Author | Fan Zhilin
Source | Financial Think Tank (ID:jinrongo2o)
In February, the sales data of many auto giants was finally released, and it was surprising that BYD successfully won the first place in the industry!
BYD won the first place
On March 3, BYD disclosed its production and sales report for February 2022.
According to the announcement, BYD's sales of new energy vehicles in February 2022 were 88,000 units, up 7 times from 10,000 units in February 2021!
In addition, in addition to new energy vehicles, FUEL VEHICLE BYD is also involved, with sales of 2,795 units in February, and the total sales of new energy vehicles and fuel vehicles totaling 91,000 units, an increase of more than 4 times year-on-year!
BYD's sales data, in all aspects of the year-on-year growth is extremely eye-catching, but to know how rare this data is, you have to compare it with your peers to know.
BYD is a domestic new energy vehicle giant, the main business is the passenger car in the new energy vehicle, how is this data in the industry?
According to public data, several giants in the field of domestic new energy vehicles have seen a decline in sales in February, but the year-on-year increase is higher.
Among them, Xiaopeng Automobile delivered 6225 units in February, an increase of 180% year-on-year and 51.5% month-on-month; ideal automobile delivery reached 8414 units in February, an increase of 265.8% year-on-year, down 45.8% month-on-month; WEILAI delivered 6131 vehicles in February, an increase of only 9.91% year-on-year, down 57.42% month-on-month.
Several giants of domestic new energy vehicles, Ideal, Xiaopeng and Weilai did not deliver more than 10,000 vehicles in February, even if the year-on-year increase is higher, but in contrast, BYD New Energy's sales of 88,000 vehicles are simply industry giants, absolutely the first in the industry!
Purely in terms of sales, ideals, Xiaopeng and Weilai are difficult to shake BYD's leading position.
In addition, although new energy vehicles are emerging tracks, the traditional fuel vehicle industry has not withdrawn from this, and the sales of fuel vehicles in the market are still very large.
In the case of the traditional fuel vehicle giant SAIC Motor Group, SAIC Volkswagen sold 90,600 units in February, an increase of 79.41% year-on-year, and traditional fuel vehicles are not to be outdone.
However, BYD's sales of new energy vehicles have reached 88,000 units, which is not much different from 90,600 units, and it already has the strength to directly challenge traditional fuel vehicles.
It is worth mentioning that why the sales of major car companies have declined month-on-month?
In fact, February 2022 is a relatively special month, the month is only 28 days, and February 1 coincides with the Lunar New Year's Day of the Lunar New Year, from February 1 to February 6 is the Spring Festival holiday, which in disguise leads to the effective time of February shortened to 22 days, which is significantly less than the 31 days in January.
As a result, major car companies sold higher sales in January, but sales in February all fell month-on-month, with BYD's sales of 100,000 units in January and a decline of about 12% in February.
In the case of a decline in sales of all car companies, the sales volume of BYD New Energy is already absolutely eye-catching.
A few days ago, Wang Chuanfu, chairman of BYD, said that the electric vehicle products provided by Chinese car companies have surpassed traditional fuel vehicles in terms of performance and cost of use.
Wang Chuanfu predicts that the sales of new energy vehicles in the Chinese market are expected to exceed 3.3 million units in 2022, and by the end of 2022, the penetration rate of new energy vehicles in China will exceed 35%.
In this huge market, BYD has completely occupied the initiative!
Why BYD is successful
In January 2022, according to data from the China Association of Passenger Vehicles, IND firmly occupied the top spot with sales of 93,000 new energy vehicles, with a market share of 22.3%.
In the field of new energy vehicles, Xiaopeng, Ideal, weilai are difficult to compete with, if in accordance with the trend of "stronger and stronger" trends in the development of enterprises, BYD's future market share in the field of new energy vehicles may even reach 40%, becoming the absolute leader!
In 2020 and 2021, new energy vehicles will become the hottest track in the A-share market, and all enterprises in the field of new energy vehicles will be greatly sought after by capital.
However, the same new energy vehicle force, why can BYD thrive?
BYD's other new energy vehicle forces have many differences, as the earliest batch of enterprises to enter the field of new energy vehicles, BYD's industrial chain is very perfect, with absolute advantages.
