Author | Zhang Ruichen
Editor | Wu Xianzhi
On November 1st, several domestic new energy vehicle companies released their sales figures for October. Due to various reasons, both “We Xiaoli” and new forces such as “Zero Run” experienced a certain degree of decline, while “Zeekr” and “AITO” had surprising performances.
Of course, it should be noted that the new energy “big brother” BYD usually does not announce its monthly sales figures on the first day of each month, resulting in our current inability to know its specific sales in October, but its leading position is still unshakable.
Without BYD, EAON once again ranked first among all brands, breaking the threshold of 30,000 for two consecutive months, with a year-on-year growth of 149%. From January to October this year, EAON’s cumulative delivery volume reached 212,384 units.
Some people may be surprised to see this data and wonder why they still know so little about EAON when it sells so well. Actually, it is because the proportion of EAON’s To C is relatively low compared to its competitors, and a large part of it is digested in the B-end market, which results in a lower market recognition. To make the public more accepting, it needs to gradually improve its product strength and the market gap in the middle and high end.
It is worth mentioning that EAON’s month-on-month growth rate in October was only 0.16%, and the growth bottleneck has quietly emerged.
The “NETA U+V” reached a new high in October, delivering 18,016 vehicles, becoming the first new force brand to break through the 18,000 mark in monthly sales. Deliveries in October increased by 122% year-on-year and by 0.06% month-on-month. The cumulative deliveries for the first ten months of 2022 reached 129,206 vehicles. The target for the year, which was set at 150,000, is at hand, making the “NETA U+V” one of the few new force models that can achieve its annual goal.
Although its average selling price is lower than that of most Chinese new energy brands, NETA has stabilized its position in the low- to mid-end market of new energy vehicles.
Since the beginning, NETA has focused on the low- to mid-end market and has not blindly used intelligentization as a gimmick. Instead, the company has concentrated its efforts on cost-effectiveness. In late October of this year, NETA reached a strategic cooperation agreement with NVIDIA, focusing on the subsequent intelligent cockpit and the overall intelligentization solution.
In October, Wanjie Automobile sold 12,047 vehicles, an increase of 461.37% year-on-year and 18.8% month-on-month. The cumulative deliveries for the first ten months of 2022 reached 61,622 vehicles, an increase of 832.82% year-on-year.
Wanjie Automobile is continuously breaking industry records: since the delivery of the Wanjie M5 in March of this year, it holds the fastest record of a new brand single model selling more than 10,000 units in 87 days. The Wanjie M7 was launched, and it took just 51 days to reach deliveries of over 10,000 units for three consecutive months.
The Wanjie M5 EV pure electric SUV was launched in early September and has been gradually delivered to multiple cities nationwide.
Wanjie’s success is attributed to its three main advantages: First, its overall production capacity is improving at a fast pace, and its quality control is relatively strict. Second, the expansion speed of Wanjie’s stores is surprisingly fast, and the sales channel is always one of the core factors for automobile manufacturers’ sales. Third, its channel, brand effect, and influence brought by Huawei also contribute to its success, making it a brand with great potential.
Ideal Auto delivered a total of 10,052 new vehicles in October 2022, representing a YoY growth of 31.4% and a MoM decrease of 12.8%. Up to the end of October, Ideal Auto has delivered 96,979 vehicles in 2022.
The orders for L9 and L8 models continue to show strong growth, and it is the first time that cars in the price range of 400,000 yuan have achieved such remarkable sales performance for this independent brand.
The MoM decrease is due to the previous questioning by Ideal ONE car owners, who suspected that they had been cheated. However, the impact on sales has been limited, indicating that Ideal L9 is still popular among consumers. Ideal L8 has been launched and will be delivered in November, so sales are expected to continue to rise.
NIO delivered 10,059 new vehicles in October 2022, showing a YoY increase of 174.3% and a MoM decrease of 7.53%. As of the end of October 2022, NIO has delivered 92,493 vehicles, showing a YoY increase of 32%.
Due to epidemic prevention requirements, NIO’s two factories in Hefei were successively shut down, causing a delay in delivery. Since mid-October, NIO’s production has been challenged. Despite this, the performance was better than expected. The Jianghuai NIO F1 plant was originally planned to be closed for 3-5 days, and most of the parts were in stock, so production could continue. Employees have set up tents in the factory. However, the closure was extended, and the overall production and delivery rhythm were massively impacted, so it was not easy to achieve more than 10,000 deliveries in October.
In October 2022, the delivery volume of LI (LZ) was 7,026, a decrease of 36.4% compared to September’s 11,039. It became the car company with the largest month-on-month decline among several new forces in the automobile industry.
LZ has two car models, both around CNY200k, which are C11 and C01. In fact, they have done well in terms of cost performance. Similar to NIO, LZ’s main competitive advantage is the mid-to-low-end new energy vehicle market. Compared to NIO (NIO), LZ has a decent year-on-year growth rate but insufficient deliveries for high-priced models. They need better products to optimize the high-end market.
Currently, LZ has also been listed on the Hong Kong Stock Exchange. However, it plummeted on the first day of listing and continued to fall the next day, indicating that LZ is not popular among the capital market.
In October 2022, XPeng (XPeng) delivered 5,101 vehicles, a year-on-year decrease of 49.7% and a month-on-month decrease of 39.8%. In the first ten months of 2022, a total of 103,654 vehicles were delivered, a year-on-year increase of 56%.
Although XPeng’s sales have declined for three consecutive months, in the January-October period, a total of 103,654 vehicles were delivered, a year-on-year increase of 56%, making it the company with the largest delivery volume among “NIO, Li Auto, and XPeng” in the first ten months of 2022.
The decline in XPeng’s sales is related to the fact that many people are waiting for the updated version of XPeng P7 to be released, and XPeng G9 has just started to deliver and has not yet been delivered in large quantities. It is also related to the issues encountered by XPeng’s own organization and management.But the technical strength of XPeng has always been undeniable, it’s just going through a low period, fortunately, the company has realized the problem and is already working on solving these issues.
In October 2022, the delivery volume of the Voyah electric car was 2,553, and in September it was 2,519, a month-on-month increase of 1.3%. Cumulative delivery from January to October 2022 was 16,172.
The sales of Voyah electric cars are not as large as other new energy vehicle companies. Although Voyah has maintained an upward trend for six months, the increase is limited. Judging from the delivery numbers of Voyah this year, the existing two models, the SUV model Voyah FREE and the MPV model Voyah Dreamer, are not performing well. The sedan that will be released before the end of the year may promote sales growth.
JiKe electric car announced that its delivery volume in October 2022 was 10,119, with 8,276 delivered in September, a month-on-month increase of 22.3%. The cumulative delivery from January to October 2022 was 49,593.
JiKe electric car has delivered over 55,000 in the first ten months of 2022, setting a delivery record for high-end intelligent pure electric brands. JiKe’s self-built charging station has covered 453 stations in 76 cities across China. At the same time, the charging monthly card exclusively for car owners will also officially go online.
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.