The "report card" of new energy vehicles in June was released: the sales of many car companies were refreshed

Financial Investment News reporter Liu Min

On July 2, a number of new energy vehicle companies disclosed their sales volume for June 2024 and the first half of 2024. According to the data released by the China Passenger Car Association, in June, the retail scale of new energy passenger vehicles in China is expected to reach 860,000 units, an increase of 6.9% month-on-month and 32.7% year-on-year, and the penetration rate is expected to increase to 49.1%.

The reporter of the Financial Investment News noticed that with the implementation of the "trade-in" policy in various places, the sales of new energy vehicles in June performed well, and many car companies refreshed their monthly sales during the year. Specifically, BYD, Li Auto, Weilai Automobile, Zeekrypton Automobile, etc., have achieved the best monthly results this year, the monthly sales of Leapmotor exceeded 20,000 for the first time, a record high, and the sales of Xiaomi cars also exceeded 10,000.

BYD sold more than 1.6 million vehicles in the first half of the year

According to BYD's June sales data, its sales of new energy vehicles were 340,200, a year-on-year increase of 35.2%, a record high in monthly sales.

From the perspective of subdivided brands, BYD's Dynasty Network and Ocean Network sold 324,800 units, a year-on-year increase of 35%; The sales volume of the Denza brand, Yangwang brand and Formula Leopard brand were 12,275, 418 and 2,680 units, respectively.

In the long term, BYD's sales of new energy vehicles in the first half of the year reached 1.613 million, a year-on-year increase of 28.46%.

It is worth mentioning that BYD's new energy vehicles "go to sea" rhythm is accelerating. BYD exported 27,000 NEV passenger vehicles in June, reflecting a 156.2% y/y increase. Specifically, BYD's first batch of mass-produced new energy vehicles Song PLUS DM-i Champion Edition at the Uzbekistan factory officially rolled off the assembly line; BYD launched three pure electric models and two hybrid models in Tunisia, deepening its presence in the new energy market in North Africa. In addition, BYD's first store in Jamaica was officially opened.

In June this year, Geely Automobile's new energy vehicle sales reached a record high of 66,000 units, a year-on-year increase of 88%, accounting for nearly 40% of total sales. The sales volume of the Lynk & Co brand was 24,400 units, a year-on-year increase of 49%; Among them, the sales of Lynk & Co's new energy vehicles reached 15,200 units, accounting for more than 62%, and the cumulative sales volume in the first half of the year reached 64,100 units. At the same time, ZEEKR delivered 20,100 new energy vehicles, a year-on-year increase of 89%, hitting a record high, with a cumulative delivery of 87,900 in the first half of this year.

Geely Automobile said that based on the strong sales performance of its products so far this year, the group decided to raise its original full-year sales target by about 5%, from 1.9 million units to 2 million units. In the first half of 2024, Geely Automobile's cumulative sales will reach 955,700 units, of which 320,200 new energy vehicles will be sold, a year-on-year increase of 117%.

It was followed by Changan Automobile. In June this year, Changan Automobile's new energy vehicle sales were close to 65,000 units, a year-on-year increase of more than 61%. In the first half of this year, Changan Automobile's own brand sales of new energy vehicles reached 299,000 units, a year-on-year increase of more than 69%. Among them, Changan Qiyuan delivered 73,000 vehicles in the first half of this year, Deep Blue Automobile delivered 83,900 vehicles, and AVATR delivered 29,000 vehicles.

According to the sales data released by GAC Aion, its global sales of new energy vehicles reached 35,000 units in June. However, GAC Aion's global sales in May this year were 40,100 units, that is, sales in June fell by 12.59% month-on-month.

The new car-making forces sell 20,000 units per month, and the camp has expanded

Judging from the performance of new car-making forces, in June this year, Li Auto returned to the top of the sales list of China's new power brands with sales of more than 40,000 units.

