Towards the end of the year, the sales of car companies have entered the "sprint" stage. In order to attract consumers who had been waiting and watching before and complete the sales target set at the beginning of the year, some auto brands launched activities such as car purchase subsidies and limited-time discounts, which once again triggered a first-class war.
The competition in the auto market is making waves again.
On December 1, BYD officially announced that its dynasty network launched a fuel transfer activity. This discount involves some models of Qin, Han, Tang, Song and Yuan, of which the Han EV Champion Edition can enjoy up to 20,000 yuan of fuel transfer**, and the Qin DM-i Champion Edition is priced at 8 after the discount980,000 yuan, a new low.
Just a week ago, BYD stores announced preferential subsidies for their products. The new subsidy can be stacked with the preferential policy in early November. For BYD's two price reductions in one month, some industry insiders said frankly that "face is not as important as performance".
On December 4, SAIC Volkswagen announced that the year-end limited-time promotion will be opened. From now until December 31, 2023, the purchase of Tourang, Lavida, Tuyue, Passat, Tiguan L and other models can enjoy comprehensive preferential policies, with a maximum comprehensive discount of 580,000 yuan.
After several small price increases from September to November, Tesla also decided to "cut prices in disguise". In addition to providing insurance subsidies, low-interest loans are introduced. Among them, users who purchase the Model 3 Y rear-wheel drive version of the existing car before the end of this year and complete the delivery can enjoy a time-limited insurance subsidy of 8,000 yuan.
Less than 30 days after it was listed, the price of Jiyue 01 was reduced by 30,000 yuanThe ideal of monthly deliveries exceeding 40,000 units is also given as high as 360,000 yuan car purchase subsidy;The price of the whole dark blue series has been reduced, with a maximum reduction of 160,000 yuan ......According to incomplete statistics, this round of price cuts involves hundreds of models from dozens of companies.
In addition to various preferential activities of car companies and dealers, many places have also launched subsidy policies such as car purchase vouchers.
Suzhou City has launched a no-threshold digital RMB red envelope subsidy for car purchases, and those who purchase a car between 200,000 yuan and 300,000 yuan can receive a red envelope of 4,000 yuan, and those with more than 300,000 yuan can receive a red envelope subsidy of 6,000 yuan. Nanjing, Shenzhen, Changsha, Jinan and other places have also recently launched car purchase subsidy policies.
Work hard to meet annual goals.
According to the data of the China National Association, in the first 11 months of this year, China's automobile production and sales were completed 271110,000 and 2,69380,000 units, up 10% and 10% y/y, respectively8%, production and sales reached a record high in the same period in history. However, 441 is deductedAfter the export figure of 20,000 units, domestic car sales did not increase much.
At the same time, China's auto market is undergoing profound changes. New energy vehicles are accelerating the replacement of traditional fuel vehicles, independent new energy products are accelerating to seize the traditional advantageous market of joint venture brands, and the market space of non-luxury mainstream joint venture car companies with traditional fuel vehicles as their main products has been significantly squeezed. Some experts said that these traditional car companies only took a defensive position, although the share was retained, but the total amount fell. Only by not falling behind in the growing situation of new energy vehicles can we truly maintain our market share.
Judging from the sales data of the first 11 months, there are only a handful of companies that can achieve the annual sales target. Li Auto's sales target for 2023 is 300,000 units, with a cumulative sales volume of 32 in the first 11 months60,000 units, exceeding the annual sales target ahead of schedule. Geely's overall sales target for this year is 1.65 million units, and the cumulative sales of Geely cars in the first 11 months are 15360,000 units, according to Geely's sales in November, Geely will be able to achieve its annual sales target in mid-December, and annual sales are expected to exceed 1.7 million units.
Conversely, most companies struggle to meet their annual sales targets. At present, the completion rate of new power brands such as Weilai, Xiaopeng, and Leap is only about 50%;Among the traditional car companies, FAW, Dongfeng, SAIC, and Great Wall have only completed about 60% of the sales targets set at the beginning of the year.
Even if it is as powerful as BYD, it has to exchange price for volume. According to the data, BYD's cumulative sales in the first 11 months of this year were 268340,000 units. That is, only in December more than 31With sales of 70,000 units, BYD can achieve its annual sales target of 3 million units. Some analysts believe that the market competitiveness of BYD at the beginning of the year and the current BYD has changed, and the market share is being eroded by other car companies.
There is an oversupply and insufficient demand.
From the beginning of the year, Tesla fired the first shot of the automobile war, to Dongfeng Shenlong's "overturning the table of fuel vehicles", and then to the collective price reduction impulse of many car companies at the end of the year. This year's auto market war has a wide range, a large decline, a long time, and a deep impact, far exceeding the 2004 "North-South" Volkswagen joint price reduction and the 2008 international financial crisis.
* Determined by supply and demand, it is the main means of survival of the fittest in the market. Wang Du, assistant to the president of the China Automobile Dealers Association, analyzed that in fact, the "best war" in the auto market is only the surface, behind which is the contradiction between the oversupply and insufficient demand of the current automobile market.
On December 11, the China Association released the "2024 China Automobile Market Overall Report", which is expected to show that China's total automobile sales in 2024 will be about 31 million, passenger car sales will be about 26.8 million, and commercial vehicle sales will be about 4.2 million, of which the sales of new energy vehicles will be about 11.5 million and the export volume will be about 5.5 million.
Personally, I believe that judging from the current domestic market conditions, it is unlikely that the domestic auto market will have large-scale growth in the foreseeable future. Miao Wei, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and deputy director of the Economic Committee, said.
According to the data provided by the National Passenger Federation, by the end of 2022, China's automobile production capacity has exceeded 40 million. When the market far exceeds the actual demand, the price reduction activity will become the norm of competition in the auto market. Many industry insiders said that it is not realistic to end the automobile war in the short term.
Now is the era of fast fish eating slow fish, not the era of big fish eating small fish, if car companies do not rush up in the next 3 to 5 years, there will be no chance. Wang Chuanfu, chairman of BYD, believes that "in the next 3 to 5 years, the auto market as a whole or different subdivisions will continue to fight." ”
Li Xiang, CEO of Li Auto, said that the elimination of smart electric vehicles in the form of ** battle has begun and will last from 2023 to 2025. Li Bin, Chairman and CEO of NIO, emphasized, "The next two years will be the most competitive stage of change in the automotive industry, and the external environment is full of great uncertainties. In order to qualify for the finals, it is necessary to improve the efficiency of execution and ensure that there is sufficient stability of investment in key operations."
In addition to the imbalance of market supply, homogenization is also the cause of the war. Xia Yiping, CEO of Jidu and Jiyue, called on the industry to roll up in technology, product innovation and experience, and build the core competitiveness of car companies through differentiation. Only enterprises with unique differentiation can find opportunities in industrial transformation and achieve sustainable development.
*:Economy**.