New energy vehicle enterprises have a prosperous start in 2022. According to the January production and sales express released on February 6, the production and sales of the company’s new energy vehicles reached 91736 and 93168 respectively in January, with a year-on-year increase of 309.66% and 361.73% respectively, and the production and sales increased more than three times. In the capital market, Byd Company Limited(002594) has also made a good start. On the first trading day after the Spring Festival (February 7), A-Shares Byd Company Limited(002594) rose by more than 9% and closed at 244.40 yuan / share, up 7.76%.
In addition to Byd Company Limited(002594) , new energy brands such as GAC AIAN and Xiaopeng also recorded a high increase in sales in January. Pan Helin, member of the information and communication economy expert committee of the Ministry of industry and information technology and executive director of the Digital Economy Research Institute of Central South University of economics and law, said in an interview with the Securities Daily that it is a long-term trend for new energy vehicles to replace gasoline vehicles, and the sales of new energy vehicles will not weaken in the future.
off season is not light
new energy vehicle enterprises continue to increase volume
From past experience, affected by the Spring Festival holiday and the impulse of manufacturers in December of the previous year, January is usually the off-season for the sales of new energy vehicles. However, from the perspective of this year, the off-season of the new energy vehicle market in January was not light, and the high growth rate continued. Take Byd Company Limited(002594) as an example, in terms of monthly sales, the sales of new energy vehicles in January was second only to 93945 in December last year, ranking the second highest in a single month in history.
Adhering to the strategic layout of EV pure electric and DM hybrid walking on two legs is one of the reasons for the high growth of Byd Company Limited(002594) sales. In January, Byd Company Limited(002594) the sales volume of new energy passenger vehicles reached 92926, with a year-on-year increase of 367.65%, including 46386 pure electric and 46540 plug-in hybrid vehicles, with a year-on-year increase of 220.72% and 760.58% respectively. Pure electric and plug-in hybrid vehicles accounted for half of the country respectively. Byd Company Limited(002594) in January, when accepting investor research, he said that DM-I super hybrid is the masterpiece of the company, hoping to make DM-I super hybrid enter the market segment dominated by traditional fuel vehicles and create a blue ocean in the Red Sea.
The strength of the new brand is also worth mentioning. Byd Company Limited(002594) its marine dolphin brand maintained a high boom, with a monthly sales volume of 10602 units, an increase of 6% month on month, breaking 10000 again.
In the investor conference call at the end of last year, Byd Company Limited(002594) revealed that the sales target of new energy vehicles in 2022 will be between 1.1 million and 1.2 million. Last year, Byd Company Limited(002594) sold about 600000 new energy vehicles, which means that the sales volume needs to nearly double this year, and the average monthly sales volume may reach 100000.
In addition to Byd Company Limited(002594) , many new energy vehicle enterprises also received brilliant reports in January: the sales volume of GAC ea’an reached 16031, a year-on-year increase of 117.9%; Xiaopeng automobile, ideal automobile and Nezha automobile delivered 12922, 12268 and 11009 vehicles in January, with a year-on-year increase of 115%, 128% and 402% respectively. While the monthly sales exceeded 10000, they doubled.
Lin Shi, Deputy Secretary General of the professional committee of intelligent network association of China Communications Industry Association, told the reporter of Securities Daily that there were two factors for the sales volume of new energy vehicle enterprises to start well: first, there was a lack of chips last year, and the backlog of orders was delivered in January; Second, the head effect appears. Consumers recognize these brands, and non head car enterprises may not be in such a good situation.
In an interview with reporters, Cui Dongshu, Secretary General of the national passenger car market information joint committee, also believed that the local epidemic in December last year affected the year-end sales of new energy vehicle enterprises, and some orders were postponed to January this year. Therefore, the sales of new energy vehicles in January were good, and the upward trend of new energy vehicles remains unchanged in the long run.
consumer enthusiasm
the industry is optimistic about the future
The booming market proves that factors such as the decline of subsidies and the rise of vehicle prices have failed to prevent consumers from flocking to new energy vehicles.
On January 1, the Ministry of Finance and other four departments jointly issued the notice on the financial subsidy policy for the promotion and application of new energy vehicles in 2022. The subsidy standard for new energy vehicles in 2022 decreased by 30% from that in 2021. After the decline of subsidies, some car companies announced price increases, and consumers’ car purchase costs increased. For example, on January 21, Byd Company Limited(002594) announced that it would adjust the official guidance price of new energy models related to its Dynasty network and Ocean network by 1000-7000 yuan, and the price adjustment will take effect on February 1. GAC ea’an said that from January 1, 2022, the price of ea’an LX will increase by 4000 yuan, and the starting price will reach 230000 yuan.
In Pan Helin’s view, although the decline of subsidies and the rise of vehicle prices are unfavorable to consumers, the current oil price is on the rise. The price of electric energy of new energy vehicles is low, with relatively high cost performance, and is still attractive to consumers. Cui Dongshu also believes that the decline of subsidies has little impact on the sales of new energy vehicles.
In fact, the outside world is generally optimistic about the new energy vehicle market in 2022. According to the report of the passenger Federation, the framework and threshold requirements of the current purchase subsidy technical index system will remain unchanged in 2022, while the subsidy scale is not locked from the original expected upper limit of 2 million vehicles, and the subsidy will be realized throughout the whole year of 2022. With the doubling of the scale of the new energy industry chain and the improvement of cost reduction ability, it is expected that the increment of new energy vehicles by the end of 2022 can be expected.
The passenger Federation said that the original expected sales volume of 4.8 million new energy passenger vehicles in 2022 should be adjusted to more than 5.5 million, and the penetration rate of new energy passenger vehicles should reach about 25%. In 2022, the number of new energy vehicles is expected to exceed 6 million, and the penetration rate of new energy vehicles is about 22%.
The China Automobile Association predicts that the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles will reach 5 million in 2022, with a year-on-year increase of 42%. According to the relevant person in charge of China Automobile Association, the support of intelligent networked vehicle technology and the innovation of business model will greatly promote the popularization of new energy vehicles, especially the implementation of the “double carbon” goal, which will accelerate the progress of transformation. The planned goal of the proportion of new energy vehicles by 2025 is likely to be achieved ahead of schedule, All this will effectively support the growth of China’s auto market in 2022.
Bohai Securities Research Report believes that under the support of replenishment and demand replenishment, the recovery trend of the new energy vehicle industry in the future is expected to continue. At the same time, China’s demand for steady growth is becoming more and more obvious. Under the strategic requirements of expanding domestic demand, automobile consumption is expected to become an important driving point, and the necessity of stabilizing automobile consumption is increasing.
“The rise of global energy prices such as oil prices, the improvement of the cost performance of new energy vehicles, the improvement of consumers’ awareness of environmental protection, and the decline of supply chain costs caused by the maturity of new energy vehicle industry chain will drive the growth of new energy vehicle sales in 2022.” Pan Helin said.
