As soon as we entered 2024, a number of independent brand car companies posted their report cards for 2023, although the sales of most car companies have increased, but from the perspective of the completion of the 2023 target, only a handful of car companies have achieved it. But that doesn't stop you from setting a bigger flag in the new year.
For the sales target in 2024, such as Changan Automobile, Guangzhou Automobile Group, and Geely Automobile, it is expected to increase by about 10% on the basis of sales in 2023, which is not difficult to complete under the steady force; However, in 2023, only BYD, Li Auto, and VOYAH have achieved their target sales among the brands of new energy vehicle companies, so it is challenging to achieve the target.
According to the China Association of Automobile Manufacturers, the production and sales of China's auto industry will achieve stable growth in 2024, and are expected to reach 31 million units, a slight increase of only about 3% year-on-year. Therefore, the industry can't help but ridicule that the sales target of car companies in 2024 is too high, and the capacity of China's auto market cannot be accommodated at all.
So, in 2024, what kind of flags do these car companies have? Let's witness it together.
Changan Automobile: 2.8 million units
In 2023, Changan Automobile's annual sales volume will be 25530,000 units, revenue 2424500 million yuan, a year-on-year increase of 128%。Among them, the sales volume of the independent segment was 20980,000 units, a year-on-year increase of 119%；New energy sales volume 4810,000 units, a year-on-year increase of 692%；Overseas sales 3580,000 units, a year-on-year increase of 439%。
Standing at the threshold of 2023, Changan Automobile regards the next two years as a "period of major opportunities", and proposes to hit the annual sales of 5 million vehicles by 2030 and become a world-class car company. As a new starting point for a new period of opportunity, Changan Automobile officially put forward the latest corporate development target at the Changan Automobile Global Partner Conference held on January 16, 2024: the group will sell 2.8 million units in 2024, which is the same as the target for 2023. In terms of details, the sales volume of the independent segment was 22040,000 units, 750,000 new energy vehicles, and 480,000 overseas sales.
It can be seen that 2024 will be a big year for Changan Automobile's new energy vehicles, so there will be 8 new energy products on the market throughout the year. In 2024, Changan Automobile will introduce more than 7 new energy products such as AVATR 11, LUMIN, and CD701 in the Southeast Asian market, and complete the construction of more than 530 channel contact points. In the European market, more than 5 new energy products such as AVATR 11, Deep Blue S7 and C327 will be introduced successively; And accelerate the entry into Australia, New Zealand, South Africa, Israel and other blank markets.
GAC Group: 2.75 million units
GAC Group recently announced the relevant information of the "Proposal on the 2024 Business Plan of GAC Group". GAC Group believes that 2024 is a key year to sprint to the goals of the 14th Five-Year Plan and accelerate the construction of a "trillion-dollar GAC", and will strive to challenge the target of 10% sales growth in 2024.
For the whole year of 2023, GAC Group has sold a total of 250 vehicles50,000 units, a year-on-year increase of 292%, and its annual sales of new energy vehicles were 54960,000 units, a year-on-year increase of 7755%。According to the GAC Group's target of a 10% year-on-year increase in sales, this means that GAC will achieve sales of at least 2.75 million units. It is reported that this goal is based on the sales structure of independent advancement, joint venture retreat, and substantial growth in the field of new energy.
In 2023, GAC Aion's total sales of new vehicles will exceed 480,000 units, making it the backbone of the group's new energy vehicles and contributing nearly 20% of GAC's sales. But there is also a haze hanging over this mainstay. Because of Aion's sales of 480,000, the B-end online car-hailing market contributed most of it. In 2018, when the domestic ride-hailing market was on the rise, GAC Aion seized this opportunity to achieve rapid sales growth. However, at present, Aion, which is overly dependent on the B-end market, has entered the "bottleneck" of sales growth, and the new high-end brand "Haobo" released is not performing as expected, so how to achieve the high-end of its new energy brand in 2024 is very important for GAC.
Geely Automobile: 1.9 million units
In 2023, Geely Automobile is one of the few car companies to achieve its annual sales target, with annual sales exceeding 1.68 million units, a year-on-year increase of about 18%, exceeding the annual target of 1.65 million units.
In Geely Automobile's development strategy, new energy vehicles play an extremely important role. In 2023, Geely Automobile will complete the strategic layout of "comprehensive new", highlighting the advantages of the intelligent electric vehicle manufacturing system, making new energy achievements repeatedly, and accelerating the transformation to "new". In December 2023, the sales volume of new energy vehicles (including Geely, Lynk & Co, Zeekr, and Ruilan) was 60,447 units, a year-on-year increase of about 36%, and a positive year-on-year growth for 11 consecutive months; The annual sales volume of new energy vehicles was 487461, a year-on-year increase of more than 48%.
