At the beginning of July, major new energy vehicle manufacturers have announced sales data for June 2024 and the first half of the year, further revealing the hot new energy vehicle market.
1. Traditional car companies
1. BYD is firmly in the lead, with sales of 1.61 million vehicles
According to BYD's announcement on the Hong Kong Stock Exchange on July 1, BYD's new energy vehicle sales in June 2024 exceeded 300,000 again, reaching 341,700 units, a year-on-year increase of 30.02%, and sales exceeded 300,000 units for the fourth consecutive month. Specifically, 145,200 pure electric vehicles and 195,000 plug-in hybrid vehicles were sold.
In the first half of 2024, BYD's cumulative sales reached 1.613 million units, a year-on-year increase of 28.46%. Among them, the sales volume of pure electric vehicles was 726,200, a year-on-year increase of 17.73%; The sales of plug-in hybrid models were 881,000 units, a year-on-year increase of 39.54%.
In May this year, BYD released the latest plug-in hybrid technology fifth-generation DM-i dual-mode hybrid system, achieving a fuel consumption of 2.9 liters / 100 kilometers and a mileage of 2,000 kilometers with full fuel and full power, continuing to refresh and reduce the level of automobile fuel consumption, which is expected to become an important driver of BYD's future performance growth.
However, the sales volume of 1.61 million units is still a challenge compared to BYD's annual sales target of 3.6 million units.
2. SAIC Motor sold 460,000 new energy vehicles
According to the data released by SAIC, in June 2024, SAIC sold more than 93,000 new energy vehicles, and the cumulative sales of new energy vehicles in the first half of the year exceeded 460,000, a year-on-year increase of 24%.
In comparison, SAIC Motor sold 81,000 new energy vehicles in May this year and 365,000 new energy vehicles from January to May, a year-on-year increase of more than 27%. In June last year, SAIC sold 86,000 new energy vehicles.
Among them, SAIC's Zhiji Auto (a high-end smart electric vehicle brand jointly invested by SAIC, Zhangjiang Hi-Tech and Alibaba) sold 60,000 units in June, up 41% month-on-month and 200% year-on-year. With a total of 23,200 units delivered in the first half of the year, Zhiji Auto has set a sales target of 120,000 units in 2024, a 19.4% achievement in the first half of the year.
3. Geely raised its annual target to 320,000 new energy vehicles
On July 1, Geely Automobile announced its sales data for June, with Geely Automobile selling 166,100 units, a year-on-year increase of more than 24%; Among them, the sales of new energy vehicles increased by 88% year-on-year to 66,000 units, a record high, accounting for nearly 40% of the total sales.
In the first half of 2024, Geely Automobile's cumulative sales volume will be 955,700 units, a year-on-year increase of 41%; Among them, the sales of new energy vehicles were 320,200, a year-on-year increase of 117%, a record high.
Based on this strong performance, Geely Automobile has decided to raise its full-year sales target by about 5% from 1.9 million units to 2 million units.
4. Changan Automobile, with sales of 300,000 new energy vehicles
According to the evening of July 1, Changan Automobile's production and sales report. In the first half of 2024, the cumulative sales of Changan Automobile's own brand new energy vehicles will reach 299,000 units, a year-on-year increase of more than 69%. In June, Changan Automobile's new energy sales reached 64,000 units, a year-on-year increase of more than 61%. Among them, Changan Qiyuan delivered 72,968 vehicles from January to June, Changan Deep Blue delivered 83,858 vehicles from January to June, and AVATR delivered 29,030 vehicles from January to June. According to the new energy sales target given by Changan Automobile at the beginning of the year, it is 750,000 units. Judging from the current data, Chang'an still faces certain challenges.
5. Great Wall Motors, with new energy sales of 130,000 units
On July 1, according to the production and sales report released by Great Wall Motor, the sales volume in June this year was 98,100 units, a year-on-year decrease of 6.55%. Among them, 26,100 new energy vehicles were sold, and 38,100 were sold in overseas markets.
In the first half of the year, Great Wall Motors sold a total of 559,700 units, a year-on-year increase of 7.79%. Among them, the sales of new energy vehicles were 132,400, a significant increase of 41.99% year-on-year, and the sales of overseas markets were 201,500, a year-on-year increase of 62.59%.
In June, Great Wall's performance was relatively weak, but throughout the first half of the year, sales of new energy vehicles and overseas markets were strong. According to Great Wall Motors, in the first half of this year, Great Wall Motors won the first place in the sales of hard-core off-road vehicles, the first sales volume of off-road new energy models, and the first sales volume of pickup truck models, and overseas sales also created a record high.
