Market Downturn in October without Miracles

Special Author | Zhu Yulong
Editor | Qiu Kaijun

Data for the last week of October (October 24-30, 2022) was also the last week of October. The terminal sales (insured vehicles) of new energy passenger cars still increased by 36.90% year-on-year, but the growth rate has dropped significantly. Fuel vehicles suffered even more, with a weekly decline of 20% year-on-year.

It seems that new energy vehicles are thriving, but the chill has spread to everyone.

Looking at the overall data, there are the following characteristics:

1) Total passenger car volume:

Sales volume of 415,000 vehicles, a year-on-year decrease of 8.70%, the weekly total growth rate is better than last week, with a month-on-month growth of 15.67%;

The cumulative sales volume of 2.8 million vehicles over 28 days of the month is a year-on-year decrease of 6.01%, and a month-on-month decrease of 15.17%.

2) New energy passenger cars:

Sales volume of 124,400 vehicles, a year-on-year increase of 36.90%, with a week-on-week growth of 16.11%;

Monthly sales volume of 410,000 vehicles over 28 days, a year-on-year increase of 44.36%, but a month-on-month decrease of 17.63%.

3) Fuel vehicles.This week’s sales volume is 290,000 vehicles, down 20% compared to the same period last year. The gap between traditional fuel vehicles and new energy vehicles is significant. Especially last year, the shortage of chips in fuel cars led to a low base, and this year there is a 5% reduction in purchase tax. This comparison data shows us the weakness of the motivation in car consumption.

Comments on specific manufacturers:

In the fourth week of October, the data from various car companies has basically arrived.

BYD sold 45,060 vehicles in a single week, an increase of 5,000 vehicles from the previous week. Both the Sea Lion and the Destroyer have increased in sales volume. Demand for the DM-i series is good despite the limited growth in sales of pure electric vehicles from the previous period.

Wuling sold 8,854 vehicles in a single week, with data basically remaining under 9,000 in a single week.

Tesla sold 8,079 vehicles in a single week, and it is expected to start a concentrated delivery cycle to the Chinese market next month. Due to the price reduction of Tesla, the terminal sales volume can still maintain a good level.“`markdown

Changan delivered 6938 units in a week, and the data of Changan’s deep blue series cars is very impressive over the past month. The SL03 series is still in the climbing stage, and the significant effect of mass delivery is estimated to be achieved by December.

Li Auto delivered 5036 units in a week, and the deliveries basically doubled, exceeding 9200+ in four weeks. It delivers half a month’s sales in a week.

Aiways delivered 4921 units in a week, with a total of 16,000 units in four weeks.

Xpeng delivered 1252 units in a week, with a total of 4358 units in four weeks.

Chery delivered 2851 units in a week.

Geely delivered 2713 units in a week.

NIO delivered 2600 units in a week. The biggest problem currently is at the production capacity supply side, and the impact of the Hefei epidemic on delivery is significant.

WM Motor delivered 2031 units in a week, and more than 8400 units in a month. Huawei’s influence is fully reflected in this car model**.

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This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.