The sales of many car companies have increased significantly, why did new energy vehicles sell out in May?

The country is a through train

2024-06-03 19:15Published on the official account of China News Service "Guoshi Through Train" in Beijing

Text/Yin Qianyun

Increase! Increase! Increase!

Major mainstream car companies have successively disclosed their May report cards, and the sales and deliveries of new energy vehicles are gratifying. A series of favorable policies such as "trade-in" for automobiles have continued to be released, which has further stimulated the enthusiasm of the automobile market.

The sales and delivery volume of car companies have collectively increased significantly

In May, China's auto market rebounded significantly, and the sales and delivery data announced by a number of new energy vehicle companies achieved varying degrees of growth.

BYD, a new energy vehicle company, still maintains its lead, with sales of 331,800 new energy vehicles in May, 240,200 in the same period last year, and 313,200 in April, and a cumulative sales volume of 1,271,300 from January to May, a year-on-year increase of 26.8%.

In addition to BYD, SAIC Motor sold 81,000 new energy vehicles in May, while GAC Aion's global sales exceeded 40,000 units, reaching 40,073 units.

Among the three new car-making forces "Wei Xiaoli", Li Auto delivered 35,020 vehicles in May, a year-on-year increase of 23.8%, a significant rebound compared with previous months. NIO delivered 20,544 new vehicles in May, up 233.8% year-on-year and 31.5% month-on-month, a record high. Xpeng Motors delivered 10,146 new vehicles in May, an increase of 35.2% year-on-year and 8% month-on-month, and delivered more than 10,000 vehicles for the first time this year.

Deliveries also increased by Zeekr Automobile, which has just landed on the New York Stock Exchange, with 18,616 new vehicles delivered in May. Leapmotor, Deep Blue Automobile and Nezha Automobile also broke through the delivery line of 10,000 units that month, delivering 18,165, 14,371 and 10,113 vehicles respectively.

Following the first release of delivery data by AITO and Zhijie in April as the "Hongmeng Zhixing" brand, the latest monthly report card of Hongmeng Zhixing shows that 30,578 new cars were delivered in May. Yu Chengdong, chairman of Huawei's intelligent vehicle solution BU, recently said that after a product adjustment period in May, the replacement of main sales products led to a short-term decline in sales, and sales are expected to return to rapid growth in June.

The Xiaomi car, which has just been launched, is in the sprint for delivery. Lei Jun, executive chairman and founder of Xiaomi Group, revealed during the Guangdong-Hong Kong-Macao Greater Bay Area Auto Show that Xiaomi SU7 delivered 8,630 units in May, up from 7,058 units in April. In June, Xiaomi's auto plant will start double-shift production to ensure that more than 10,000 vehicles will be delivered that month.

Good news is frequent, and the car market or off-season in June is not light

Industry insiders believe that the sales and delivery volume of new energy vehicle companies in May are on the rise, which may be related to the recent favorable policies for the automobile market and the price preferential measures of automobile manufacturers.

Last week, the State Council issued the "2024-2025 Energy Conservation and Carbon Reduction Action Plan", which mentioned that it will accelerate the elimination of old motor vehicles and increase the access standards for energy consumption limits for commercial vehicles. Gradually lift restrictions on the purchase of new energy vehicles in various places. Implement support policies such as facilitating the passage of new energy vehicles. Promote the electrification of vehicles in the public sector, orderly promote new energy medium and heavy-duty trucks, and develop zero-emission freight fleets.

Earlier, in April, multiple departments jointly issued the "Action Plan for Promoting the Trade-in of Consumer Goods", and seven departments including the Ministry of Commerce subsequently jointly issued the "Implementation Rules for Automobile Trade-in Subsidy" to make specific arrangements for the scope and amount of subsidies for automobile trade-in, subsidy conditions, and subsidy fund management.

Today's latest news, the Ministry of Finance has issued 6.44 billion yuan of financial interest discounts and awards and subsidies in 2024 for the pre-allocation of central financial subsidy funds for car trade-in.

China Automobile Dealers Association analysis pointed out that from the Spring Festival after the consumer will pay attention to the trade-in policy, looking forward to the policy to bring benefits to the purchase of cars, so the implementation of the policy is a major benefit to the car market, is expected to reach the total annual scrap should reach nearly 10 million units, car trade-in subsidies for the car market private new car consumption will bring millions of increments, can also bring more than 100 billion yuan of annual consumption increment.

With the successive introduction of the new policy, many car companies in the market have responded positively, combined with the "trade-in" policy, and launched a variety of preferential and subsidy activities. Many places have also followed up with a series of measures such as car trade-in subsidies and the relaxation of purchase restrictions to fully release the potential of automobile consumption.

On May 31, Guangzhou optimized the regulation and control measures for passenger car indicators, and individuals with more than 72 cumulative lottery numbers can directly apply for ordinary car increment indicators. BAIC's "trade-in" subsidy policy was also implemented on the same day, with a maximum subsidy amount of 10,000 yuan.

The following June is the traditional off-season for the auto market, but the China Automobile Dealers Association expects that with the gradual implementation of the trade-in subsidy policy across the country, superimposed on the half-year assessment impulse of dealers, the auto market will stabilize as a whole in June, and the sales volume will be basically the same as in May, and is expected to show a slight growth trend.

Source: The country is a through train

Editor: Zhuge Ruixin

Editor-in-charge: Wei Xi

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