Special Contributor | Zhu Yulong
Editor | Qiu Kaijun
It’s the first week of November, and from this week’s perspective, the new energy vehicle market seems to have stabilized, but the power is still insufficient. The slump in sales of traditional fuel vehicles is a deep-rooted problem.
From October 31 to November 6, 2022, which is the 45th week of the year, the following data and brief comments:
Overview of passenger vehicle sales
The sales volume for this week is 355.6 thousand units, with a year-on-year increase of +9.25% and a weekly decline of -14.31%. From the overall data, 355 thousand units can be considered normal.
Sales of new energy passenger vehicles
The sales volume this week is 110.5 thousand units, with a year-on-year increase of +43.12% and a weekly decline of -11.19%. This data is much better than the first week of October, but it’s not significantly different from the previous data.
Traditional vehicles
The sales volume of traditional vehicles this week is 245 thousand units, with a year-on-year decrease of -1.28% and a weekly decline of -15.6%. From the current situation, the overall sales of fuel vehicles are also in a weak sales period at the end of the year.
The leading automakers in terms of sales volume are still BYD, Tesla, and Wuling. BYD sold 37,200 cars, still an absolute leader. Tesla sold 11,000 vehicles, indicating that the price-cutting strategy cannot stop. At present, the Model Y accounts for the vast majority of sales, while the Model 3 has very little presence. Wuling sold 7,535 vehicles, and there is a relatively stable demand for low-priced models. Aiways sold 4,716 units and began to gain momentum in November. Geely (excluding Geometry) also sold 2,905 cars, which is not stunning, but it is steadily increasing.
Main focus on new electric vehicle players:
Recently, the market performance of new electric vehicle players has not been good. On the one hand, the sales growth of leading companies has clearly stagnated; on the other hand, some brands have fallen behind, leaving fewer and fewer players. NIO sold 2,852 cars, and all three of its models, the ET7, ET5, and ES7, performed well. It can be seen that the turning point to watch for in the future is the gradual delivery of the ET5. However, it seems that the old model 668 series is not very strong, with 775 series accounting for 73% and 668 series accounting for 27%. Ideal sold 2,224 vehicles, with only one delivery of the L8. Leapmotor sold 2,008 units, including Leapmotor and Changjiang, and I combined the data from the two companies. Hezhong (Neta) sold 1,896 cars, and this week’s data was slightly less. XPeng sold 1,115 vehicles. The winter is particularly cold, but the G9 has begun to be gradually delivered, and the sales volume will increase in the future. WM Motor sold 304 units. Let’s not talk about it; I don’t know what to say.The two innovative brands WENJIE and JIKE are commendable. WENJIE has sold 2473 units, ranking second among the new forces. With the adjustment of prices, WENJIE will have a greater momentum after M7 starts delivery and becomes more competitive.
JIKE has sold 2308 units, very impressive.
Summary
The data of November objectively reflects the problem of the current automobile retail lack of momentum, and even new energy vehicles are not immune. The sustained high growth has become difficult to sustain.
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.