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the seemingly prosperous new forces are actually having a hard time, with nio still leading the way in losses

2024-09-07

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it is undeniable that with the increasing acceptance of new energy vehicles by domestic consumers and the influence of a series of favorable policies, domestic new car companies have made great breakthroughs in sales in the past two years.

especially after 2024, the sales of new car manufacturers have soared. judging from the sales data released by car companies every month, the increase is also very obvious.

in a blink of an eye, 2024 has entered the third quarter. what is the actual situation of the new forces in the past first half of the year? it just so happens that in recent times, new forces in the automotive industry have successively announced their financial reports for the first half of the year. next, we will analyze the current situation of the new forces based on the official financial report data.

the first thing to talk about is ideal auto, because ideal auto is not only the best-selling car company among the new car-making forces, but also a new car-making force that has achieved profitability in 2023.

in the first half of this year, ideal auto's total revenue was 57.3 billion yuan, a year-on-year increase of 20.8%. although its net profit fell by 7.5% year-on-year, it still made a profit of 1.7 billion yuan.

as for sales, ideal auto delivered 189,000 vehicles in the first half of the year, a year-on-year increase of 35.8%.

as of now, ideal auto is still the only profitable car company among the few new car-making forces that have been listed.

next is zeekr auto, with total revenue of 34.8 billion yuan in the first half of the year, a year-on-year increase of 63%. although zeekr auto's revenue increased significantly, it is still in a loss-making state, with a net profit of -3.8 billion yuan in the first half of the year, a slight narrowing year-on-year.

in terms of sales, zeekr motors also performed well, with deliveries reaching 87,900 units in the first half of the year, a year-on-year increase of 106.1%.

it is worth mentioning that zeekr auto successfully listed on the new york stock exchange in may this year. the second quarter financial report data showed that zeekr auto has turned losses into profits.

judging from the current development of zeekr auto, it is very likely that it will "go ashore" before nio and xpeng.

next is nio, with total revenue of 27.4 billion yuan in the first half of the year, a year-on-year increase of 40.6%. needless to say, you can guess that nio, known as the "king of losses", still made a loss in the first half of the year, with a net profit of -10.2 billion yuan, but it narrowed by 5% compared with the same period last year.

in terms of sales, nio delivered a total of 87,400 vehicles in the first half of the year, a year-on-year increase of 25.5%.

it is obvious that compared with zeekr auto, nio has been at a disadvantage in terms of total revenue and delivery volume in the first half of this year.

with a loss of over 10 billion yuan, nio still ranks first in losses among new car manufacturers.

next is xpeng motors, which had a total revenue of 14.7 billion yuan in the first half of the year, a year-on-year increase of 61.2%. its net profit was -2.65 billion yuan, a year-on-year decrease of 47.1%.

although the loss situation has eased, xpeng motors' sales in the first half of the year were not ideal, with deliveries of 52,000 vehicles, a year-on-year increase of 25.6%.

on the contrary, leapmotor, which is not as well-known as xpeng, had an impressive sales performance in the first half of the year, with cumulative deliveries of 86,700 vehicles, a year-on-year increase of 94.8%.

however, due to the low overall selling price of leapmotor, the total revenue was only 8.9 billion yuan, a year-on-year increase of 52.2%. the net profit was -2.2 billion yuan, a year-on-year decrease of 2.8%.

it should be noted that in the past august, leapmotor’s monthly sales exceeded 30,000 units in one fell swoop, successfully ranking among the top three new car-making forces in sales, with a strong momentum.

as of now, nezha auto has not yet released its first half financial report. the latest news is that nezha auto cfo chen rui has resigned and his position has been replaced by pan deng, former managing director of goldman sachs (asia). it is speculated that nezha auto’s personnel adjustment is mainly to prepare for the ipo.

as for the highly popular xiaomi automobile, after its first model, xiaomi su7, was launched at the end of march, its net profit in the second quarter was -1.8 billion yuan, equivalent to a loss of more than 60,000 yuan for each car sold.

as for seres automotive, which is backed by huawei, its financial report for the first half of the year was perfect. its total revenue was 65.044 billion yuan, a year-on-year increase of 489.58%. its net profit was 1.625 billion yuan.

in terms of revenue, seres far exceeds ideal auto, and its net profit is slightly less than ideal auto.

in terms of sales, in the first half of the year, seres delivered more than 200,000 vehicles, a year-on-year increase of 349%.

in summary, although the new car-making forces shouted louder slogans in the first half of the year, in fact, only ideal and seres are doing relatively well. other car companies are still struggling on the edge of "life and death".

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