Shulou(Shulou.com)11/24 Report--

On November 8, the Federation released the National passenger car Market Analysis report of October 2023, which shows that both domestic sales and overseas exports of Chinese cars have reached an all-time high.

In October 2023, the retail volume of the domestic passenger car market reached 2.033 million, an increase of 10.2% over the same period last year and 0.7% from the previous month. This is also the third consecutive month of growth in the domestic automobile market. The cumulative retail volume from January to October was 17.267 million units, an increase of 3.2% over the same period last year.

Among them, the growth of new energy vehicles is particularly rapid, and the permeability is further improved. Retail sales in China's new energy vehicle market in October were 767000, up 37.5% from a year earlier, and 2.7% from January to October, up 34.2% from January to October. In terms of penetration, the domestic retail penetration rate of new energy vehicles reached 37.8% in October, an increase of 7.6 percentage points over the 30.2% penetration rate in the same period last year.

The sales of the two leading companies in the new energy field, BYD and Tesla, have also shown different trends. Among them, BYD continued to take the lead, selling more than 300000 vehicles in October, up 38.4% from a year earlier, while Tesla grew only 0.6% from a year earlier, down 2.6% from a month earlier, due to the upgrading of Model 3 and factory upgrades in October.

In the following November, Cui Dongshu, secretary-general of the Federation of passengers, believes that cars are expected to achieve substantial year-on-year growth. One of the major reasons is that in November 2022, a sales trough was formed due to special reasons, with a low base in the same period, coupled with the rational decline in the high level of the property market, lower stock interest rates, car market promotion and other positive factors, the car market in November is expected to soar by more than 20% compared with the same period last year.

Under the general trend of the overall continuous growth of China's auto market, the domestic market and the export market show a different pattern: the domestic market is mixed to take the lead; in terms of exports, pure electricity is dominant.

Year-on-year growth of 78.2%, plug-in models have become "hot cake" in the past few years, the understanding that "mixing is the transition, pure electricity is the future" has gradually taken root in the hearts of the people, but this understanding has begun to change since the beginning of this year. Especially in the situation of slowing down the growth of pure electric models in the domestic market, plug-in models began to grow explosively, outpacing pure electricity in terms of growth.

According to the data, wholesale sales of pure electric models in October were 585000, up 14.4% from a year earlier and 3.7% from a month earlier, while sales of plug-in hybrid models were 298000, up 78.2% from a year earlier and 9.9% from a month earlier. Plug-in hybrid models account for 34% of new energy vehicles, an increase of 9 points over the same period.

From being unpopular with the market to becoming a "hot cake", there are many factors behind the mixed car.

First of all, the pure electric life of the plug-in model has been greatly improved. Prior to the purchase of mixed-in, mainly for the green card. According to the domestic policy, as long as the WLTC pure electric range of the vehicle exceeds 43km, it can be counted as a new energy vehicle, and then enjoy the corresponding welfare policy. However, in the early days, many hybrid cars were scrubbed, with the nominal pure electric range around the 50km, and the actual daily driving may also be able to run 40km, which is very chick.

And now plug in the battery life, whether it is Song PLUS championship version, or Galaxy L7, owl Dragon MAX, can achieve the nominal pure electric mileage of 100km +, and like the ideal L series, BYD Han DM-i and other large battery plug mixed cars, and even can have pure electric battery life capacity above 200km, pure electric range is enough to meet the daily commuting needs of most consumers, even if it is far away, there is no service anxiety.

Secondly, it is due to the fact that new energy manufacturers have launched a large number of new models. In the same period last year, there were not many plug-in hybrid cars on the market, mainly BYD models with DM-i plug-in hybrid system. This year, a large number of competitive plug-in models have emerged, such as Harvard owl Dragon MAX, Geely Galaxy L7, Deep Blue S7, etc., coupled with BYD dynasty, ocean plug-in new cars, the current domestic sales have been as many as 80, the price range is from 100000 to 1 million yuan.

The improvement of driving range and the rich choice of models not only attract many new owners, but also make many owners of tankers have the willingness to replace mixed cars. For the majority of gasoline car owners, compared with directly changing to pure trams, plug-in cars is a good transition choice. Plug-in cars have the same cost and driving experience as pure electric cars, without the driving anxiety of pure streetcars, and with the emergence of hybrid systems such as BYD's DM-i, concerns about high fuel consumption have disappeared.

In short, the innovation of plug-in technology and the abundance of market models have jointly promoted the explosive growth of plug-in cars in China. But in terms of exports, it is a completely different pattern, pure trams prop up the export of a day.

The export of new energy vehicles is strong, with pure electric vehicles accounting for more than 90% of exports. China's automobile industry continues the characteristics of strong growth at the end of last year.

According to the statistics of the Federation, the export of passenger vehicles (including complete vehicles and CKD) in October was 391000, an increase of 49 per cent over the same period last year and 9 per cent month-on-month. From January to October, the export of passenger cars was 3.07 million, an increase of 66 per cent over the same period last year. After surpassing South Korea in 2021 and Germany in 2022, China's auto exports officially surpassed Japan this year, realizing three consecutive jumps to become the world's largest automobile exporter.

With the scale advantage and market expansion demand of China's new energy, more and more Chinese-made new energy product brands go abroad, and their recognition abroad continues to improve. In October, 112000 new energy passenger vehicles were exported, accounting for 28.6% of the total exports, an increase of 8.2% over the same period last year and 22.9% month-on-month growth. Unlike the domestic market, pure electric vehicles account for 90.3% of the new energy vehicles exported.

A big market for Chinese car exports is Europe. Europe is one of the most active regions in the "ban on the sale of traditional fuel cars" and the pursuit of "carbon neutrality". A large number of European countries have a strong demand for pure trams. However, the transformation of the electric industrial chain in Europe is slow and the production cost is high. compared with the cost of domestic pure electric cars, the cost advantage of domestic pure electric cars is obvious. For example, the average price of domestic pure electric cars in the European market is 56000 euros. Even with tariffs and transportation costs, the average price of electric cars exported by China is less than 32000 euros. Independent brands such as SAIC performed well in Europe, where its MG4 EV ranked seventh in sales in the first half of the year.

Another big market for China's car exports is Southeast Asia. Southeast Asia has been the back garden of Japanese cars for a long time, and Japanese cars once accounted for more than 80% of the shares. However, Japanese cars are lagging behind in the electric transformation. With the promotion of new energy vehicles in Southeast Asian countries, the substitution effect of Chinese new energy vehicles on Japanese cars is getting faster and faster. For example, BYD has won high recognition in Southeast Asian markets both in terms of sales and word-of-mouth. Pure trams such as Atto3 (the overseas version of Yuan Plus) and Dolphins have won the first and second place in Thailand, New Zealand, Singapore and other countries.

In addition, GAC, Geely, Chery and other export data are also very good, and recently, the export of new forces has also been gradually launched, overseas markets have also begun to show data, it can be said that domestic cars are blooming overseas.

To sum up, the overall stability and improvement of China's automobile industry in October, in which the general trend of new energy passenger car enterprises is relatively strong. Under this general trend, the pattern of plug-in hybrid models of new energy vehicles taking the lead in the domestic market and accelerating the export of pure electricity overseas is becoming more and more obvious, such as BYD's strategy of plug-in and pure electric two-wheel drive. no matter in the domestic market or in overseas exports, the performance is very good, tamping the leading position of independent brands in new energy.

This article is from the official account of Wechat: automobile News Agency (ID:automobile-news), by Xia Zhuang.

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