6. Chery Group, with sales of 180,900 new energy vehicles
On July 2, Chery Holding Group released a sales report. According to the sales report, in June, the group's sales of cars reached 200,400 (200412), a year-on-year increase of 38%. Exports totaled 97,000 units, reflecting a 22.7% y/y increase. The sales volume of new energy vehicles was 44,800 units, a year-on-year increase of 230.6%.
From January to June, the Group's cumulative sales of automobiles exceeded 1.1 million (1100621), a year-on-year increase of 48.4%, and the semi-annual sales exceeded one million units for the first time, creating a record high. In the first half of the year, a total of 180,900 new energy vehicles were sold, a year-on-year increase of 181.5%. In the first half of the year, a total of 532,100 vehicles were exported, reflecting a 29.4% y/y increase.
In the new energy market, in the first half of the year, Chery launched blockbuster models such as Fengyun A8, iCAR 03, Jietu Shanhai T2, Fengyun T9, Xingji ET, Xingtu Yaoguang C-DM, Exploration 06 C-DM, and Xinzhijie S7 (a cooperative brand between Huawei Zhixuan and Chery), covering plug-in hybrid, pure electric, extended range and other powertrains.
Second, the new power brand
1. Li Auto, delivered 188,900 vehicles
Li Auto still ranked first in the list of new car deliveries in June. In June, Li Auto delivered about 47,800 new vehicles, a year-on-year increase of 46.7%. From January to June this year, Li Auto delivered a total of 188,900 new vehicles (188981 units). As of June 30 this year, Li Auto has delivered a total of 822,300 vehicles, ranking first among China's new power brands.
Li Xiang, chairman and CEO of Li Auto, revealed, "In June, the sales potential of the Ideal L series continued to increase, and the monthly delivery volume of the Ideal L successfully exceeded 20,000 units, and the monthly delivery volume of all products exceeded 40,000 units. Since the second quarter, under the dual effect of the launch of the new model Ideal L6 and the improvement of store efficiency, Li Auto has returned to the top of China's new power brand sales list, and won the sales championship of Chinese auto brands in the new energy vehicle market of more than 200,000 yuan. ”
2. NIO, delivered 87,400 vehicles
On July 1, NIO officially released data that a total of 21,200 new vehicles were delivered in June, a year-on-year increase of 98%, a record high; In the second quarter of 2024, NIO delivered 57,300 new vehicles, exceeding the delivery guidance and increasing by 143.9% year-on-year. In the first half of 2024, NIO delivered a total of 87,400 new vehicles, a year-on-year increase of 60.2%. As of June 30, NIO has delivered a total of 53.70 new vehicles.
In the "2024 China New Energy Vehicle New Vehicle Quality Study" released by consumer insight and market research institute J.D. Power on June 6, NIO ES8 ranked first in the luxury pure electric vehicle market, and NIO ET5/ET5T ranked first in the mid-size pure electric car market
Some analysts believe that factors such as the recognition of product strength, the expansion effect brought by the battery swap alliance, the help brought by the BaaS policy, and the live broadcast of Li Bin, chairman of NIO, have made more people understand and recognize NIO, are important reasons for NIO's delivery volume to reach a new high.
3. Xpeng Motors, delivered 52,000 vehicles
According to the latest delivery results announced by Xpeng Motors on July 1. In June 2024, Xpeng delivered a total of 10,700 (10,668) new vehicles, up 24% year-on-year and 5% month-on-month. Among them, Xpeng X9 "Nine Crowns" delivered 1,687 units. A total of 13,100 units were delivered in the first half of the year after its launch, continuing to lead the market of pure electric MPV and pure electric three-row seat models. From January to June this year, Xpeng Motors delivered a total of 52,000 new vehicles, a year-on-year increase of 26%.
In June this year, Xpeng Motors entered the Egyptian market and released the Xpeng G9 and Xpeng P7, becoming the first Chinese smart pure electric vehicle brand to launch pure electric products in the Egyptian and African markets. In addition, in the third quarter of this year, the AI Dimensity system will usher in a blockbuster OTA and be officially launched overseas.
4. Hongmeng Zhixing, delivered 194,200 vehicles
According to the data released by Hongmeng Zhixing on July 1, in the first half of 2024, a total of 194,200 vehicles (194,207 units) of Hongmeng Zhixing were delivered, ranking first among China's new power brands in the first half of the year.
