On January 21, Byd Company Limited(002594) announced that due to the sharp rise in raw material prices and the decline of new energy vehicle purchase subsidies, Byd Company Limited(002594) vehicles will adjust the official guidance prices of new energy models related to dynasty.com and ocean.com by 1000-7000 yuan.
The price adjustment will take effect on February 1. Customers who pay a deposit before this will not be affected by the price adjustment.
Source: Byd Company Limited(002594) automobile
price adjustment affects a wide range
Dynasty.com and ocean.com are the two main sales networks of Byd Company Limited(002594) for the price increase. Among them, dynasty.com mainly sells new energy models such as Qin, Han, Tang, song and Yuan; Ocean net mainly sells e series, Byd Company Limited(002594) dolphin, song plus, warship series, etc.
After years of precipitation, Byd Company Limited(002594) has gained a huge customer base. The impact of this price adjustment is wide, which can be seen from the sales of various models.
In 2021, the annual sales volume of Han series is 117665, that of Tang series is 54204, that of Qin series is 194220, that of Yuan series is 41402, that of song series is 200870, that of E series is 38350, and that of Byd Company Limited(002594) dolphin from August to December is 29598.
Byd Company Limited(002594) said that the price adjustment was mainly affected by the sharp rise in the price of raw materials and the decline of new energy vehicle purchase subsidies.
In fact, the rise in raw material prices is also an important factor perplexing Byd Company Limited(002594) 2021 profits.
In 2021, Byd Company Limited(002594) new energy vehicle sales soared, and the revenue rose. However, it was faced with the problem of “increasing revenue without increasing profit”. According to the latest financial report data, in the first three quarters, Byd Company Limited(002594) achieved an operating revenue of 145.192 billion yuan, a year-on-year increase of 38.25%; The net profit attributable to shareholders of listed companies was 2.443 billion yuan, a year-on-year decrease of 28.43%. The price increase will smooth the profit pressure brought by the rise of raw materials to a certain extent.
several auto companies raised prices
In addition to the rise in raw material prices, the decline in subsidies is also an important factor. At the end of 2021, the notice on the financial subsidy policy for the promotion and application of new energy vehicles in 2022 jointly issued by the Ministry of finance, the Ministry of industry and information technology and other four ministries and commissions shows that the subsidy standard for new energy vehicles in 2022 will decline by 30% on the basis of 2021. New energy vehicles licensed after December 31, 2022 will no longer be given state subsidies.
Before Byd Company Limited(002594) , several car companies announced price increases. Last December, Tesla China’s official website showed that the starting price of model 3 increased by 10000 yuan to 265600 yuan, and the starting price of model y increased by 21000 yuan to 301800 yuan. The expected delivery time of both models is 12-16 weeks. And not long ago, the rear wheel drive version of these two models just raised the price by 4752 yuan.
Since the subsidy policy was announced, the new forces of car making have also announced “price increases”. In January this year, Nezha raised the price of its models. The prices of Nezha V, Nezha u pro and other models increased by about 2000 yuan to 5000 yuan.
Subsequently, Xiaopeng automobile also officially announced the price increase. On January 11, Xiaopeng’s official website showed that the price of all models of Xiaopeng increased by about 4300-5900 after the subsidy. Among them, the price of Xiaopeng flagship car P7 increased by 4300-5900 yuan, and the price after the latest subsidy was 224200-409900 yuan; All new P5 series increased by 4800-5400 yuan; All SUV models g3i rose by 4800-5400 yuan. There is no change in vehicle configuration and design.
It is worth noting that after Tesla and Xiaopeng announced the price increase, their share prices have fallen to varying degrees. Among them, the official announcement of Xiaopeng automobile fell 4.29% on the same day.
Since this year, the performance of the new energy sector has been sluggish. The share price of Byd Company Limited(002594) has fallen 21% since its high in October last year. The impact of the price increase on the stock price will be known by next Monday.
What is the impact of the decline of subsidies?
The decline of subsidies for new energy vehicles will not only affect vehicle enterprises, but also be closely related to consumers.
For the impact of the decline in subsidies, the China Federation of passenger cars previously said that with the implementation of the decline in new energy subsidies, the prices of some models have been fine tuned, the consumer mentality has also changed, and the demand for new energy vehicles will still be slightly affected. However, new energy vehicles continue to be popular. At present, there are a large number of undelivered orders in the early stage, so the sales of most new energy vehicles will not be significantly affected by the decline.
The passenger Federation said that with the doubling of the scale of the new energy industry chain and the improvement of cost reduction ability, it is expected that the increment of new energy vehicles will be strong by the end of 2022. It was originally expected that the sales volume of new energy passenger vehicles in 2022 would be 4.8 million, adjusted to more than 5.5 million, and the penetration rate of new energy passenger vehicles would reach about 25%. New energy vehicles are expected to exceed 6 million, and the penetration rate of new energy vehicles is about 22%.
According to the prediction of the Federation of passengers, the steady policy subsidies will inevitably promote the sharp increase in the total sales of medium Shanxi Guoxin Energy Corporation Limited(600617) vehicles in 2022 and continue to maintain a super leading position with a share of more than 50% in the world.