For example, in the upstream automotive chip field, BYD has begun to enter this field around 2007, because the process required for automotive chips is backward than mobile phone chips, so it has not been too restricted, BYD soon achieved mass production of automotive chips.
Today, BYD's automotive chip business has transformed into BYD Electronics and is seeking to spin off and list.
In addition, BYD started from the new energy battery, from the earliest nickel-cadmium battery, to the current lithium battery, sodium-ion battery, ETC, BYD has the corresponding technical strength.
Today, in the field of new energy vehicle batteries, CATL occupies about half of the market share, the first in the industry, and BYD also occupies about 22% of the market share, ranking second in the industry.
It can be said that in the two major fields of automotive chips and new energy vehicle batteries upstream of new energy vehicles, BYD is one of the leaders in the industry.
With the advantages of the upstream and then entering the downstream new energy vehicle manufacturing, BYD has natural advantages in cost, scale and industrial chain, and the development is naturally faster than other new energy vehicle forces.
For example, ideal, Xiaopeng, Weilai and other auto forces, the vast majority of the batteries needed to manufacture new energy vehicles are purchased from the Ningde era.
However, before the Ningde era was exposed, because there were too many customers seeking power batteries, Zeng Yuqun let many customers sign some "overlord clauses", forced to increase the proportion of the first installment and the deposit, etc., making many car companies miserable.
To this end, while being forced to accept the "overlord clause", a number of car companies not only began to support other new energy vehicle battery manufacturers, but also prepared to develop their own new energy vehicle batteries as ideal.
It can be seen that in the upstream battery field, car companies have been greatly restricted by the Ningde era, and the scale of mass production is naturally limited.
BYD can supply itself, without worrying about the problem of battery outage, which is a big advantage.
From the perspective of the quality of new energy vehicles, BYD is also second to none in the industry.
The quality is the most spoken of by the customer.
BYD new energy vehicles are not only sold in China, but also sold internationally, and even the price abroad is more than 100,000 more expensive than in China.
However, even if it is more than 100,000 yuan, BYD's sales overseas have grown rapidly.
According to data from the General Administration of Customs, BYD exported a total of 15,180 vehicles of various types in 2021, an increase of 230.94% year-on-year.
Therefore, from the perspective of foreign customer group acceptance, BYD is not only recognized by domestic consumers, but also successfully recognized by foreign consumers, and its sales overseas in 2022 have the opportunity to increase significantly.
Whole industry chain model
BYD's success has great inspiration for the current Chinese manufacturing industry, because BYD has almost taken the "whole industry chain model".
In the field of new energy vehicles, the three most critical nodes are car chips, car batteries, and vehicle manufacturing, and BYD has taken down these three nodes and successfully become the first or second in the industry, naturally no other new energy vehicle forces can compete.
Even the international giant Tesla, in February 2022, the sales volume in China was only 29,000 vehicles, and BYD's sales were 3 times that of Tesla!
Although BYD's current business is mainly focused on automotive chips, automotive batteries, and vehicle manufacturing, it does not mean that BYD has not continued to expand in the industrial chain.
For example, according to the data, BYD's cumulative sales have exceeded 1.5 million, that is, BYD has 1.5 million new energy vehicles in China, which need repair and maintenance.
With the increasing sales of BYD in the future and more and more domestic BYD cars, even the repair and maintenance business of BYD cars has the opportunity to become a very profitable business.
In addition, there are infrastructure such as charging piles, which is the "gas station" of new energy vehicles, and BYD is naturally accelerating the layout.
The latest stock price shows that BYD's total market value is 680.6 billion yuan, ranking first in the industry!
In the future, we may really see the emergence of a BYD with the production capacity of the whole industry chain in the field of new energy vehicles, which may become a super giant made in China!
The independent development of the whole industrial chain and the ability to supply independently are crucial for a country's manufacturing industry.
At present, in the field of mobile phone manufacturing, the upstream chip is very seriously restricted, and once the supply is cut off, the mobile phone cannot be produced!
The same is true in the medical field, where domestic medical devices are heavily dependent on Japan.
In addition, to the most common "seed" - white feather chicken, white feather chicken breeder is also in 2021 real research and development mass production success, and kicked off the American company, the price of white feather chicken to reduce.
Made in China, we should be like BYD, have the courage to break through to the whole industrial chain, open up all the upstream and downstream that are limited by people, and truly become China's intelligent manufacturing!
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