Huawei and Tesla launched a limited-time discount campaign, and Tesla China has a limited-time car purchase discount

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China Research Network

An overview of Huawei's limited-time offers with Tesla

1. Limited-time offer of Huawei's smart car solution

Preferential product: HUAWEI ADS (Qiankun Intelligent Driving) high-end function pack

Offer period: From 1 July 2024 to 31 December 2024

Privilege includes:

The standard price of one-time purchase has been adjusted from the original price of 36,000 yuan to 30,000 yuan, and the discount is 6,000 yuan for a limited time.

The price of the high-end intelligent driving package subscription (monthly and annual) remains unchanged, the monthly price is still 720 yuan/month, and the annual subscription price is 7200 yuan/year.

2. Tesla China's limited-time car purchase discount

Preferential models: Model 3/Y standard range version and long range all-wheel drive version

Promotion period: July 1, 2024 to July 31, 2024 (inclusive)

Privilege includes:

For the Model 3/Y standard endurance version, the 1~5 years 0 interest and low interest preferential car purchase policy is introduced, and the daily payment is as low as 85 yuan.

For the Model 3/Y long-range all-wheel drive version, the preferential policy of 1~5 years 0 interest and low interest purchase is launched, and the daily supply is as low as 107 yuan.

The annual interest rate of the limited-time low interest rate is reduced to 0.5% (equivalent to 0.93% per annum).

Upgrades such as official paintwork, 20-inch rims, EAP (Enhanced Autopilot Assistance) and FSD (Full Self-Driving Capability) are all included.

On June 30 and July 1, Huawei and Tesla respectively announced limited-time promotions for their smart car products. Huawei is attracting consumers by lowering the one-time purchase price of high-end intelligent driving feature packages, while Tesla is stimulating sales of the Model 3/Y by offering a five-year zero-interest and low-interest purchase policy. These promotions not only demonstrate the competitiveness of enterprises in the market, but also reflect the continuous efforts of the new energy vehicle industry to promote technological innovation and meet consumer needs.

According to the display released by the China Research Institute of Puhua Industry Research Institute:

A few days ago, the Passenger Association announced the sales of bicycles in May, and Tesla's Shanghai Gigafactory delivered a total of 45,359 Model Y and 27,214 Model 3 units in May. Among them, the Model Y sold 40,000 units in China, up 28.7% year-on-year and 52% month-on-month, while the new Model 3 sold 15,000 units in China, up 32.9% year-on-year.

In May, Tesla sold more than 55,000 vehicles in China, up 30% year-on-year and 77% month-on-month. However, the data shows that Tesla's Model Y sales in Europe suffered a heavy decline in May this year, falling 49% from the same period last year. Some analysts have pointed out that the reasons for the decline in Model Y sales may include multiple factors such as the cooling of European consumers' enthusiasm for electric vehicle purchases and the cancellation of electric vehicle subsidies in some countries.

Cinda Securities believes that a large-scale price war will start in the automotive industry in 2023, and the price war will continue in 2024, but the joint venture brands will accelerate their decline in terms of products, channels, and marketing, and their market share may be further concentrated in leading independent brands and new power brands. The Xiaomi SU7 equipped with the Xiaomi Intelligent Driving System performed well.

On July 1, according to Xiaomi Auto News, in June 2024, Xiaomi SU7 delivered more than 10,000 units, and the delivery volume in July will still exceed 10,000 units. According to the Northeast Securities Research Report, the intelligent driving market will usher in a double increase in the overall market size and penetration rate of automobiles.

According to IDC data, in 2021, the mainland shipped 13.7 million intelligent connected vehicles (cars with intelligent driving functions), with a penetration rate of 62.5%, and is expected to grow to 24.9 million units by 2025, with a penetration rate of 75% and an average annual compound growth rate of 16.1%. According to the research report of Guolian Securities, cars with high-speed NOA or ALC (automatic lane change assistance) functions are defined as L2+.

In 2023, the models represented by the Xpeng G6, Wenjie M7, and Ideal L series that can achieve high-speed and urban NOA will be launched in large quantities, and the sales proportion of L2 and L2+ models will increase rapidly, with L2 sales accounting for 32.75%; L2+ sales accounted for 5.98%, and L2 and above models accounted for 38.73%. The penetration rate of models with high-end intelligent driving functions represented by L2+ has entered the stage of 5%-30%, which is expected to usher in a rapid increase.

Rapid growth in industrial scale: In recent years, the scale of the intelligent networked vehicle industry has grown rapidly. For example, in 2021, the scale of China's intelligent networked vehicle industry exceeded 400 billion yuan, a year-on-year increase of 53.1%. Preliminary statistics show that the scale of China's intelligent networked vehicle industry has reached 597.5 billion yuan in 2022, while the market size of China's intelligent networked automobile industry in 2022 will be about 120.9 billion yuan, a year-on-year increase of 19.5%. It is expected that with the continuous advancement of technology and the continuous expansion of the market, the market size of the intelligent networked vehicle industry will continue to grow.

Steady growth in shipments: As consumers become more receptive to intelligent vehicles, shipments of intelligent and connected vehicles are also growing steadily. According to IDC data, China's intelligent connected vehicle shipments will increase from 13.7 million units in 2021 to 24.9 million units in 2025, with an average annual compound growth rate of 16.1%. The assembly rate of intelligent connected systems in the automotive industry is expected to reach the level of 83% by 2025, and the development space is very broad.

