In November, the sales of new energy vehicles grew rapidly, and the penetration rate of new energy vehicles in China increased steadily
From: Yuanda Information Research Institute.
Analyst: Wu Qidi.
Practice registration number: A0190523020001
Research Assistant: Hengfa Chen.
Practising registration number: A0190123040006
Release date: December 11, 2023.
Sales of new energy vehicles grew rapidly in November
In November, the retail sales of new energy vehicles were 8410,000 units, a year-on-year increase of 398%, an increase of 89%。Since the beginning of this year, the cumulative retail sales have been 68090,000 units, a year-on-year increase of 352%。In November, the wholesale sales of new energy passenger vehicles reached 9620,000 units, a year-on-year increase of 315%, an increase of 82%。Since the beginning of this year, a total of 777 wholesalers70,000 units, a year-on-year increase of 352%
In November, the penetration rate of new energy vehicles in China increased steadily
In November, the domestic retail penetration rate of new energy vehicles was 404%, an increase of 4 percentage points from the 36% penetration rate in the same period last year. In November, the penetration rate of new energy vehicles among domestic brands was 621%;The penetration rate of new energy vehicles in luxury cars is 309%;However, the penetration rate of new energy vehicles among mainstream joint venture brands is only 66%。In terms of monthly domestic retail share, the retail share of mainstream domestic brand new energy vehicles in November was 70%, down 6 percentage points year-on-yearThe share of joint venture brand new energy vehicles is 51%, an increase of 01 percentage point;The share of new forces is 151%, an increase of 1 year-on-year1 percentage point;Tesla share 78%, an increase of 4 year-on-year7 points.
Yuanda Information ** Institute Recommendations:
New energy vehicles: With the continuous improvement of the global penetration rate of new energy vehicles and the rapid development of intelligent vehicles, we continue to be optimistic about the trend of vehicle electrification, intelligence and lightweight.
Battery: It is recommended to pay attention to the following main investment lines: 1) Battery links with high barriers and profitability are expected to improve, it is recommended to pay attention to: CATL, BYD;2) Leading enterprises with tight supply and demand and strong bargaining power in key material links;3) Investment opportunities with new technologies with alpha (solid-state batteries, 4680, sodium electrical, composite current collectors, etc.) from O-1.
PV: Supply side: The Ministry of Industry and Information Technology plans to hold a photovoltaic symposium on November 13, focusing on guiding the layout of photovoltaic industry capacity and promoting high-quality developmentOn the demand side: the end of the U.S. interest rate hike cycle and the easing of Sino-US relations are expected to open up market space. It is recommended to pay attention to the layout of new technologies and leading companies in each link: 1) Module integration leaders LONGi Green Energy and JA Solar. 2) Equipment manufacturer with new cell technology: Jiejia Weichuang.
Wind power: Jiangsu 2021 Phase I bidding 2Substantial progress has been made in the 65GW stock project, and the Three Gorges Dafeng 800MW project and Guoxin Dafeng 850MW project have ushered in bidding and sea use rights publicity. This marks the lifting of the previous restrictive factors that have affected the progress of the project, and we expect that China's sea breeze is expected to enter an accelerated construction period. It is recommended to pay attention to companies with strong cost control capabilities, high technical barriers, and large megawatt benefits: 1) Complete machine manufacturers Haili Wind Power, Sany Renewable Energy, and Goldwind Technology. 2) Bearing: Changsheng bearing. 3) Submarine cable: Zhongtian Technology, Dongfang Cable.
Risk Warning
Policy is less than expected risk;The industry is not growing as expected;Raw material ** fluctuation risk;Competition in the industry has intensified.
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