In the post epidemic era, although facing the adverse situation of “lack of core and less power”, on the whole, China’s auto market has overcome difficulties and bid farewell to the era of “negative growth” for three consecutive years. In 2021, auto production and sales increased year-on-year, with a year-on-year increase of 3.4% and 3.8% respectively. The performance of Chinese brand passenger cars was even more eye-catching, with a total sales of 9.543 million vehicles throughout the year, a year-on-year increase of 23.1%, and a market share of 44.4%, an increase of 6 percentage points year-on-year.
As the leaders of Chinese brands, Geely, great wall, Chang’an and Byd Company Limited(002594) have gradually become real “leaders” in terms of brands and products through years of accumulation. In the past 2021, how did the sales of several leading Chinese auto enterprises perform? Overall, the sales volume of the top three Geely, great wall and Chang’an has exceeded 1.2 million, which has a significant scale effect and is widely recognized by consumers.
Byd Company Limited(002594) although there is a gap with the top three in terms of magnitude, it has a rapid growth momentum, and its diversified layout also makes it particularly competitive. Cross domain businesses such as chips and batteries make it a “unicorn” among many car enterprises and is popular in the capital market.
However, although these car companies can go hand in hand in terms of sales, they are very different in terms of growth potential. In 2021, Geely held the “top position”, with sales of 1.32 million vehicles, but the growth rate was only 0.6%, while Byd Company Limited(002594) although the sales volume was only 730000 vehicles, the growth rate was as high as 75.4%. Is Geely touching the “ceiling” or Byd Company Limited(002594) about to start “flying”?
Geely: won the “sales crown” of Chinese brand
According to the official data released by Geely, Geely’s automobile sales totaled 1328000 in 2021. The sales volume is mainly composed of Geely, geometry, Lingke and krypton, of which Geely and Lingke brands are the main brands, with sales of 1.06 million and 221000 respectively
Image Source: Official microblog of Geely Automobile
In terms of sales figures, although Geely still ranked first among Chinese brands in 2021, it failed to achieve its own sales target of 1.53 million vehicles. In 2022, Geely set a higher sales target of 1.65 million vehicles.
In 2021, Geely Automobile set the sales target at 1.53 million, a year-on-year increase of 16%, but the actual sales volume was only 0.6%. The target for 2022 is “1.65 million vehicles”, with a year-on-year increase of 24.24%. How Geely will achieve its sales target in 2022 has attracted much attention.
However, Geely still has great potential in the field of new energy vehicles. In 2021, the sales volume of Geely brand new energy vehicles was 80600, with a year-on-year increase of 170.3%; The sales volume of all Geely brand new energy vehicles reached 100100, a record high, with a significant overall increase.
At present, although Geely’s sales volume in the field of new energy vehicles temporarily lags behind traditional Chinese brand car enterprises such as Byd Company Limited(002594) , great wall and Chery, as well as new car building forces such as Weilai, Xiaopeng and ideal, which can not squeeze into the top 10 in the annual sales list of new energy vehicles, Geely, as the champion of annual passenger car sales of Chinese brands, has broad room for progress in this field, New energy vehicles will also become an important fulcrum for Geely to achieve its sales target in 2022.
Great Wall: novelty marketing creates “hot money”
In 2021, Great Wall Motor Company Limited(601633) sold more than 1.28 million new cars, with a year-on-year increase of 15.2%. At first glance, the growth rate seems ordinary. However, a series of novel marketing of Great Wall Motor Company Limited(601633) captured the hearts of many consumers and created a number of “popular” products, which were popular in the market
Image Source: Great Wall Motor Company Limited(601633) official microblog
In 2021, Great Wall Motor Company Limited(601633) launched a variety of updated and brand-new models, such as Haval red rabbit, Haval beast, Wei macchido, Wei latte, Wei Mocha, tank 300 city version, tank 500 and Euler cat GT. It gathered a variety of animals such as “cat, dog, dragon and horse”, tasted a variety of coffee such as “macchido, latte and mocha”, and also from “machine armor” to “tank”, It has achieved heaven and earth. The naming of each model is unique, with good recognition and exposure.
