AutoBeta(AutoBeta.net)08/09 Report--

On August 9, the Federation released the latest monthly market analysis report on passenger car sales. Data show that retail sales of passenger cars in July 2023 were 1.775 million, down 2.3 per cent from the same period last year and 6.3 per cent from the previous month, of which 641000 were retail in the new energy passenger car market, up 31.9 per cent from a year earlier and down 3.6 per cent from a month earlier. In addition, by the end of July, retail sales of domestic narrow passenger vehicles totaled 11.299 million, an increase of 1.9 percent over the same period last year, of which 3.725 million were new energy vehicles, an increase of 36.3 percent over the same period last year.

Data show that in July, self-brand retail sales of 940000 vehicles, an increase of 15% over the same period last year, with a market share of 53.2%, an increase of 5.8% over the same period last year. Domestic car companies such as BYD, Geely, Changan and Chery increased their market share significantly. The mainstream joint venture brand retailed 590000 vehicles, down 28% from the same period last year, with German brands having a market share of 20.8%, Japanese brands 15.8% and American brands 7.7%.

According to the list of retail sales of domestic car companies released by the Federation of passengers, polarization is very obvious. Among the top 10 car companies, only Yadi Motor, Geely Motor and Changan Automobile have achieved growth, while others have all shown a decline. Among them, SAIC-Volkswagen, Guangzhou Automobile Toyota, FAW Toyota all fell by more than double digits. There is no sign of familiar joint venture brands such as Dongfeng Nissan, Dongfeng Honda and Guangzhou Auto Honda in the list.

As the only brand to achieve all-electric, BYD car (including momentum) retail 231000 vehicles, an increase of 45.2% year-on-year, is still the biggest increase in the brand. It is understood that BYD stopped producing fuel vehicles in March 2022 and became the first car company in China to achieve full electrification. Since then, its market share in new energy vehicles has been rising, and its annual sales have surpassed FAW-Volkswagen to become the largest manufacturer in China. Today, BYD's 5 millionth new energy vehicle is coming off the line. According to past data, it took BYD a year to sell from 1 million to 2 million new energy vehicles, and only half a year from 2 million to 3 million.

Geely and Changan play an important role in the domestic auto industry, with sales rising 7.5 per cent to 118000 and 3.0 per cent to 117000 in July compared with the same month last year. At present, Geely Automobile and Changan Automobile are not in the layout of electrification and intelligence to jointly promote Chinese brands. On July 6, Geely Galaxy L6 released, the new car positioning compact car, will carry a new generation of Raytheon plug-in hybrid system. On July 20, Changan Qiyuan A07 was unveiled as a new car positioning medium and large sedan, providing added hybrid and pure electric version for consumers to choose from.

In July, Great Wall retail sales of 71000 vehicles, down 6.4 per cent from a year earlier. Among them, Harvard brand is 45000, tank brand is 11000, Euler and Wei brand are 8577 and 6652 respectively. From the point of view of the industry, Great Wall Motor is slow in the transformation of new energy and lacks a strong pace of development, but with the improvement of technology and the continuous improvement of the product matrix, Great Wall Motor has also begun to move towards a new stage. From the perspective of market reaction, the transformation of Great Wall Automobile Xing Energy has gradually emerged. It is understood that the top three models of the Great Wall new energy sales in July are Ola good Cat (7786), Harvard Mowl Dragon MAX (6197) and Blue Mountain DHT-PHEV (5566).

In contrast, the market differentiation of joint venture brands is extremely serious, the competition between brands is obvious, and none of the brands has achieved growth. Among them, FAW-Volkswagen fell 1.0% from the same period last year, making it the smallest joint venture brand on the list, while SAIC-Volkswagen, as a "brother enterprise", fell 16.7%, while SAIC General Motors, which is also headquartered in Shanghai, also fell by 9.8%.

Japanese brands are even more bleak, with only Toyota joint ventures in the top 10, but FAW Toyota and Guangzhou Auto Toyota also experienced double-digit declines of 16.6% and 13.1%, respectively. FAW Toyota is the brand with the biggest decline on the list, while Dongfeng Nissan, Guangzhou Automobile Honda and Dongfeng Honda have no sign. According to the data, Dongfeng's daily production and sales were 56000, down 34.66% from a year earlier, while Dongfeng Honda and Guangzhou Auto Honda were 49000 and 41000 respectively.

Generally speaking, July is the off-season for sales in the automobile industry, and it is not surprising that sales of traditional cars have declined, but at present, the new energy vehicle industry has shown steady growth, and enterprises with the layout of electric vehicles have the potential for growth. the overall market shows the characteristics of "off-season is not light".

Since the beginning of the year, the automobile market is facing unprecedented fierce competition. In the second half of the year, with the implementation of the sixth national emission policy and the price impact of inventory cars, the price trend of fuel vehicles will return to normal in the second half of the year. As the demand for fuel vehicles picks up in the autumn, it may show a trend of "stabilizing first and then recycling".

Since August, many car companies, such as SAIC-Volkswagen, Zero Auto, Chery New Energy, Great Wall Euler, and so on, have launched preferential promotions to cut prices or introduce rights and interests for some of their models. It is not known whether this is the beginning of a new round of price cuts, but the price war will continue in a short time, and the knockout stage is far from over.

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