the sales report of auto companies in august is released: byd exceeds 370,000 vehicles, and the differentiation of new car-making forces is intensifying
2024-09-07
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although july and august are traditionally the off-season for automobile sales, with the release of old-for-new policies in various places, the performance of the new energy vehicle market in august this year exceeded expectations.
the china passenger car association branch recently stated that preliminary statistics showed that the passenger car market retailed 1.91 million vehicles in august, an increase of 11% month-on-month; the new energy vehicle market retailed 1.015 million vehicles, a year-on-year increase of 42% and a month-on-month increase of 16%.
so far, according to the data released by 20 automakers, both traditional automakers and new car manufacturers have delivered the best "report cards" in history. among them, byd achieved a new monthly sales record with sales of over 370,000 vehicles, which is the sixth consecutive month that its monthly sales have exceeded 300,000 vehicles. ideal auto surpassed hongmeng zhixing by 14,000 vehicles to maintain its first place in sales among new forces. leapmotor delivered more than 30,000 vehicles in a single month for the first time, surpassing weilai and xiaopeng, becoming the third new car manufacturer with monthly sales exceeding 30,000 vehicles.
the china automobile dealers association said that the old-for-new policy effectively stimulated consumers' demand for cars and prompted consumers to actively participate in old-for-new activities, thus injecting new vitality into the automobile market.
byd's monthly sales exceeded 300,000 units for six consecutive months
judging from the published data on new energy vehicle sales, the new energy vehicle market continued to show a rapid growth trend in august.
byd continues to consolidate its position in the new energy vehicle market. in august this year, byd's new energy vehicle sales were about 373,100 units, a year-on-year increase of 35.97%, setting a new monthly sales record. this is also the sixth consecutive month that its monthly sales have exceeded 300,000 units.
from january to august this year, byd's cumulative sales volume was about 2.3284 million vehicles, a year-on-year increase of 29.92%. according to the information previously released by the company, byd's sales target for 2024 is to "maintain a growth rate of more than 20% based on 3.02 million vehicles in 2023", and 64% of the annual sales target has been achieved in the first eight months.
chart by zhang bing, financial reporter of beijing news shell
compared with independent car companies such as byd, the sales of new car-making forces changed significantly last month, and the sales competition between ideal and hongmeng zhixing has escalated again.
in august, ideal auto delivered 48,100 new cars, a year-on-year increase of 37.8%, but compared with the sales of 51,000 vehicles in july, it was about 6% lower than the previous month. in the first eight months of this year, ideal auto delivered a total of 288,100 vehicles. as a strong competitor of ideal, hongmeng zhixing delivered 33,700 new cars in august. the sales gap with ideal auto has expanded from 6,900 vehicles in july to 14,400 vehicles; from january to august, hongmeng zhixing delivered a total of 272,100 vehicles.
both gac aion and leapmotor achieved monthly sales of more than 30,000 vehicles. among them, gac aion's sales in august increased slightly by 0.33% month-on-month to 35,400 vehicles; leapmotor's monthly delivery volume reached 30,300 vehicles, an increase of 113.5% year-on-year and more than 37% month-on-month, setting a historical record.
nio delivered more than 20,000 vehicles in august, a slight decrease of 1.57% from the previous month. in addition to the nio brand, nio hopes that the first model of its second brand, the ledao l60, will boost sales. according to the plan, the new car will be launched in september.
similarly, xiaopeng motors is also hoping to boost sales through its second brand. in august, xiaopeng motors delivered 14,000 new vehicles. although it achieved a month-on-month growth of 25.94%, it still lags behind the leading new car manufacturers. on august 27, xiaopeng mona m03 was launched, with a starting price of less than 120,000 yuan, which is regarded by xiaopeng motors as the next lever to boost sales.
beijing news shell finance reporter noticed that in recent months, the list of top new energy vehicle companies has been relatively stable, especially in the past two months, the ranking has not changed much. at the same time, under fierce market competition, the sales gap between different brands is continuing to widen, and the brand head effect is becoming more and more obvious.
trade-in may drive the scrapping and renewal of millions of cars
the relevant policies on car trade-in have already been transmitted to consumer terminals and have achieved significant results.
geng hongzhou, first-level inspector of the department of consumer promotion of the ministry of commerce, said at the 2024 teda auto forum that according to the latest data from the national auto trade-in platform, as of 10 a.m. on august 31, more than 800,000 applications for auto scrapping and renewal subsidies had been received. from january to july, 3.51 million scrapped cars were recycled nationwide, a year-on-year increase of 37.4%. especially after the implementation of the policy, the growth rate has accelerated, with increases of 55.6%, 72.9% and 93.7% from may to july respectively.
in march and august 2024, the country respectively issued the "action plan to promote large-scale equipment updates and consumer goods trade-in" and the "notice on further improving the work of automobile trade-in" (hereinafter referred to as the "notice"), which identified automobiles as a key support area for consumer goods trade-in, and proposed to organize nationwide automobile trade-in promotion activities and eliminate old cars that meet the mandatory scrapping standards in accordance with laws and regulations.
the "notice" mentioned that for individual consumers who meet the requirements of the "implementation rules for car trade-in subsidies" and scrap their old cars and purchase new cars, the subsidy standards will be increased from 10,000 yuan for purchasing new energy passenger cars and 7,000 yuan for purchasing fuel passenger cars to 20,000 yuan and 15,000 yuan respectively.
"the release of the policy is undoubtedly beneficial to the entire automotive industry chain." lang xuehong, deputy secretary-general of the china automobile dealers association, said in an interview with a beijing news shell finance reporter that raising the subsidy standard for scrapped and updated vehicles will bring greater stimulus. the policy was issued very timely and is expected to boost at least 1 million scrapped and updated vehicles, providing strong support for automobile consumption and the growth of the auto market in the second half of the year. at the same time, the "notice" requires that the time for fund disbursement be shortened, efforts be made to allow consumers to receive subsidies as soon as possible, and it will also promote local governments to accelerate the introduction of relevant policies for old-for-new.
after the release of the notice, qinghai, hubei, hunan, zhejiang, hainan, guangdong, sichuan, chongqing, shanghai, beijing and other provinces and cities have successively introduced policies on car replacement subsidies. lang xuehong said that recently, local governments have frequently issued replacement and renewal policies, among which guangdong has proposed a specific number of "striving to replace and update 143,000 vehicles in the province (excluding shenzhen)," which is a clearer replacement target than other places.
beijing news shell finance reporter noticed that with the accelerated promotion of the old-for-new policy in various places and the upcoming "golden september and silver october", many car companies have also quickly followed up and increased subsidies.
geely auto launched a limited-time discount in september, with models such as xingyue l and xingrui enjoying a maximum replacement subsidy of 47,000 yuan; saic-gm-wuling introduced the latest policies for models such as xingguang s, hongguang miniev, and bingo, with local subsidies ranging from 8,000 yuan to 23,000 yuan; polar fox automobile stated that with the addition of national subsidies, regional subsidies, corporate replacement subsidies, etc., purchases of the polar fox alpha s/t forest edition (including pro) can enjoy a maximum replacement subsidy of 100,000 yuan.
zhang bing, financial reporter of beijing news shell
edited by wei boya
proofread by zhao lin
