Chery surpasses Changan and catches up with BYD, and the growth rates of the five domestically produced giants are seriously differentiated
2024-08-14
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
In July, BYD, Chery and Geely all achieved significant sales growth and ranked first, second and third among domestic brands. In contrast, Changan and Great Wall saw a significant decline in sales, which also led to significant changes in the ranking of the "Five Tigers of Domestic Brands". Dongfeng, regarded as a "dark horse", once again impacted the top position of domestic brands in July. GAC and SAIC Passenger Cars are not only getting further and further away from the "Five Tigers of Domestic Brands", but have not been able to reverse the negative growth trend so far.
According to the data released by GAC Group, Aion's sales have been declining since February this year, dragging down GAC's overall "six consecutive declines". "In the first half of this year, Haobo and Aion did not launch new cars, and the technical route does not yet cover PHEV. It is normal to encounter difficulties." Gu Huinan said, "In the second half of the year, we have three products that will usher in new sales growth; in 2025, GAC Aion may launch plug-in hybrid models."
Last Thursday (August 8), three major new domestic vehicles, including BYD Haiba 07 DM-i, Chery Tiggo 8L and 2025 Lynk & Co 08 EM-p, were launched almost at the same time.
Coincidentally, BYD, Chery and Geely all achieved substantial sales growth in July, and ranked first, second and third among domestic brands; in contrast, Changan and Great Wall's sales fell significantly, which also caused significant changes in the rankings of the "Five Tigers of Domestic Brands".
Specifically, in July, the sales of BYD, Chery, Geely, Changan and Great Wall were 342,383, 184,737, 150,782, 139,162 and 91,285 respectively, up 30.6%, 28.94%, 13%, -18.45% and -16.32% year-on-year; the cumulative sales in the first seven months were 1,955,366, 1,195,092, 1,106,512, 1,260,508 and 650,954 respectively, up 28.83%, 42.73%, 36%, 5.82% and 3.6% year-on-year.
Chery ranked second, while Changan dropped to fourth
In terms of target progress, in the first seven months of this year, BYD, Geely, Changan and Great Wall have completed 54.32%, 55.33%, 57.19% and 34.26% of their target tasks respectively.
Judging from the ranking, BYD continued to rank first in July with sales of over 300,000 vehicles, while Chery maintained a growth rate of around 30% and continued to catch up; Changan's "unexpected" decline allowed Chery and Geely to successfully take the top spot.
Dongfeng's own brand, which was regarded as a "dark horse" by the reporter of China Economic Net, once again challenged the top of the "five tigers of independent brands" in July. According to data released by Dongfeng Group, from January to July, Dongfeng Motor's independent brand vehicle sales reached 768,000 units, accounting for more than 50% of the total sales, a year-on-year increase of 45.9%; Dongfeng Motor's new energy vehicle sales reached 456,000 units, a year-on-year increase of 113.6%; Dongfeng Motor's vehicle export sales reached 131,000 units, a year-on-year increase of 7.8%.
GAC Auto and SAIC Passenger Vehicle, which once had the hope of breaking into the leading position of independent brands, are not only getting further and further away from the "Five Tigers", but have not been able to reverse the negative growth trend so far.
Data shows that the sales of GAC Auto and SAIC Passenger Cars in July were 54,084 and 50,279 respectively, down 29.18% and 29.95% year-on-year; the cumulative sales in the first seven months were 369,295 and 385,118 respectively, down 22.33% and 20.19% year-on-year.
GAC Aion's earnings have dropped for six consecutive years, while Great Wall Motors insists on long-termism
According to data released by GAC Group, Aion's sales have been declining since February this year, dragging down GAC's overall independent sales for six consecutive years.
Data shows that in July, Aion's sales were 28,287 units, down 37.17% year-on-year; in the first seven months, the cumulative sales were 154,616 units, down 39.21% year-on-year, making it the brand with the largest decline under GAC Group. For reference, in July, Trumpchi's sales were 25,797 units, down 17.7% year-on-year; in the first seven months, the cumulative sales were 214,679 units, down 2.9% year-on-year.
"In the first half of this year, neither Haobo nor Aion launched new cars, and the technical route does not yet cover PHEV. It is normal to encounter difficulties." Gu Huinan, general manager of GAC Aion, said in an interview with the media, "In the second half of the year, we have three products that will usher in new sales growth; in 2025, GAC Aion may launch plug-in hybrid models."
In sharp contrast to GAC Aion, Geely, Changan and Chery are catching up rapidly in the new energy sector. Data shows that in July, the sales of new energy vehicles of Geely, Changan and Chery were 59,051, 45,418 and 45,370 respectively, up 57.74%, 14.94% and 254.5% year-on-year respectively; the cumulative sales in the first seven months were 379,236, 344,483 and 226,321 respectively, up 104.96%, 59.8% and 193.7% year-on-year respectively.
It is worth noting that the sales of new energy vehicles under Great Wall Motors fell by 16.51% year-on-year in July to 24,145 units. A sentence in the interview documentary of Wei Jianjun, chairman of Great Wall Motors, which was recently released, may well respond to the reasons for the decline in sales of Great Wall Motors' new energy products.
Wei Jianjun said, "There is a voice that believes that Great Wall's electric vehicle sales are low and development is slow. In fact, this is a misunderstanding. We don't take subsidies so seriously. Sometimes over-reliance on subsidies will lead to deviations in business decisions."
Wei Jianjun also emphasized, "We are not rushing to make electric cars, but we are investing in batteries, motors, and electronic controls, and we have mastered some core technologies. We must adhere to long-termism rather than short-term thinking."
SAIC experienced a rare decline, while Chery remained in first place?
In terms of overseas business, "Chery continues to rank first in China's automobile industry; in July, 90,281 vehicles were exported, a year-on-year increase of 16.8%; from January to July, a total of 622,439 vehicles were exported, a year-on-year increase of 27.4%." said official data released by Chery.
Thanks to the balanced development of overseas and domestic markets, Chery has maintained rapid growth for many consecutive months. In the recently released 2024 Fortune Global 500, Chery Automobile entered the list for the first time with a revenue of US$39.092 billion, ranking 385th on the list.
SAIC Motor, also a leader in overseas sales, has seen a rare drop in sales. Data shows that SAIC's export sales in July were 81,800 vehicles, down 15.77% year-on-year; its cumulative sales from January to July were 569,600 vehicles, down 9.65% year-on-year.
Unlike SAIC and Chery, which have experienced mixed results in overseas markets, BYD, Geely, Great Wall and Changan, known as the "top four independent brands", are currently maintaining a momentum of advancing in parallel.
Data shows that in July, the overseas sales of Great Wall, Geely, BYD and Changan were 38,185, 32,382, 30,014 and 25,400 respectively, up 41.39%, 65%, 65.19% and 26.09% year-on-year respectively; the cumulative sales in the first seven months were 239,685, 229,810, 233,408 and 228,607 respectively, up 58.8%, 67%, 152.45% and 67.65% year-on-year respectively. (China Economic Net reporter Wang Yueyue)
Source: China Economic Net
