In March, the demand for new energy vehicles remained unchanged, and the industry continued its high boom. A number of auto companies released the production and sales situation in March 22. In terms of new forces, Weilai delivered 9985 vehicles in March, with a year-on-year increase of 38% and a month on month increase of 63%; Xiaopeng delivered 15414 vehicles in March, with a year-on-year increase of 202% and a month on month increase of 148%; The number of vehicles delivered in March increased by 125%, representing an ideal increase of 31% year-on-year; In addition, Nezha and Zero run also exceeded 10000 vehicles one after another Byd Company Limited(002594) 3 in March, 105000 new energy vehicles were sold, setting a new monthly sales volume, with a year-on-year increase of 333% and a month on month increase of 19%. The company announced that it would stop the production of fuel vehicles from March and turn to new energy in an all-round way strategically. On the whole, the year-on-year data still maintained a strong growth trend, and the month on month data also showed a seasonal recovery. The demand side has not been affected by the rise in product prices, and the high outlook is still maintained.
1q22 Tesla delivered 310000 new cars worldwide, with a year-on-year increase of 68% and a slight increase month on month. Among them, 295000 models 3 / y were delivered, with a year-on-year increase of 62% and a slight decrease of 1% month on month. Despite continuing supply chain challenges and plant downtime, Tesla set another delivery record in the first quarter of this year. With the production of the Berlin plant in the first quarter, it will supply the whole European region, meet the strong demand of European consumers, and then improve the sales volume of the whole Europe; Meanwhile, the Austin plant in Texas will also be put into operation this year, mainly producing performance models such as modely / cybertruck / semi. We expect Tesla‘s global sales volume to be more than 1.5 million in 22 years, with a year-on-year increase of more than 60%.
Industry trends: many companies issued annual reports in 2021, with significant growth in performance; The UK plans to build 300000 charging stations by 2030; Last week, the shares of new energy automobile industry chain companies rebounded, and the net value of new energy theme funds generally rose.
With the boom and the increasing penetration of automobile enterprises in the global energy market, a new round of acceleration is coming. It is suggested to pay attention to the main line of new forces represented by Tesla and the catch-up process of new models such as Volkswagen, and recommend leading and second-line elastic targets. For the whole vehicle, Great Wall Motor Company Limited(601633) (2333. HK), Geely Automobile (0175. HK) and Xiaopeng automobile (9868. HK) are highly recommended; In terms of battery materials, it is recommended to pay attention to Contemporary Amperex Technology Co.Limited(300750) , Beijing Easpring Material Technology Co.Ltd(300073) , Ningbo Shanshan Co.Ltd(600884) ; In terms of motor electric control, it is recommended to pay attention to Wolong Electric Group Co.Ltd(600580) , Shenzhen Inovance Technology Co.Ltd(300124) ; For lithium battery equipment, it is recommended to pay attention to Wuxi Lead Intelligent Equipment Co.Ltd(300450) and Zhejiang Hangke Technology Incorporated Company(688006) ; For lithium and cobalt, it is suggested to pay attention to Zhejiang Huayou Cobalt Co.Ltd(603799) , Chengxin Lithium Group Co.Ltd(002240) .
Risk tips: 1. The growth rate of electric vehicle production and sales slows down. With the continuous growth of the production and sales base of new energy vehicles, it will be more and more difficult to maintain a high growth rate, and the introduction of mainstream models for the public has become the key; 2. The price war in the industrial chain intensified. The continuous decline of subsidies and the continuous investment of new production capacity have led to the pressure of price reduction in all links of the industrial chain; 3. The influx of overseas competitors accelerated. With the growth of the Chinese market and the dilution of subsidy policies, the pace of overseas giants entering the Chinese market is accelerating, which has a new impact on the industrial pattern.