Great Wall Motor Company Limited(601633) the newly established tank brand has created several “popular” models in the twinkling of an eye. The hottest one is the “tank 300”, which has been on the market for more than three months. Because of the large amount of orders, the manufacturer had to announce that it would stop accepting new orders. It can be seen that Great Wall Motor Company Limited(601633) has found the right direction in building a “popular” model.
Chang’an: the “hybrid” strategy has achieved results
According to Chongqing Changan Automobile Company Limited(000625) official data, in 2021, the sales of Chinese brand passenger cars of Chang’an series exceeded 1.2 million, with a significant year-on-year increase of 23.1%. Among them, the sales volume of cs75 large SUV reached 280000, the annual sales volume of uni series exceeded 120000, and the annual sales volume of Auchan brand reached 228000, becoming the leading models in their respective segments.
For a long time, Chongqing Changan Automobile Company Limited(000625) has deeply cultivated hybrid models and formed its own “voice” in this field. Chang’an IDD hybrid system has become the “benchmark” in the industry
Image Source: Chongqing Changan Automobile Company Limited(000625) official microblog
Different from the traditional hybrid technology, Changan IDD hybrid adopts more advanced methods, higher cost and better effect. In the original double clutch gearbox, a clutch is added to form a three clutch scheme. In this way, the requirements of “full scene” working conditions such as low-speed pure electricity and high-speed direct drive can be realized.
Thanks to the promotion of this technology, the hybrid vehicle equipped with Chang’an IDD technology realizes the hybrid operation under all working conditions. The vehicle is more fuel-efficient in pure electric mode, and the engine directly drives the vehicle at high speed, with better power. Although the average price of uni series models equipped with this technology is not low, the sales volume has repeatedly reached new highs.
Byd Company Limited(002594) : new energy “the scenery here is unique”
In 2021, the sales volume of Byd Company Limited(002594) passenger cars exceeded 730000, with a year-on-year increase of 75.4%, of which the sales volume of new energy vehicles exceeded 593000, with a year-on-year increase of 231.6%, accounting for 81% of the overall sales volume, and won the champion of the annual sales volume of Shanxi Guoxin Energy Corporation Limited(600617) passenger cars in 2021
Image Source: Byd Company Limited(002594) official microblog of automobile
As a pioneer brand of new energy vehicles, Byd Company Limited(002594) has an indisputable position in this field. Its products have the characteristics of wide coverage, good economy and advanced technology. Consumers have high recognition of Byd Company Limited(002594) new energy models. As a traditional automobile brand, Byd Company Limited(002594) new energy models account for the highest proportion of sales.
In addition to automotive products, Byd Company Limited(002594) has also made a breakthrough in the field of power batteries. In 2021, Byd Company Limited(002594) ranked fourth in the installed capacity of global power battery enterprises, second only to Contemporary Amperex Technology Co.Limited(300750) , LG new energy and Panasonic. Its blade batteries have been widely verified in terms of safety and economy, and the market prospect is unlimited.
new energy vehicles will become a “new explosion point” in the auto market
The performance of Chinese brand passenger cars in 2021 can be described as “unexpected”. Geely, Chang’an, great wall and Byd Company Limited(002594) all continued to make efforts on the track they are good at, the production and sales volume and market share increased simultaneously, and handed over a “convincing” report card.
According to the prediction of Fu Bingfeng, executive vice president and Secretary General of China Automobile Industry Association, the total sales volume of automobiles in China is expected to reach 27.5 million in 2022, with a year-on-year increase of about 5%. Among them, there were 23 million passenger cars, a year-on-year increase of 7%; New energy vehicles will reach 5 million, a year-on-year increase of 42%, and the market share is expected to exceed 18%.
It can be seen that the overall production and sales of Chinese cars will continue to grow steadily in 2022, and there is great room for progress of Chinese brand passenger cars. At present, the new energy vehicle market has shifted from policy driven to market driven, and consumers’ awareness and purchasing power of new energy vehicles are gradually increasing. From this point of view, new energy vehicles at the air outlet will become the “new explosion point” of igniting the vehicle market.
