the "old-for-new" policy boosts automobile consumption, and sales of traditional car companies surged in september
2024-10-03
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red star capital bureau reported on october 3 that in early october, car companies successively announced september sales. driven by the "old-for-new" policy, new energy vehicles have generally experienced sales growth, and many new car manufacturers have reached new monthly delivery highs (for details, see red star news "xpeng, ideal, and ji krypton's sales hit new highs in september, and xpeng mona m03 delivered over 10,000 units”).
sales of traditional car companies are also booming, especially new energy vehicles. byd (002594.sz) sales exceeded 400,000 vehicles for the first time, geely automobile (00175.hk) sales exceeded 200,000 vehicles, great wall motors (601633.sh) new energy sales exceeded 30,000 vehicles, and chery new energy sales exceeded 50,000 vehicles, saic motor (600104.sh) sold nearly 130,000 new energy vehicles.
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byd and geely's annual sales target completion rate exceeds 70%
byd's sales in september were 419,400 vehicles, a year-on-year increase of 35.97% and a month-on-month increase of 12.42%; cumulative sales from january to september reached 2.7479 million vehicles, a year-on-year increase of 32.13%.
byd's previous sales target for 2024 is to "maintain a growth of more than 20% on the basis of 3.02 million vehicles in 2023", which is more than 3.624 million vehicles. at present, byd has completed 75.8%. byd's sales in the fourth quarter only need to reach 876,100 vehicles to achieve its target. according to the growth trend in september, byd may be able to complete it ahead of schedule.
in terms of brands, byd automobile dynasty and haiyang sold 401,600 units in september, a year-on-year increase of 46.7%; fangbao automobile sold 5,422 units; denza automobile sold 10,300 units; and yangwang automobile sold 310 units. in terms of exports, byd sold 33,012 passenger cars overseas, a year-on-year increase of 17.7%.
geely automobile sold 202,000 vehicles in september, a year-on-year increase of approximately 21%, and a month-on-month increase of more than 11%; cumulative sales from january to september were 1.49 million vehicles, a year-on-year increase of 32%. geely had previously raised its sales target to 2 million vehicles in 2024, and 74.5% has been completed.
geely new energy's sales in september were 91,000 vehicles, a year-on-year increase of 76%, and a month-on-month increase of over 20%; cumulative sales from january to september were 545,900 vehicles, a year-on-year increase of over 93%. geely exported 39,000 vehicles overseas in september, a year-on-year increase of over 51%; cumulative sales from january to september were 314,000 vehicles, a year-on-year increase of over 68%.
in terms of brands, geely brand sales in september were 154,800 vehicles, a year-on-year increase of more than 16%, and a month-on-month increase of more than 10%; cumulative sales from january to september were 1.151 million vehicles, a year-on-year increase of 27%.
the lynk & co brand sold 25,800 vehicles in september, a year-on-year increase of more than 18% and a month-on-month increase of approximately 15%; cumulative sales from january to september were 195,600 vehicles, a year-on-year increase of approximately 40%. among them, new energy models sold 17,400 units in september, accounting for over 67%.
the zk brand (zk.us) delivered 21,300 vehicles in september, a record high in single-month delivery, a year-on-year increase of 77% and a month-on-month increase of 18%. from january to september, a total of 142,900 vehicles were delivered, a year-on-year increase of 81%.
great wall’s sales of models priced at more than rmb 200,000 account for nearly 25%
chery new energy sales increased by 186% year-on-year
great wall motors' sales in september were 108,400 vehicles, a year-on-year decrease of 10.88% and a month-on-month increase of 14.75%; the cumulative sales from january to september were 853,800 vehicles, a year-on-year decrease of 1.18%. among them, the sales volume of new energy vehicles was 30,100 units, a year-on-year increase of 37.6%, and a month-on-month increase of 21.27%; cumulative sales from january to september were 211,500 units, a year-on-year increase of 24.15%. great wall motors sold 324,000 vehicles overseas from january to september, a year-on-year increase of 53.16%.
the sales proportion of great wall motor's mid-to-high-end products continues to increase. from january to september, 212,000 models with a price tag of over rmb 200,000 were sold, a year-on-year increase of 38.72%, accounting for 24.8% of total sales.