In June this year, Li Auto delivered a total of 47,800 new vehicles, a year-on-year increase of 46.7%; In the first half of this year, a total of 189,000 vehicles were delivered. Li Xiang, Chairman and CEO of Li Auto, said, "The delivery volume of Li L in June successfully exceeded 20,000 units, and the monthly delivery volume of all products exceeded 40,000 units. At the beginning of July, Li Auto NOA will be officially pushed to all AD Max users. ”

It is worth noting that at the beginning of this year, the monthly delivery volume of Wenjie Automobile exceeded the ideal, and the sales volume was disclosed on the WeChat public account at the beginning of each month. In recent months, the sales data has no longer been released separately, but has been merged into HarmonyOS Zhixing for announcement. In June this year, Hongmeng Zhixing delivered a total of 46,100 vehicles, and a total of 194,200 vehicles were delivered in the first half of this year. Among them, the delivery volume of Wenjie Automobile in June was 43,100 units, while the delivery volume of Zhijie was 2,995 units.

NIO delivered 21,200 new vehicles in June this year, a year-on-year increase of 98% and a record high. In the first half of the year, a total of 87,400 new vehicles were delivered, a year-on-year increase of 60.2%.

According to NIO's 2023 ESG report released in June, NIO's R&D investment in 2023 reached 13.43 billion yuan, and the total number of pending and granted patents in the United States, China, Europe and other jurisdictions is 8,478.

Leapmotor's deliveries in June also hit a record high, with monthly deliveries reaching 20,100 units, up 52.3% year-on-year and 10.7% month-on-month, with a cumulative delivery of 86,700 units in the first half of the year. On June 28, the Leapmotor C16 was officially launched, and within 48 hours of listing, the number of units reached 5,208.

Xpeng delivered a total of 10,700 new vehicles in June this year, a year-on-year increase of 24% and a month-on-month increase of 5%; From January to June, Xpeng Motors delivered a total of 52,000 new cars, a year-on-year increase of 26%, among them, Xpeng's iconic product P7, monthly deliveries have fallen to the level of one or two thousand, and Xpeng X9 "Nine Crowns" only delivered 1,687 units in June.

According to official data from Xiaomi Auto, deliveries of the Xiaomi SU7 exceeded 10,000 units in June, but the exact number was not disclosed. Since the first deliveries in early April, sales of the Xiaomi SU7 have continued to grow. It is understood that in order to speed up the delivery process, the Xiaomi car factory also implemented double-shift production in June to increase delivery capacity.

The acceleration of the process of "going to sea" is good for new energy vehicles

Some industry insiders said that they are optimistic about the sales volume and "going overseas" prospects of the new energy vehicle market this year, especially the "trade-in" policy launched at the end of April, which is expected to significantly boost the sales of the whole year.

According to the data of the Passenger Association, in May this year, the production and sales of new energy vehicles were 940,000 and 955,000 respectively, an increase of 31.9% and 33.3% year-on-year, respectively, and the market share reached 39.5%, of which the production and sales of pure electric vehicles were 557,000, a year-on-year increase of 8.8%, and the production and sales of hybrid vehicles were 383,000, a year-on-year increase of 91.2%. From January to May this year, the production and sales of new energy vehicles were 3.926 million and 3.895 million respectively, an increase of 30.7% and 32.5% year-on-year respectively, and the market share reached 33.9%.

According to the analysis of GF Securities, driven by the national pro-consumption policy, such as new energy vehicles going to the countryside and preferential treatment for car companies, the demand for car purchases will continue to be released, and the pattern of supply and demand in the automobile market will continue. The Finance Bureau has allocated special funds to support the scrapping and renewal of old cars, and local subsidy policies have been introduced in many places.

Galaxy Securities pointed out in its latest research report that the independent brand of new energy vehicles is gradually forming a differentiated way to go overseas for different markets with different characteristics around the world. For core export regions such as Southeast Asia and Central Asia, the sustained high growth of export volume drives independent brands to build factories in the local area and increase market share; For markets with strong local brands, such as Europe, independent brands have begun to try a new joint venture model with technology output as the core, and use this model in the Chinese market; For countries with low consumption power, such as Africa, the current penetration rate of domestic brands is low, and the model of direct export is still adopted.

Galaxy Securities believes that independent brands continue to make new progress and breakthroughs in the above three modes, and promote the acceleration of the process of "going overseas" of mainland automobiles. According to the latest report released by AlixPlatinum, by 2030, Chinese brand cars will achieve sales of 9 million units outside China, and the market share will increase to 13%, which has broad development prospects.

[This article is original for Financial Investment News, unauthorized reprinting is strictly prohibited!] Contact number: 028-86968491】