Rapid increase in penetration rate: The penetration rate of intelligent and connected vehicles is also increasing rapidly. According to CAICV data, the penetration rate of L2 vehicles in China's passenger car market in 2021 was 23.5%. By 2022, Continental will sell about 7 million new intelligent connected passenger cars equipped with assisted autonomous driving systems, with a market penetration rate of 34.9%. In the first half of 2023, the market penetration rate has further increased to 42.4%.

Maturity and expansion of the industrial chain: The intelligent networked vehicle industry has integrated multiple industries such as automobiles, electronic information, and transportation, forming a new industrial form. The industrial chain is developing rapidly, from the upstream key systems, the midstream intelligent cockpit and autonomous driving, to the downstream vehicle manufacturing, with rapid research and development, and rapid iteration. The continuous iteration of new technologies not only highlights the rapid development of intelligent networked vehicles, but also indicates the great changes in the future automotive industry.

Cross-border cooperation has become an important direction: The development of intelligent networked vehicles requires cross-border cooperation, including automobile manufacturers, technology companies, and communication operators. This cross-border cooperation will help promote the innovation and application of intelligent networked vehicle technology and accelerate the development of the industry.

Policy guidance and standard establishment: The strong support of the government and the introduction of a series of policies and standards have provided a good environment for the innovation and development of intelligent networked vehicles. Cities are vying to develop intelligent networked vehicles, and intelligent networked vehicles are regarded as an important guarantee for cities and towns to promote intelligent and fast transportation systems, as well as one of the core elements of building a green and low-carbon society.

The market development status of the intelligent networked automobile industry shows the characteristics of rapid growth of industrial scale, steady growth of shipments, rapid increase in penetration rate, maturity and expansion of the industrial chain, cross-border cooperation has become an important direction, and policy guidance and standard establishment. Together, these characteristics are driving the development of the intelligent networked vehicle industry.

First, the market scale continues to grow

Market Expansion: With the continuous advancement of technology and continuous policy support, the market size of intelligent networked vehicles will continue to expand. It is estimated that by 2025, the new output value of the mainland's intelligent networked vehicle industry will exceed 1 trillion yuan, and by 2030, this figure will grow to 2.8 trillion yuan. At the same time, the market size of application services for intelligent networked vehicles will also grow significantly, and is expected to exceed 200 billion yuan by 2025.

Increasing market penetration: The market penetration rate of intelligent and connected vehicles will continue to increase. As of December 2022, the penetration rate of intelligent connected passenger vehicles has reached 24.96%, and it is expected to continue to grow rapidly in the coming years. By 2025, the penetration rate of L2 and above intelligent driving systems is expected to exceed 50%, and by 2030, the penetration rate of L4 autonomous vehicles may reach 20%.

2. Technology integration and innovation

Intelligent, networked, and electrified at the same time: The development of intelligent networked vehicles will further promote the integration of intelligent, connected, and electrified technologies. Next-generation technologies such as artificial intelligence, 5G communication, and big data will continue to be applied to the field of intelligent networked vehicles, promoting the upgrading and iteration of Internet of Vehicles intelligent terminals and on-board intelligent modules.

Transformation of automotive electronic and electrical architecture: With the development of intelligence, networking, and electrification, the automotive electronic and electrical architecture will undergo profound changes. Transforming from a distributed architecture to a domain-centralized electronic and electrical architecture, the domain controller will integrate multiple electronic control unit functions, reduce the cost and development difficulty of the whole vehicle, and enhance the value of the product.

3. Policy support and improvement of laws and regulations

Policy support: The Chinese government attaches great importance to the development of ICVs, and has adopted a series of policy documents such as "Made in China 2025" and "New Energy Vehicle Industry Development Plan (2021-2035)" to clarify the development direction and goals of ICVs, and provide policy support and financial guidance.

Improvement of laws and regulations: With the continuous maturity and application of intelligent networked vehicle technology, the relevant regulations and standards will be gradually improved. The government will speed up the formulation of laws and regulations related to autonomous vehicles, clarify key issues such as accident liability, data privacy protection, and cybersecurity standards, and provide guarantees for the compliant development of intelligent networked vehicles.

Fourth, the coordinated development of the industrial chain

Industrial chain integration: The intelligent networked vehicle industry is a new industrial form with deep integration and technological innovation in the automobile, electronics, information and communication, road transportation and other industries. In the future, these industries will strengthen cooperation to jointly promote the development and application of intelligent networked vehicle technology.

Supply chain optimization: With the continuous expansion of the intelligent networked vehicle market, the supply chain system will also be continuously optimized. Suppliers will continue to improve their R&D capabilities and innovation systems to meet the requirements of intelligent networked vehicles for high performance, high reliability, and high safety.

5. Market application and commercialization

Application scenario expansion: Intelligent networked vehicles will be widely used in urban transportation, logistics and transportation, smart travel and other fields. Through the Internet of Vehicles technology, real-time information exchange and sharing between vehicles, vehicles and infrastructure, and vehicles and cloud servers can be realized, so as to improve the efficiency and safety of traffic operation.

Commercialization: With the continuous maturity of technology and the continuous expansion of the market, the commercialization of intelligent networked vehicles will be accelerated. New business models such as self-driving taxis, intelligent logistics vehicles, and intelligent networked buses will continue to emerge to provide consumers with more convenient and efficient travel services.

The future development trend of the ICV industry market will be characterized by continuous growth of market scale, technology integration and innovation, policy support and improvement of regulations, coordinated development of the industrial chain, and acceleration of market application and commercialization. Together, these trends will drive the ICV industry to a higher level.

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