broken down by brand, the haval brand sold 62,900 vehicles in september, down 14.73% year-on-year and up 12% month-on-month. cumulative sales from january to september were 471,700 vehicles, down 4.87% year-on-year. wei brand sales in september were 6,755 vehicles, a year-on-year increase of 165.11% and a month-on-month increase of 125.1%; cumulative sales from january to september were 32,400 vehicles, a year-on-year decrease of 1.16%. among them, wei brand's new blue mountain sold 6,108 units in september, a year-on-year increase of 201.48%. the tank brand sold 18,700 units in september, a year-on-year increase of 3.8% and a month-on-month increase of 14.62%; the cumulative sales from january to september were 169,800 units, a year-on-year increase of 62.43%. great wall pickup truck sales in september were 14,500 units, down 15.94% year-on-year, and up 5.4% month-on-month; cumulative sales from january to september were 132,000 units, down 13.46% year-on-year. the euler brand sold 5,486 vehicles in september, down 45.25% year-on-year and up 6.5% month-on-month. cumulative sales from january to september were 47,000 vehicles, down 39.25% year-on-year.
chery group sold 244,500 vehicles in september, a year-on-year increase of 28.6%. among them, 109,000 were exported, a year-on-year increase of 20.6%; 58,900 new energy vehicles were sold, a year-on-year increase of 183.4%. from january to september, chery group’s cumulative sales volume was 1.7528 million vehicles, a year-on-year increase of 39.9%. among them, 829,400 were exported, a year-on-year increase of 24.5%; new energy vehicle sales were 331,800, a year-on-year increase of 186.4%.
in terms of brands, the chery brand sold 151,000 vehicles in september, and the cumulative sales from january to september were 1.114 million vehicles, a year-on-year increase of 33.1%; the xingtu brand sold 15,700 vehicles in september, and the cumulative sales from january to september were 95,900 vehicles, a year-on-year increase 18.1%; jietu brand sold 60,000 vehicles in september, with cumulative sales of 376,700 vehicles from january to september, a year-on-year increase of 94.1%; icar brand sold 5,180 vehicles in september, with cumulative sales of 42,800 vehicles since its launch seven months ago.
according to preliminary statistics from saic group, sales of new energy vehicles exceeded 129,000 units in september, a year-on-year increase of approximately 38%; cumulative sales from january to september were 748,000 new energy vehicles, a year-on-year increase of approximately 15%.
"trade old for new"
various localities implement car replacement subsidy policies
the "old-for-new" policy is considered an important driving force for the growth of car sales in september. across the country, car replacement subsidy policies have been introduced and implemented, and car companies have also launched relevant promotional activities to further stimulate consumer enthusiasm.
according to the national automobile scrappage subsidy policy, those who scrap old cars that meet the standards and purchase new energy passenger cars will receive a subsidy increased from 10,000 yuan to 20,000 yuan; those who scrap old cars that meet the standards and purchase fuel-powered passenger cars with a displacement of 2.0 liters and below for those who use a car, the original subsidy will be increased from 7,000 yuan to 15,000 yuan.
according to data from the ministry of commerce, as of september 25, the cumulative number of registered users of the automobile "trade-in" information platform exceeded 1.68 million, and more than 1.13 million applications for automobile scrappage renewal subsidies were received. from january to august, the national scrapped vehicle recycling volume increased by 42.4% year-on-year. especially from may to august since the implementation of the scrapping renewal subsidy policy, the year-on-year growth rates reached 55.6%, 72.9%, 93.7% and 73.8% respectively.
statistics from the china automobile dealers association show that in the first three weeks of september, 1.243 million passenger cars were sold nationwide, an increase of 10% over the same period last year and an increase of 10% over the first three weeks of august; of which 664,000 new energy passenger cars were sold. vehicles, an increase of 47% over the same period last year and an increase of 7% over the first three weeks of august.
the china association of automobile manufacturers analyzed that with the steady advancement of vehicle scrapping and renewal policies and local trade-in policies for old ones, superimposed local replacement and renewal subsidy policies have gradually come into effect, which is expected to promote the automobile market in the next four months. the china automobile association predicts that based on last year's 26 million passenger car sales, approximately 10 million passenger car sales this year will come from "trade-in" sales.
red star news reporter wu danruo
edited by yang cheng
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