Key points:
The impulse at the end of the quarter drives the month on month growth of the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) cars in March. The Chinese epidemic disturbs the car market, and the impact will be more concentrated on the sales volume data in April
In the middle of March 2022, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles was 484000 (+ 114%), an increase of 43.9% month on month. The monthly sales volume corresponds to the penetration rate of new energy vehicles of 21.7%; From January to March 2022, the cumulative sales volume was 1257000 (+ 139%), and the cumulative sales volume corresponds to the penetration rate of new energy vehicles of 19.3%. The momentum at the end of the quarter drives the month on month growth of the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) cars in March. The Chinese epidemic disturbs the car market, and the impact will be more concentrated on the sales volume data in April. The epidemic has a huge impact on the automobile industry. Fortunately, at present, the automobile industry, as a key guarantee industry, has taken the lead in returning to work and production.
The China Automobile Association predicts that the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles will be 5 million (+ 42.0%) in the middle of 2022, which will still maintain a high-speed growth, and the prediction of the passenger association is higher. At the current time point, affected by (1) declining subsidies, (2) rising prices of new energy vehicles, (3) unstable supply chain and other variables, the market is uncertain and lack of confidence in the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in 2022. Now China’s epidemic has disturbed the bullet train market, and the production and sales of new energy vehicles are under pressure. We believe that there are many models of new energy vehicles available in the Chinese market, many products are attractive, and the demand is strong and supported. We always have confidence in the Chinese Shanxi Guoxin Energy Corporation Limited(600617) automobile market, and we can still expect the hot sales of Chinese Shanxi Guoxin Energy Corporation Limited(600617) automobiles in the future.
German Shanxi Guoxin Energy Corporation Limited(600617) automobile sales decreased in March compared with the same period last year
Germany is an important place for European automobile industry and a wind vane for the sales of new energy vehicles in Europe. In March 2022, 62000 new electric vehicles (- 6.0%) were registered in Germany; From January to March 2022, a total of 151000 new vehicles were registered (+ 6.1%). German Shanxi Guoxin Energy Corporation Limited(600617) automobile sales fell sharply month on month in January and decreased year-on-year in March, which was significantly weaker than the performance of Chinese market and American market, mainly affected by the decline of subsidies and the war between Russia and Ukraine.
The sales volume of Weilai and ideal in March climbed slightly, showing a slight fatigue
In March 2022, the ideal sales volume of Weilai and Weilai showed a slight weakness, especially the ideal sales volume in March was less than that in January, which was significantly weaker than the overall performance of China Shanxi Guoxin Energy Corporation Limited(600617) automobile market. Weilai’s production base is located in Hefei, Anhui Province, and the ideal production base is located in Changzhou, Jiangsu Province. Both are affected by the Chinese epidemic.
Investment advice
At present, with the control of the epidemic situation in Shanghai / Jilin and the promotion of resumption of work and production, the automobile industry is returning to the normal track. In the middle of 2022, the sales volume of Shanxi Guoxin Energy Corporation Limited(600617) automobile is still 5 million (+ 42%), and the industry is growing rapidly. In addition, it should also be noted that the foreign new energy vehicle market has a huge space, and the growth rate is also very fast in recent years: European car companies have stepped up the transformation of new energy vehicles under the world’s most stringent vehicle emission standards, and Biden’s attitude towards new energy is earth shaking compared with his predecessor, and the American Shanxi Guoxin Energy Corporation Limited(600617) automobile industry has ushered in a long lost policy dividend. It is suggested to pay attention to the leading companies of power batteries and lithium battery materials that can enter the international supply chain. These companies can benefit from the large volume of foreign markets. Maintain the “overweight” rating of the industry.
Risk tips
Repeated outbreaks in China; The new energy vehicle industry is greatly affected by the policy and the boom fluctuates violently; Industry competition intensifies; The technology boom has foamed the bubble.
