In November, the global sales of new energy vehicles exceeded expectations, and the lithium battery outlook continued to rise
In November, The wholesale sales volume of new energy passenger vehicles in the Chinese market was 429000 (year-on-year + 136.09%), and 178000 in eight European countries (year-on-year + 33%), 60000 new energy vehicles were sold in the US market. The overall sales volume of new energy vehicles exceeded expectations. On the one hand, it shows that the problems at the supply side such as vehicle chips are gradually solved, on the other hand, it shows that the product power of electric vehicles is gradually increasing at the user side; we expect the penetration rate of the industry to further increase in 2022. The industry investment has entered the third stage: (a) Logic returns to long-term growth and attaches importance to the links with high barriers, with lithium battery leader as the core; (b) in the post cycle, pay attention to the diffusion of the landscape of the new energy vehicle industry chain, and the integration of energy storage, hydrogen energy, motors, equipment, charging and replacement, traditional vehicle parts and electrification is the direction that needs to be paid attention to. (c) In terms of new technologies, pay attention to the cost reduction brought by the product innovation of leading companies, such as flat wires, high-voltage systems, 4680 batteries, etc.
In mid November, Shanxi Guoxin Energy Corporation Limited(600617) car sales were in line with expectations, and the value of the industrial chain continued to be optimistic
According to the data of the passenger Federation, the wholesale sales volume of Shanxi Guoxin Energy Corporation Limited(600617) passenger cars in mid November was 429000, with a year-on-year increase of + 136.09% and a month on month increase of + 16.58%. Among them, the wholesale sales volume of BEV was 343000, with a year-on-year increase of + 125.70% and a month on month increase of 13.20%; The wholesale sales volume of PHEV was 85000, with a year-on-year increase of + 185.83% and a month on month increase of + 30.77%. In terms of BEV, A00 vehicles accounted for 31.43%, steadily increasing month on month; Class a vehicles accounted for 25.13%, which remained stable. In terms of PHEVs, the sales volume of class B vehicles was 34300, accounting for 40.16% and + 3.5% month on month. In mid November, the wholesale penetration rate of Shanxi Guoxin Energy Corporation Limited(600617) passenger vehicles reached 19.95%, of which the penetration rate of new energy vehicles in independent brands reached 33.2%, that of luxury vehicles was 24.6%, and that of new energy vehicles in mainstream joint venture brands was only 3.9%. The penetration rate from January to November was 15%, which was significantly increased compared with 5.8% of the annual retail penetration rate in 2020.
Byd Company Limited(002594) the sales volume remained the first, and the sales volume of many new forces exceeded the level of 10000 vehicles
In terms of car enterprises, the wholesale sales volume of new energy vehicles in November Byd Company Limited(002594) was 90500, a month on month increase of + 12%, of which the sales volume of Qin plusdm-i was 18100, ranking first, and song plusdm-i ranked second with 15100; Tesla's wholesale sales volume is 52859 units, 21127 units are exported, and 31700 units are sold in China, 129% month on month. Model 3 / y China's sales volume is 86 / 23100 units. The new forces of car making continued to improve. In November, the sales of Weilai / ideal / Xiaopeng / Hezhong vehicles were 10900 vehicles (mom + 197%) / 13500 vehicles (mom + 76%) / 15600 vehicles (mom + 54%) / 10000 vehicles (mom + 24%). Wuling Hongguang miniev sold 50100 vehicles in November, mom + 19%. SAIC Volkswagen New Energy sold 12000 vehicles in November, mom + 11%.
The sales volume of new energy vehicles in Europe increased, and the penetration rate of new energy vehicles exceeded 25%
In November, the sales volume of electric vehicles in eight European countries was 178000, with a year-on-year increase of + 33% and a month on month increase of + 20%. Specifically, the sales volume of BEV in Europe in November was 106900, with a month on month increase of + 24%; The sales volume of PHEV was 70900, a month on month increase of + 14%. By country, Germany registered 68200 electric vehicles, a year-on-year increase of + 14%; The registered number of electric vehicles in France was 28600, a year-on-year increase of + 54%; The registered number of electric vehicles in the UK was 32500, a year-on-year increase of + 80%; The registered number of electric vehicles in Italy was 12600, a year-on-year increase of + 28%; The registered number of electric vehicles in Spain was 7200, a year-on-year increase of + 37%; The registered number of electric vehicles in Norway was 13900, a year-on-year increase of + 39%; The registered number of electric vehicles in Sweden was 11400, a year-on-year increase of + 12%; Portugal registered 35000 electric vehicles, a year-on-year increase of + 19%.
Risk tip: the sales volume of new energy vehicles is lower than expected, and the demand is lower than expected due to overseas epidemic.