In June, Hongmeng Zhixing delivered 46,100 vehicles. Among them, 17,241 M9 units were delivered in June, with a total of more than 100,000 units, and the sales volume of models with more than 500,000 units ranked first. The M7 delivered 18,493 units in June, with cumulative sales exceeding 110,000 in the first half of the year, ranking first in sales of new power models and second in luxury models in China. Wenjie M5 delivered 7,046 vehicles in June, and the cumulative delivery of more than 10,000 vehicles on the market; The Zhijie S7 delivered 2,995 units in June.
According to the announcement of Hongmeng Zhixing, the first executive-level luxury flagship sedan Xiangjie S9 has been opened for pre-order, with a pre-sale price of 45-550,000 yuan, and will be officially released in August this year.
5. Sailis and AITO delivered 100,800 vehicles
According to the data of Cialis, the sales volume of new energy vehicles in June reached 44,100, a year-on-year increase of 372.04%; From January to June this year, the cumulative sales of new energy vehicles exceeded 200,000 units (200,949), a year-on-year increase of 348.55%. (Thalys's main products include AITO Wenjie series of high-end new energy vehicles, blue electric new energy vehicles, Ruichi electric commercial vehicles, wind and solar SUVs, etc.)
Among them, the monthly delivery of the AITO Wenjie series exceeded 40,000 in June, reaching 42,800 units, a record high, and an increase of 654.76% from 5,668 units in the same period last year. From January to June 2024, the cumulative delivery volume of AITO Wenjie is 100,800 units.
6. Xiaomi Automobile, with a delivery volume of more than 25,600 units
On July 1, Xiaomi Auto issued a document saying that it delivered more than 10,000 vehicles in June, and it is expected that the delivery volume in July will remain above 10,000 units. The Xiaomi SU7 was officially launched on March 28, and deliveries began in early April. According to data previously released by Xiaomi Auto, 7,058 vehicles were delivered in April and 8,630 vehicles were delivered in May. Overall, Xiaomi has delivered more than 25,600 vehicles since its launch.
Xiaomi is currently continuing to expand production capacity, and Lei Jun has previously promised to deliver at least 100,000 vehicles in 2024 and strive to achieve the goal of 120,000 units.
7. Leapmotor, with 86,600 units delivered
On the evening of July 1, Leapmotor announced the latest delivery data, which showed that 20,100 new cars were delivered in June 2024 (20116), entering the "20,000 club" for the first time and hitting a record high, with a year-on-year increase of 52.3% and a month-on-month increase of 10.7%. So far, the cumulative delivery volume of Leapmotor in the first half of the year has reached 86,600 units (86,696), ranking firmly in the head camp of all new energy brands in the Chinese market and the first echelon of new forces.
It is reported that on June 28, Leapmotor launched the 6-seater SUV Leapmotor C16, with a guide price of 155,800 yuan to 185,800 yuan. Leap C16 was on the market for 48 hours, and Dading reached 5,208 units. Leapmotor said that with the addition of the C16 to the product matrix, Leapmotor stands at a new starting point to start the second half of the year.
8. Nezha Automobile, delivered 53,700 vehicles
On the evening of July 1, Nezha Automobile issued a document saying that 10,206 new cars were delivered in June, and the Nezha L pure electric version will be delivered in July, with a price starting at 139,900 yuan. Based on previous data, a total of 53,700 units were delivered from January to June 2024, a decrease of 1,700 units from the same period in 2023.
According to Nezha Automobile, in terms of overseas sales, Nezha Automobile continues to rise, data shows that from January to May 2024, Nezha Automobile exported 16,458 new energy vehicles, ranking first in the export volume of new power car companies.
On June 26, Nezha Automobile's parent company, Hezhong New Energy Automobile Co., Ltd., also submitted a listing application to the Hong Kong Stock Exchange, which is expected to become the fifth new power car company listed in Hong Kong after Weilai, Xiaopeng, Ideal and Leap. According to Nezha Automobile's prospectus, while continuing to cultivate the Southeast Asian market, it also plans to continue to vigorously develop Latin America, the Middle East and Africa in the future, and then expand to Europe in due course.
Judging from the results of the first half of the year, this year's new energy vehicles continue to be hot, among which BYD still maintains its leading position. Geely Automobile also has a good performance in the field of new energy. In terms of new power brands, Hongmeng Zhixing won the sales crown; In the first half of the year, Xiaomi Automobile, which was just launched, also performed well. Looking forward to the second half of 2024, car companies may have some new models coming out to drive sales in the second half of the year.
The Federation of Passenger Cars said that driven by the dual drive of new product launch and price reduction, the market size of new energy vehicles will continue to grow steadily, and the penetration rate is expected to hit a record high.