On April 11, Great Wall Motor Company Limited(601633) released the production and sales data of March 2022. In March, Great Wall Motor Company Limited(601633) sold 100930 new cars, down 8.86% year on year and up 43% month on month; Among them, 10535 vehicles were sold overseas, with a year-on-year increase of 30.8%. In the first quarter of this year, Great Wall Motor Company Limited(601633) sold 283500 vehicles, down 16.32% year-on-year.
With Great Wall Motor Company Limited(601633) disclosing the sales data in March, the sales ranking of independent brands in March is clear. Among them, Chongqing Changan Automobile Company Limited(000625) won the championship with 236104 vehicles in March, Byd Company Limited(002594) and Geely achieved 104338 and 101166 vehicles respectively, ranking second and third, and Great Wall Motor Company Limited(601633) ranked fourth with 100930 vehicles.
Hu Qimu, chief researcher of Sinosteel Economic Research Institute, said in an interview with Securities Daily: “In March, the leading enterprises of independent automobile brands achieved sales of more than 100000 vehicles, which is commendable against the background of chip shortage and rising raw material costs. In terms of absolute volume, Chongqing Changan Automobile Company Limited(000625) sales exceeded 200000, with obvious advantages, Byd Company Limited(002594) Geely Great Wall is equal. In terms of ring on ring growth rate, considering the Spring Festival holiday in February, the ring on ring growth rate in March is relatively high. In terms of year-on-year growth rate, Great Wall Motor Company Limited(601633) is the only negative growth Of which, the decline in sales of Harvard and pickup truck series dragged down the overall data of Great Wall Motor Company Limited(601633) . “
self owned brand monthly sales exceed 100000
From the sales volume of independent brands in March, despite the lack of core and the rise of raw materials, the sales volume of the four auto enterprises exceeded 100000 units in a single month.
Specifically, in March 2022, Chongqing Changan Automobile Company Limited(000625) group sold 236104 new cars in total, with a year-on-year increase of 4.30%. From January to March, 651493 new cars were sold, with a year-on-year increase of 1.63%. Among them, the sales volume of independent passenger cars was 363283, a year-on-year decrease of 1.34%.
Byd Company Limited(002594) cars sold 104338 cars in March, up 160.9% year-on-year. Among them, 53664 EV pure electric vehicles and 50674 DM plug-in hybrid vehicles are sold. In the first quarter, the cumulative sales volume of Byd Company Limited(002594) vehicles was 291378, with a year-on-year increase of 179.78%, while the cumulative sales volume of Byd Company Limited(002594) new energy in the first quarter of this year reached 286329, with a year-on-year increase of 422.97%.
Geely Automobile released the sales express in March. The data showed that the sales volume of Geely Automobile in March was 101166, a year-on-year increase of 1.14% and a month on month increase of 28.91%. In the first quarter of this year, Geely Automobile sold 326024 new cars, down 2.26% from the same period last year.
Great Wall Motor Company Limited(601633) in the first quarter of this year, 283500 vehicles were sold, a year-on-year decrease of 16.32%. In March, 100930 new cars were sold, up 43% month on month.
Zhang Xiang, President of New Energy Vehicle Technology Research Institute of Jiangxi new energy technology vocational college, said in an interview with Securities Daily: “The rise of raw materials this time is mainly due to the rise of lithium iron carbonate, the cathode material of the battery. Because Great Wall Motor Company Limited(601633) has the battery of honeycomb energy, the pressure of price rise is relatively small compared with other automobile enterprises. However, because Great Wall Motor Company Limited(601633) does not make chips at present, it is greatly affected by the lack of cores. Byd Company Limited(002594) sales are mainly due to the company’s new energy transformation in the past two years, because Byd Company Limited(002594) has its own chip and battery business, so it is difficult to sell In the process of core shortage and raw material price rise, it stands out Chongqing Changan Automobile Company Limited(000625) mainly owns independent passenger car brands , Ford and Mazda, but both Chang’an independent and Ford have negative year-on-year growth, and Mazda increased by 39.9% year-on-year, driving the sales growth in the first quarter. Geely Automobile is located in Zhejiang, and the epidemic has an impact on the company’s sales, but the company’s sales of new energy vehicles are steadily rising. Driven by geometric, extremely krypton, Ruilan and other brands, new energy and hybrid models have brought good increments to the brand. “
It is worth mentioning that compared with independent brands, the performance of mainstream joint venture brands was relatively inferior in March 2022. According to the data of China Travel Association, the retail sales of mainstream joint venture brands in China were 590000 units in March 2022. Compared with the same period in 2021, the sales volume decreased by 30%, far exceeding the overall decline of China’s passenger car retail sales in the same period. Compared with last month, China’s mainstream joint venture brands increased by 9%, lower than the month on month increase in retail sales of passenger cars in the same period.
Euler cat’s sales volume in the first quarter increased by 240% year-on-year
Great Wall Motor Company Limited(601633) , as the last independent brand to disclose the monthly sales data in March, the sales of its Haval H6, Haval big dog, Euler good cat, tank 300, Great Wall gun and other models are stable, and the overseas market is developing continuously.
It is worth mentioning that, as a new energy vehicle brand under Great Wall Motor Company Limited(601633) banner, Euler brand sold 14264 vehicles in March, with a year-on-year increase of 9.31%. Among them, Euler good cat sold 6374 vehicles a month, with a month on month increase of 56.8%. From January to March, it sold 19460 vehicles, with a year-on-year increase of 240%.
In February, due to the sharp rise in the cost of raw materials, Euler announced the suspension of orders for black and white cats. According to the sales data disclosed in Great Wall Motor Company Limited(601633) past, the cumulative sales of black and white cats in 2021 exceeded 88000, accounting for 65% of the total sales of Euler brand.
Regarding the sales performance of Euler brand in March, Hu Qimu told reporters, “In the Euler series, Great Wall Motor Company Limited(601633) suspended the production of low-end black and white cats, focusing on the mini SUV good cats with the price of 120 Yihua Healthcare Co.Ltd(000150) 000 yuan, so the data growth of good cats is relatively good. The price elasticity of demand for low-end models such as black and white cats is relatively large, and the target consumers are price sensitive. When the cost increases, if the price increases, the sales volume will decline sharply, resulting in a decrease in the total revenue. If the price does not increase, the company will bear the loss. In this case In this case, it is an inevitable choice to suspend the production of black and white cats and invest resources in good cats with relatively high-end and low price demand elasticity. “
In addition, in terms of overseas sales, in March, Great Wall Motor Company Limited(601633) overseas sales totaled 10535 vehicles, a year-on-year increase of 30.8%; From January to March, the cumulative overseas sales reached 29322, with a year-on-year increase of 1.78%.
Great Wall Motor Company Limited(601633) told reporters that “the company’s models based on lemon, tank and coffee smart technology brands have accounted for 70.4% and intelligent models have accounted for 84.5%. Next, Great Wall Motor Company Limited(601633) will continue to make efforts in the category market and promote the brand with more high-value and intelligent products”.
Zhang Xiang said, “In 2022, Great Wall Motor Company Limited(601633) will be listed, including new vehicles such as Harvard beast, mocha and tank 500, which will promote the company’s sales and performance growth. In addition, Great Wall Motor Company Limited(601633) relies on three technology platforms of lemon, tank and coffee intelligence to reduce costs and increase efficiency, which is similar to the strategy of Toyota and Volkswagen. With the platform, the parts of Great Wall Motor Company Limited(601633) can be shared, so as to reduce the number of suppliers and reduce management costs.”
