AutoBeta(AutoBeta.net)11/04 Report--

On November 3rd, Changan Automobile released KuaiBao for production and sales in October. Data show that Changan automobile sales in October were 250800, up 4.07% from the same period last year, of which 85300 were sold by independent brand new energy. By the end of October, the cumulative sales of Changan Automobile was 2.1558 million, an increase of 2.14% over the same period last year, of which 1.7974 million were sold by independent brands, 1.3288 million by independent passenger cars, 532900 by independent brands of new energy and 318600 by independent brands overseas.

In terms of brand segments, the brand with the biggest decline in October was Changan Mazda, down 41.53 per cent from a year earlier to 7521 vehicles, while cumulative sales for the year were 68300, down 13.54 per cent from a year earlier. At present, Changan Mazda models on sale include Mazda 3 Uncella, Mazda CX-5, Mazda CX-50 Xingya, Mazda CX-4 and Mazda EZ-6. Among them, Mazda EZ-6 is a new energy car jointly developed by Mazda and Changan Automobile, which is based on Changan EPA platform and is homologous to Deep Blue SL03. It was launched on October 26th, and a total of 7 models were launched. Provide add-on hybrid and pure electric power options, add-program hybrid price is 13.98-169800 yuan, pure electric price is 15.98-179800 yuan. As one of the earliest car brands to enter the Chinese market, Mazda has been deeply cultivated in the Chinese market for 32 years, but Mazda's performance in the domestic market has become increasingly weak. Of course, this is also related to the increasingly fierce market competition and Mazda's own niche positioning.

By contrast, Changan Ford, another joint venture brand of Changan Automobile, has increased, but the increase is not significant. Changan Ford rose 3.21 per cent to 19800 vehicles in October from a year earlier; cumulative sales for the year were 192200, up 3.36 per cent from a year earlier.

For other brands, Chongqing Changan sold 104800 vehicles in October, down 8.81 per cent from a year earlier; Hebei Changan sold 7408 vehicles, up 86.79 per cent year-on-year; and Hefei Changan sold 34800 vehicles, up 45.25 per cent from a year earlier.

Generally speaking, compared with the joint venture brand, the independent brand has become the responsibility of Changan automobile sales. Up to now, the new energy brands operated by Changan Automobile have formed the layout of the three major electric brands: deep Blue Automobile, Avita and Changan Qiyuan. According to official figures, deep blue car sales in October were 27900, up 76.60 per cent from a year earlier; Avita sold 10100, up 158.64 per cent from a year earlier; and Changan Qiyuan sold 18000.

As the leader of fuel vehicles, fuel vehicles are still the base of Changan Automobile to maintain sales, but under the pressure of new energy, like most traditional car companies, Changan Automobile is also having a hard time. Data show that in the first 10 months of this year, Changan auto brand new energy sales of 532800 vehicles, accounting for 24.72% of the total sales, the share is not very large. But in the long run, the contribution of joint venture brands to Changan is far less than it used to be. Changan still has to rely on its own brands and new energy vehicles to achieve rapid sales growth. After all, with new energy vehicles gradually replacing fuel vehicle products, there will not be many opportunities for mainstream joint ventures based on fuel vehicles to stay on the card table in the future. At present, Changan Automobile is in a critical stage of new energy transformation, according to the plan, Changan Automobile will stop selling fuel vehicles next year, which means that Changan Automobile electrification transformation time is running out. At present, including Deep Blue Automobile and Avita, the two major brands are still in the early stage of development, in this context, Changan Automobile also faces many challenges.

On October 28, Changan Automobile released its results for the first three quarters and the third quarter of 2024. According to the financial report, in the first three quarters of 2024, Changan Automobile accumulated revenue of 110.96 billion, up 2.54% from the same period last year; net profit was 3.58 billion yuan, down 63.78% from the same period last year; net profit from deductions was 1.681 billion, down 48.87% from the same period last year; and gross profit margin was 14.38%, down 3.5% from the same period last year. This is due to intensified competition in the domestic fuel vehicle market and the company's loss on new energy vehicles. Generally speaking, Changan Automobile still needs to make more changes in the future in order to face the changing automobile market.

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