The overall trend of the domestic auto market at the end of this year, compared with previous years, is somewhat different from previous years, before many years, most brands will shrink at the end of the year, but in November this year, the "first war" in the domestic auto market has become more and more intense, whether it is the oil car market or the new energy vehicle market, all fight **. As a result, although it has entered the off-season of car sales in the usual sense, the domestic auto market at the end of 2023 has not really "entered winter", and it still shows a steadily growing market**.
According to the sales data released by the China Passenger Car Association, in November 2023, domestic passenger car manufacturers sold a total of 254 new cars90,000 units, a year-on-year increase of 253%, and 43% increase. In the first 11 months of this year, the cumulative wholesale sales volume of the domestic auto market was 2,28190,000 units, an increase of 89%。
Judging from the situation of the top 10 car companies in terms of sales, there are two main characteristics. One is that the market momentum of independent car companies is still "fierce", and the monthly sales are "top three", and once again all of them are in the pocket of independent car companies, BYD, Chery and Geely, are the only three car companies with monthly sales of more than 200,000 vehicles, of which BYD's sales exceeded 300,000 again. The second is that most car companies have achieved a relatively large year-on-year growth, and only SAIC-GM-Wuling and SAIC-GM are still in a downward channel.
Independent car companies have entered their heyday
Under the continuous new car offensive and ** offensive, BYD's market performance is still "running wild" all the way. Following in October, BYD once again delivered monthly sales of more than 300,000 units in November, launching an all-out sprint towards the annual sales target of 3 million units. As of November, BYD's cumulative sales in 2023 have reached 2,683,374 units, an increase of 64 from the same period last year29% year-on-year growth.
If nothing else, in the domestic auto market, the milestone event of an annual sales of more than 3 million vehicles by a car company will be completed by BYD this year. In November this year, BYD also completed another milestone breakthrough, on November 24, BYD's 6 million new energy vehicles officially rolled off the assembly line, from the "5 million" to "6 million" forward, BYD only took 3 months, setting a new production and sales record.
Chery Automobile's market performance has also been on the right track, and in recent months, it has continued to refresh the monthly sales record, and officially crossed the threshold of 200,000 units per month in November. According to the news data released by Chery Automobile, its three major brands Chery, Jietu and Xingtu continued to sell well in November, of which Chery brand sold 147,916 vehicles, a year-on-year increase of 109%, and sales from January to November reached 1,197,650 units, a year-on-year increase of 419%；The Jietu brand sold 41,027 vehicles in November, a year-on-year increase of 1397%, sales from January to November were 273,109 units, up 728%；The Xingtu brand sold 15,296 vehicles in November, up 173% year-on-year3%, 1-11 sales exceeded 100,000 units, reaching 111,352 units, a year-on-year increase of 1295%。
For Chery Automobile, the next transformation to the new energy market will be a key task, and in the past November, Chery has made great moves in the field of new energy. The Chery brand has released a new energy sequence "Fengyun", and the first model, the Fengyun A8, has achieved good market attention. Xingtu's medium and large pure electric sedan Star Era ES also officially opened pre-sale in November. In November, the Jietu brand released the first model of the Jietu Shanhai series, the Shanhai L9, to sprint to the domestic seven-seater hybrid SUV market. There is also a more blockbuster new car, the Zhijie S7, which is the first model jointly created by Chery and Huawei, and was officially launched at the end of November. With Huawei's blessing in intelligent networking, the expectations of Zhijie S7 can be said to be directly full, and the follow-up market performance of this new car will be an important indicator to test Huawei's "status in the rivers and lakes" in the automobile market.
Zhijie S7, **Zhijie Automobile.
After entering the second half of 2023, Geely Automobile's market performance is also developing rapidly, especially in the past three months, it has also broken new sales records every month, and in November, it directly crossed the peak of monthly sales of 200,000 units.
The simultaneous promotion of the two routes of "new energy + oil vehicles" is a major feature of Geely Automobile. At present, in the new energy market, Geely Automobile's Galaxy series, Geometry series, Zeekr brand and Lynk & Co brand can all make good contributions, helping Geely Automobile to win more than 60,000 units in the new energy market for the first time in November, with sales increasing by 88% year-on-year. In the oil car market, driven by Xingrui and Xingyue L, Geely has initially had the capital to wrestle with joint venture products at the same level, and the price is basically the same but can enjoy more advanced product power, Geely's "China Star" series has finally begun to release market potential. Not long ago, Geely also officially released the hybrid versions of Xingrui and Xingyue L, Xingrui L Zhiqing and Xingyue L Zhiqing, further enhancing the competitiveness of its fuel products. Obviously, Geely Automobile still has a relatively high pursuit in the fuel market, as for whether it can get what it wants, I believe that the terminal market will soon give an answer.
