AutoBeta(AutoBeta.net)02/10 Report--

With the development of the novel coronavirus epidemic, China's automobile market is facing severe challenges as soon as it enters 2020, and the sales of many car companies in the first month of the year also fell short of expectations. On Feb. 10, BYD released its January 2020 sales of KuaiBao, which showed that BYD sold 25173 vehicles in January, down 42.68 percent from 43920 in the same period last year. Of this total, sales of fuel vehicles were 18040, up 18.28% from the same period last year, while sales of new energy vehicles were 7133, down 75.12% from the same period in 2018.

From the above sales data, it is not difficult to see that the decline in BYD car sales is mainly due to the lower-than-expected sales of new energy vehicles. As the leader of domestic new energy vehicles, BYD's sales were relatively optimistic in the first half of last year, and sales continued to grow. However, since the decline of new energy subsidies, BYD new energy vehicles seem to have lost their vitality. With the continuous decline of new energy vehicle sales in China, BYD has also followed suit. The declines from July to December last year were 11.84%, 23.4%, 50.96%, 54.57%, 62.69% and 71.92%, respectively.

From the perspective of BYD's new energy vehicle product camp, it has dynasty series and e-series, of which dynasty series sales account for the vast majority of total sales.

BAIC New Energy, a new energy car company, also fell short of expectations in January, with sales of 2006 vehicles in January 2020, down 55.54 per cent from 4512 in the same period last year, according to sales figures released by BAIC Blue Valley on February 7. Although BAIC Langu is not as good as BYD in the sales of new energy vehicles, the sales of BAIC New Energy is not very optimistic from the sales announced by BAIC Blue Valley over the past months. From July to December 2019, BAIC's new energy sales increased by 77.9%, 12.8%,-13.4%,-69.2%,-62.6% and 23.5% respectively from a year earlier.

Although BAIC New Energy did not disclose the sales of specific models, the BAIC EU series propped up half of BAIC's new energy sales.

Since the second half of last year, the sales of new energy vehicles in China have declined to varying degrees. As for the reason for the decline in sales is also intuitive, the decline in sales in the second half of 2019 is mainly due to the impact of the decline of new energy subsidies on new energy vehicles. The two car companies continued to decline in January, mainly due to the deserted dealers' stores caused by the Spring Festival holiday and the spread of the epidemic. At present, China's car sales will continue to decline in a short period of time.

It is clear that 2020 has not been a friendly start. However, due to many irresistible factors, a decline in sales by a number of car companies is actually expected. The China Automobile Association said that the car market in January was in the off-season of the car market, coupled with the overdraft market of marketing activities in December, which led to a decline in passenger flow in January, a decline in demand in the car market and a further decline in the delivery of new cars. In addition, due to the continued spread of the epidemic, the prolonged resumption of work by car companies will lead to a decline in car production and sales, but the China Automobile Association also believes that it is a vacuum period for car sales, and the impact of the epidemic on the overall car market is still very limited.

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