In February, the sales volume of new energy passenger vehicles increased year-on-year. In February, there were 247000 new energy insurance vehicles, with a year-on-year increase of 162.3% and a month on month decrease of 21.5% (better than the month on month decrease of 35.5% in the same period last year). Among them, 187000 pure electric passenger vehicles were insured, with a year-on-year increase of 133.8% and a month on month decrease of 22.0%; 59000 plug-in hybrid passenger vehicles were insured, with a year-on-year increase of 325.0% and a month on month decrease of 19.6%.
The penetration rate of new energy in non restricted cities hit a record high. The penetration rate of new energy in February was 22.1%; The penetration rate of new energy in non restricted cities was 19.5%, a record high; The penetration rates of cities with purchase restrictions and cities with traffic restrictions were 38.0% and 20.5% respectively. In January, the penetration rates of new energy in first tier, second tier, third tier, fourth tier and lower tier cities were 37.9%, 24.0%, 20.9%, 15.9% and 11.3% respectively.
Byd Company Limited(002594) won the championship of automobile enterprises for a long time, and Hongguang miniev ranked first in the model. In February, the top 5 enterprises of new energy passenger vehicles were Byd Company Limited(002594) , SAIC GM Wuling, Tesla, Chery and ideal respectively, and the number of insured vehicles was 66445, 30483, 24197, 13253 and 8370 respectively; The top 5 models are Wuling Hongguang miniev, Tesla modely, Byd Company Limited(002594) song plusdm, Byd Company Limited(002594) Qin plusdm and ideal one, with 27839, 19071, 13232, 12843 and 8370 insured vehicles respectively.
Byd Company Limited(002594) new energy passenger vehicles performed well Byd Company Limited(002594) 2 in February, 66445 new energy passenger vehicles were insured, with a year-on-year increase of 621.5% and a month on month decrease of 13.5%, leading the whole industry. Among them, there are 29715 pure electric vehicles and 36730 plug-in hybrid electric vehicles. Qin plusdm and song plusdm insured 12843 and 13232 vehicles respectively, maintaining a high level; The sales of Han EV and dolphin are 5061 and 6183 respectively; 2111 yuan plusev were insured in the first month of listing, which is expected to continue climbing.
GAC AEAN insurance 7000 vehicles. Affected by the Spring Festival holiday and capacity expansion, there were 7353 gac-aa insurance vehicles in February, with a year-on-year increase of 245.5% and a month on month decrease of 33.1%. The number of AIS s, AIS y and AIS V insured is 3170, 3212 and 904 respectively.
Tesla insurance 24000 vehicles. In February, Tesla issued 24000 insurance vehicles, with a year-on-year increase of 34.1% and a month on month increase of 23.4% (in February, Tesla sold 57000 vehicles, of which 33000 were exported). Among them, the number of insurance on Model 3 and model y is 5126 and 19071 respectively. The total proportion of these two vehicles in cities with no traffic restrictions and purchase restrictions has increased from 21.9% in 2020 to 41.2%; The proportion of insurance in first tier cities decreased from 49.8% in 2020 to 23.5%.
Euler insurance 7000 vehicles. In February, there were 7228 Great Wall Euler brand insurance vehicles, with a year-on-year increase of 18.7% and a month on month decrease of 49.1%. Among them, the insurance numbers of Euler black cat, good cat (including GT) and white cat are 3067, 3707 and 454 respectively. In February, the proportion of the number of insurance coverage of Euler good cat in non restricted cities increased from 33.1% in 2020 to 55.1%, and the proportion in non first tier cities continued to increase from 66.3% in 2020 to 90.4%.
Ideal, Nezha and other excellent sales performance. In February, there were 8370 insurance vehicles, with a year-on-year increase of 265.3% and a month on month decrease of 32.6%. In February, 6467 Nezha cars were insured, with a year-on-year increase of 818.6% and a month on month decrease of 33.4% (including 1968, 4487 and 12 Nezha u, V and N01, respectively). 6157 Xiaopeng insurance vehicles (year-on-year + 162.6%, month on month – 52.7%); The number of vehicles with ring insurance was – 563.44% year-on-year; 3457 zero running insurance vehicles (year-on-year + 495.0%, month on month – 53.5%); The number of vehicles of Weima insurance increased by + 338.3% year-on-year.
Investment suggestions: focus on recommending excellent independent vehicle enterprises Byd Company Limited(002594) , Guangzhou Automobile Group Co.Ltd(601238) , Great Wall Motor Company Limited(601633) and parts enterprises Zhejiang Founder Motor Co.Ltd(002196) , Jiangsu Changshu Automotive Trim Group Co.Ltd(603035) , Changzhou Xingyu Automotive Lighting Systems Co.Ltd(601799) , Mingxin Automotive Leather Co.Ltd(605068) .
Risk tip: the subsidy has declined sharply; Chip shortage; The sales volume of new models is lower than expected
