with Feifan’s marketing system.
on October 9th, the geometry brand was officially merged into the Galaxy brand, and “GEOME” became the “intelligent boutique car series” of Galaxy.
On November 14, Geely Holdings announced that it would optimize the ownership structure of polar krypton and Lectra.
After the adjustment, Geely’s shareholding in polar krypton will increase to about 62.
8%, and polar krypton will hold 51% of Lecker.
Some people in the industry said that the trend of auto companies’ new energy sub-brands from expansion to strategic contraction has become more and more obvious, which is due to the increasingly fierce market competition, automobile companies have to concentrate resources as much as possible by merging and integrating new energy sub-brands.
reduce internal friction and enhance overall competitiveness.
The differentiation of new forces is obvious.
Xiaomi’s monthly delivery volume has exceeded 20,000 for the first time, and its attention has turned to new power car companies.
October has seen a lot of things.
The ideal monthly delivery volume has broken through 50,000 more, zero run has doubled, and monthly delivery has exceeded the limit.
Xiaopeng, Wei to the “20,000 +” camp ushered in Xiaomi to join, which should not be optimistic performance, did not release the month’s delivery data as scheduled.
The ideal is still number one, with 51443 new cars delivered that month, down slightly from the previous month, but up 27.
3% from a year earlier.
As of October 31, ideal has delivered a total of 393255 vehicles this year, with a historical cumulative delivery volume of 1026619 vehicles.
Photo: ideal car, ideal currently has five models on sale, including ideal L9, ideal L8, ideal L7 and ideal L6 extended range SUV and ideal MEGA a pure electric MPV.
In addition to the ideal MEGA, several other models have performed well, among which the ideal L6 went on sale on April 18 this year, delivering more than 150000 vehicles in the seven months on the market, with an average monthly delivery volume of more than 20, 000 vehicles.
Hongmeng Zhihang delivered 41643 new cars in October, and the boundary is still the main force, with the delivery volume still at 30, 000 +, including 16004 for the M9 and 15836 for the M7 series.
The delivery volume of the intellectual world has increased significantly, with the overall delivery volume of 2202 vehicles in September and 4730 in October alone.
The zero run performed very well, delivering 38177 new cars that month, setting a new high for five consecutive months and an increase of more than 109 percent over the same period last year.
In the first 10 months of this year, the cumulative delivery volume of zero runs has exceeded 210000, nearly double that of the same period last year.
Not only that, zero runs in the hands of plenty of orders.
On the evening of October 31, Zhu Jiangming, founder, chairman and CEO of Zero Motor, revealed on WeChat: “the order record was broken again in October, and the orders for C10, C11 and C16 models all exceeded 10,000.
” In that month, the number of zero running locks has exceeded 42000.
This means that zero running is expected to continue to hit new highs next, and there is a good chance that it will exceed its annual sales target of 250000 vehicles.
Source: zero running car, Xiaopeng’s performance continues to improve.
With the help of MONA M03, its October delivery volume exceeded 20, 000 to 23917, both rising from the same month.
Next, Xiaopeng P7 + is expected to bring an important breakthrough to Xiaopeng sales.
On November 7, Xiaopeng P7 + launched three versions, including Xiaopeng P7 + long-range Max, ultra-long-range Max and limited edition Max, with official guidance prices of 186800 yuan, 198800 yuan and 218800 yuan respectively.
According to official figures, as of 24: 00:00 on November 7th, Xiaopeng P7+ the big order has reached 31528 vehicles.
Weilai is still firmly in the “20, 000 +” camp, delivering 20976 new cars that month, more than 20, 000 for six months in a row.
From a brand point of view, Weilai brand delivered 16657 new cars in October and Ledao brand delivered 4319 new cars.
It is worth noting that on November 15, at the 2024 Guangzhou Motor Show, Ledao President Ai Tiecheng said that the Ledao L60 order far exceeded the models listed in the same period and had been scheduled to be produced in the first quarter of next year.
As of November 14, the delivery volume of the car has exceeded 7000, with a monthly delivery target of more than 10, 000 in December and 20, 000 in March next year.
With the increase of Ledao L60, the delivery volume of Weilai is expected to usher in a significant breakthrough next year.
Xiaomi also broke into the 20, 000 + camp, and as of that month, Xiaomi had delivered more than 75000 vehicles this year.
On November 13th, Xiaomi announced that the 100,000th car of Xiaomi SU7 was officially off the line in only 230days.
In the face of growing market demand, it said the factory is accelerating capacity expansion, with a target delivery volume of 120000 vehicles by the end of the year.
Xiaomi Motors, which did not release delivery data this month, but combined with its performance so far this year and third-party data, its delivery volume continued to decline during the month. Nov. 14, Nezha is promoting a major strategic adjustment, which will significantly reduce and integrate first-and second-tier departments, optimize management levels, and strengthen the use of new AI tools such as big models.
It is expected that after this round of adjustment, human efficiency will be increased by 40%, organizational operating efficiency will be increased by 50%, and related operating expenses will be greatly reduced by more than 50%.
It is reported that after this strategic adjustment, Naha Automobile will allocate more resources to focus on overseas market expansion, and at the same time focus on the sustainable operation of superior models in China to ensure that each investment can produce a real return, and strive to achieve positive operating cash flow in February 2025.
The performance of the joint venture has improved.
Changan Ford outperformed the same period last year.
In October, the performance of joint ventures varied from the same period last year, with some car companies rising month-on-month.
For example, SAIC GM increased by more than 60%, Changan Mazda increased by 25%, and some car companies also showed a month-on-month decline.
For example, Changan Ford fell by nearly 20%, and Guangzhou Auto Toyota and Dongfeng Nissan also showed a certain degree of decline.
But it is worth noting that for joint venture car companies, even a short rebound will not change the overall decline so far this year.
It can be seen that both the monthly sales in October and the cumulative sales in the previous 10 months of the joint venture are generally lower than those of the same period last year, especially SAIC GM, which has dropped by about 60% compared with the same period last year.
Changan Ford should be a special case, it is the only joint venture in this statistics to achieve a year-on-year increase in monthly sales, and in the previous October, Changan Ford sales reached 192000 vehicles, also higher than the same period last year.
It is reported that this benefits from its multi-dimensional strength, such as the launch of new models, the adjustment of marketing strategy and so on.
However, looking back, many joint venture car companies, including Changan Ford, still face many challenges.
On the one hand, the competition in the car market is becoming increasingly fierce, the price war is still going on, and it is only more difficult to stabilize or even increase the share.
on the other hand, the rapid growth of the new energy vehicle market will continue to impact the traditional fuel car market, and as analysts at the Global Automotive Research Institute said, the joint venture brand will still rely on oil vehicles to survive and protect the market in the next two years.
Although the current electrified transformation is accelerated, it is difficult to see results in the short term.
On the whole, joint venture car companies still need to speed up the pace of transformation and upgrading.
According to the analysts of the Global Automotive Research Institute, the future focus of the joint venture brand includes the following aspects: first, technology is king, focusing on accelerating technical cooperation with domestic leading new energy vehicle companies, even actively joint venture or acquisition of components or software companies with technological advantages.
second, deeply embrace and purchase the technical solutions of domestic supply chain enterprises, and deeply localize the operation.
Third, reform the organization and management model, and authorize more local management teams to operate independently, so as to make the Chinese market a testing ground for openness and innovation.
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