Since 2022, a number of new energy vehicle enterprises have announced price increases. On January 21, Byd Company Limited(002594) officially announced that the price of all models will increase by 1000-7000 yuan from February 1.
Prior to this, Tesla, Xiaopeng, Nezha, GAC AIAN and other new energy vehicle enterprises have announced price increases. According to the analysis of the passenger Federation, after the decline of subsidies, the price of some models will be adjusted, and the consumption mentality will also change to some extent, and the demand for new energy vehicles may 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.
Byd Company Limited(002594) price increase of all models
Byd Company Limited(002594) the announcement shows that due to the sharp rise in raw material prices and the decline of new energy vehicle purchase subsidies, the official guidance prices of new energy models related to dynasty.com and ocean.com will be adjusted 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.
According to the information on the official website, dynasty.com and haiyang.com are the two main sales networks of Byd Company Limited(002594) . Among them, dynasty.com mainly sells Qin, Han, Tang, song, yuan and other models, while ocean.com mainly sells e-series, dolphin, song plus and other models.
According to the sales data, the sales volume of Byd Company Limited(002594) passenger cars exceeded 730000 in 2021, with a year-on-year increase of 75.4%; 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. In 2021, the unit in the annual sales list of Shanxi Guoxin Energy Corporation Limited(600617) passenger vehicles ranked first.
Specifically, the annual sales volume of song series models is 200900, ranking first in all series and becoming the most popular model of the brand. In addition, the annual sales of Han, Tang, Qin and Yuan series reached 117700, 54200, 194200 and 41400 respectively, and the annual sales of E series was 38400. The Byd Company Limited(002594) dolphin series, which was soon on the market, also achieved sales of more than 10000 in December last year, with sales growth for four consecutive months.
Industry insiders believe that there are two main reasons why Byd Company Limited(002594) dare to increase the price. On the one hand, the business segments of Byd Company Limited(002594) are relatively diversified, which can balance the risk of price increase; On the other hand, Byd Company Limited(002594) hot selling models are in short supply. When there is a long collection cycle in the new energy vehicle market, it can provide existing cars and give them more confidence to raise prices.
“Now Qin series models have a discount of 5000 yuan and a replacement subsidy of 3000 yuan. Han series models have a discount of 8000 yuan and a replacement subsidy of 10000 yuan.” The staff of a Byd Company Limited(002594) 4s store in Chaoyang District said that the two popular models now have cars in stock. “Orders before February 1 will not be affected. We can insure your price from now to January 31.”
several auto companies announced price increases
In fact, the problem of rising raw material prices has plagued many auto enterprises. Since 2022, the state subsidies have declined, and Tesla, Xiaopeng, Nezha, gac-e’an and other new energy vehicle enterprises have announced price increases one after another.
On December 31, 2021, Tesla announced that the rear wheel drive version prices of model 3 and model y were increased by 10000 yuan and 21000 yuan respectively. Not long ago, the price of Nezha automobile products increased by about 2000-5000 yuan, and Xiaopeng automobile also announced that the price of all the products increased by about 4300-5900 yuan.
“The original amount of national subsidy was about 15000 yuan. After the subsidy declined by 30%, the price of all models basically increased by about 5000 yuan.” A staff member of a Xiaopeng automobile direct store said that at present, the order of P7 model in the store has been arranged after March.
While announcing the price increase, some car enterprises encourage customers to place orders by means of limited time insurance. Weilai automobile will subsidize the users who pay the deposit before December 31, 2021 and successfully pick up the car before March 31, 2022 in accordance with the national standard of 2021, and the difference shall be borne by Weilai. Xiaopeng also provides users who pay the deposit from January 1 to 10, 2022 with the same subsidy policy as that in 2021.
FAW Volkswagen said that after completing ID cross car purchase before February 28, it can enjoy the same comprehensive subsidy price as that in 2021, and the decline of 5400 yuan subsidy will be borne by FAW Volkswagen.
sales of most models will not be affected
Despite the impact of chip shortage, rising raw material costs and prolonged vehicle collection cycle, the sales of new energy vehicles will still grow rapidly in 2021. According to the data of China Automobile Association, the production and sales of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in 2021 were 3.545 million and 3.521 million respectively, with a year-on-year increase of 1.6 times. The sales volume in a single month broke the historical record many times, and the growth rate reached the highest level since 2016.
Among them, the new energy sales of SAIC, Byd Company Limited(002594) , Dongfeng, GAC and Geely’s traditional car enterprises exceeded 100000, the annual sales of new car manufacturers such as Xiaopeng, Weilai and ideal exceeded 90000, and the sales of Nezha, Zero run and Gaohe also increased rapidly.
The passenger Federation previously said that with the implementation of the decline of new energy subsidies, the price of some models will be fine tuned, the consumer mentality will also change, 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.
Cui Dongshu, Secretary General of the passenger car Association, said, “whether the price of subsidized downhill models will rise depends on the relationship between market supply and demand. If the new energy vehicle market continues a strong trend, some auto enterprises will rise in price. If the demand is relatively weak, they may trade at a discount.” In his opinion, ” Byd Company Limited(002594) and Tesla have mastered the pricing power to a great extent. They are relatively competitive and have a certain benchmarking effect. If Byd Company Limited(002594) and Tesla raise the price, other car companies are likely to follow up.”
