1.1 electrification helps independent brands to attack and reshape the competition pattern of vehicle manufacturers
In 2021, the market gradually recovered, and the sales volume of passenger cars became positive year-on-year
The passenger car market experienced three consecutive years of decline and began to recover gradually in 2021. Despite the constraints of rising prices of raw materials and shortage of chips, the overall sales volume of passenger cars in 2021 still reached 21.482 million, with a year-on-year increase of + 6.5%, ending the downward cycle for three consecutive years since 2018.
Sub price: the independent high-end is comprehensively promoted, the brand premium continues to increase, and the market share of independent brands in the passenger car market of more than 200000 is expected to accelerate upward
In the last round of zhugra cycle, independent brands actively deployed SUVs to drive their product prices upward, and finally increased the proportion of sales volume of 100000-200000 passenger cars. At present, the market share of independent brands in the passenger car market of 200000-300000 yuan is close to its level of 100000-200000 in 2014. In the new round of zhugra cycle, independent brands take the lead in accelerating the electric intelligent layout, and are expected to accelerate the reproduction of the improvement path of the market share curve of 100000-200000 Yuan passenger car market in the past five years in the market of more than 200000 yuan. In the high-end passenger car market with more than 300000 yuan in 2021, the market share of independent brands exceeded 10% and entered the accelerated popularization period. Electric intelligence is expected to drive the average price of independent brands to continue to rise, driving the upward trend of market share of independent brands.
Division: the product strength and competitive willingness of independent brands continue to improve, which is the most important incremental source of the passenger car market in 2021
The product strength and competitive willingness of independent car enterprises represented by Chang'an, Geely, great wall and Byd Company Limited(002594) continued to improve. The share of independent passenger cars reached 45% in 2021, up from + 6pct last year. Driven by Tesla's large volume, the market share of American Series increased slightly, and American Series contributed 1.1% to the growth rate of passenger cars in the whole year; Affected by the slow transformation of chips and electrification, Japanese and German systems performed poorly.
Independent brands have become the most important incremental market in the passenger car market.