Changan, Great Wall and SAIC Passenger Vehicle, the sales volume in November was also more than 100,000 units, and the continuous development in the new energy market is also the key reason for the three car companies to maintain stable market growth. In November, the sales volume of Changan Automobile's own brand new energy segment reached 5060,000 units, an increase of 5273%；Great Wall Motor sells new energy vehicles 310,000 units, a year-on-year increase of 14293%；SAIC Motor Passenger Vehicle sells new energy vehicles 320,000 units, year-on-year and month-on-month also showed an increase trend.
The share of joint venture car companies is "defending".
On the whole, in the past 11 months, the general trend of independent "whale swallowing" market share has not fundamentally changed, but it has to be said that a series of recent "self-help" plans of joint venture car companies (improving the best efforts, launching new models to stimulate the market, etc.) are not useless. In fact, in November, joint ventures maintained good market growth as a whole, with a total of 73 new cars being sold60,000 units, up 18% y/y and 3% m/m. The fundamental reason why the market share is still being compressed is that the growth momentum of independent automakers is more intense.
North and South Volkswagen is still the representative model of the joint venture camp, and in November, it continued to maintain the title of the sales champion and runner-up of the joint venture car company. Among them, FAW-Volkswagen sold 17 cars in November90,000 units, a year-on-year increase of 439%；SAIC Volkswagen's market momentum has also reversed, returning to positive growth in November, with a total of 120,000 vehicles sold, a year-on-year increase of 73%。
The strong efforts at the end of the year are the key reasons why FAW-Volkswagen can maintain the rapid growth of the market under the current offensive of a number of independent new energy brands. Judging from the performance of its new energy business alone, FAW-Volkswagen has even relied on IDSAIC Volkswagen, which has a low price impulse, has left behind. However, it is important to note that ID4 and idIn addition to the 6 series, FAW-Volkswagen will also usher in its third IDProduct – ID7 vizzion。Pre-orders for the new car have already started on November 22, 23Although the surprise of 77.77 million yuan is not particularly big, the market heat of this joint venture medium-sized pure electric car is really not small, whether it is the car machine system, or the intelligent cockpit and intelligent driving system, etc., compared with the previous mainstream joint venture new energy models, IDThe 7 Vizzion is a big upgrade, and if you can finally give a more competitive official price, IDThe 7 Vizzion may also have the potential to help FAW-Volkswagen gain a foothold in the new energy market.
SAIC Volkswagen finally ended the long-term market trend of wholesale sales in November, achieving a year-on-year increase of more than 7% in November. Among them, idThe popularity of the series is the key reason. In November, SAIC Volkswagen IDThe family set a new sales high, with monthly sales reaching 1560,000 units, and cumulative sales exceeded 200,000 units. id.3 is SAIC Volkswagen IDThe market pillar of the family is also the new sales champion in the domestic compact pure electric market. Yes, if the Qin Plus only counts the sales data of the pure electric version, the performance in November is not as good as that of the ID3。The AION S has seen a significant decline in sales in the last two months, and the November sales were also ID3 left behind. November ID3 of the monthly sales reached 120,000 units.
id.3, **SAIC Volkswagen.
The situation of SAIC-GM-Wuling is also improving, although the market performance in November is still in a downward channel, but the decline in sales has continued to narrow, and in November it once again rushed to the market high of more than 100,000 units per month.
SAIC-GM-Wuling is also in the midst of a comprehensive new energy vehicle sales mix, with sales of new energy vehicles reaching about 70% in November, with a total of 71,143 new energy vehicles sold in November, making it the third highest selling car company after BYD and Tesla. At present, SAIC-GM-Wuling's highest-selling product is Wuling Binguo, with sales of more than 30,000 units in November. Next, the new car Starlight should be the focus of SAIC-GM-Wuling's market, the space is large enough, the design is clear, and the configuration is also the middle and upper level of the same level of products, and more importantly, the starting price is only 80,008, with the arrival of Starlight, the future domestic car market, is bound to further "roll down".
SAIC-GM is another domestic mainstream car company whose sales continue to decline, with monthly sales of 870,000 units, down 155%。However, for SAIC-GM, there is also good news in November, and its layout in the new energy market is finally going to bear fruit. SAIC-GM sold a total of 14,850 new energy products in November, doubling the year-on-year growth and compared with 10,003 units in October.
The reason for the sudden increase in sales is because the new version of Weilan 6 after the official drop began to run volume. In October this year, SAIC-GM launched the 2024 Micro Blue 6, and the official starting price was lowered to 11280,000 yuan, and then superimposed on the official **, the terminal price has come to less than 100,000 yuan.
Micro Blue 6, **SAIC-GM.
and id3The situation is similar, the low-priced micro blue 6 stimulates the market immediately, and in November, Buick micro blue 6 handed over more than 10,000 monthly deliveries. In addition, the starting price** has been lowered to 16The 990,000 yuan Buick E5 is also performing well at present, which has contributed to SAIC-GM's big step in the new energy market in November. Next, according to SAIC-GM's plan, between 2024 and 2025, 8 new energy models will be launched, and it is not impossible for SAIC-GM to enter the mainstream camp in the new energy market.