For 2024, Geely Automobile has set a sales target of 1.9 million units, of which the sales target of new energy vehicles is about 800,000 units, an increase of more than 66%. Geely Automobile's continuous launch of full-stack self-developed new technologies and achievements will also deepen its new energy transformation.
Geely Automobile is also deepening in overseas markets, with a cumulative export sales volume of 27 in 202340,000 units, a year-on-year increase of more than 38%. At the same time, the product matrix in overseas markets is also expanding, and it has completed the launch of 10 models in 43 countries around the world, and has 532 sales and service outlets in 70 countries, as well as the establishment of a fourth subsidiary in the Mexican market.
Great Wall Motor: 1.9 million units
Great Wall Motor has also set a sales target of 1.9 million units in 2024. But unlike Geely, Great Wall Motors will only complete 77% of its annual target in 2023, with a cumulative sales of 123 for the whole year070,000 units, a year-on-year increase of 1529%。Among them, overseas markets and new energy are the two major supports for the growth of Great Wall Motors.
In 2023, Great Wall Motor's overseas sales will be 31600,000 units, a year-on-year increase of 8248%, a record high. With the successful launch of more global strategic models, up to now, Great Wall Motor's overseas sales have exceeded 1.4 million units; What's more worth mentioning is that Great Wall Motor's new energy sales doubled, with a cumulative sales of 26200,000 units, a year-on-year increase of 9874%。
2023 is a year for Great Wall Motors to accelerate its transformation to new energy, and has released a variety of new energy models such as Haval Thunder, Thunder MAX, Raptor, second-generation big dog PHEV, Wei brand Alpine and Blue Mountain DHT-PHEV, Ora 2023 Good Cat & Good Cat GT (Honor Ballerina, Lightning Cat Dark Night Edition, Tank 400 Hi4-T, 500 Hi4-T, Great Wall Pickup Shanhai Cannon PHEV and other new energy models.
For the target set by Great Wall Motor, UOB Kay Hian issued a rating report saying that Great Wall Motor's full-year sales rose 15% year-on-year to 1.23 million units last year, 23% lower than the target, and the group's sales target for 2024 was 1.9 million units, up 54% year-on-year, which is unlikely to be achieved because of the slowdown in the mainland passenger car market and intensified competition.
Li Auto: 800,000 units
Looking back on 2023, Li Auto will sell 37 for the whole year60,000 units, with a target of 125%. And as early as November, Ideal completed the annual sales target of 300,000 units ahead of schedule, reaching a completion rate of 109%. Li Xiang, CEO of Li Auto, also posted on Weibo, saying, "All the goals in 2023 have been achieved, and the challenge in 2024 will be higher: 800,000 vehicles (annual delivery volume (monthly delivery volume (monthly delivery volume of single model (high-speed + urban supercharging station)))".
This means that in order to achieve the annual target, Li Auto needs to achieve a 113% sales increase and an average monthly sales volume of 670,000 units. Previously, Li Auto said it would release and deliver four products in 2024, including one extended range model and three pure electric products. However, the launch of the flagship MPV Li Mega, which was originally scheduled to be launched in December 2023, has been postponed to March 1, 2024. Therefore, if this product is included, Li Auto will release 5 models in 2024, so this is destined to be the most abundant product year since its establishment.
2024 is the first year of parallel hematopoiesis of Li Auto's pure electric and extended range products, and it can be said that under the high goal of 800,000 annual sales, it faces both opportunities and challenges.
AITO: 600,000 units
Based on various information, AITO will hit the sales target of 600,000 units in 2024, which is shocking, after all, this is more than 6 times its annual sales in 2023. In 2023, the world will be delivered 9430,000 units, a year-on-year increase of 2389%, surpassing its 750,000 units sold, of which 48,552 units of the new M7 were delivered.
With the "best SUV within 10 million yuan" known as the M9 at the end of last year, there are currently M5, M7, M9 three models on sale, and in the second half of this year, there will be a new model M8 to join, at least four models will be on sale. According to the sales target of 600,000 units, the average monthly sales volume of Wenjie needs to reach 50,000 units. According to the released information, in January 2024, 32,973 new cars were delivered across the Wenjie series, an increase of 34% month-on-month76%, of which the 24-day single-day delivery exceeded 1,000, becoming the monthly sales champion of the new power brand in the Chinese market for the first time. The delivery of the new M7 reached a new high, with 31,253 new vehicles delivered in a single month, achieving a monthly delivery of more than 30,000 vehicles for the first time. Since its launch in September 2023, the new M7 has accumulated more than 140,000 units.
From this point of view, the new M7 will still be the main sales force of the Wenjie brand this year, and the M9 is also expected to bring greater support, and it will definitely break new highs after listing. The super-large 9000T integrated die-casting machine was first introduced in the smart factory of Sailis Automobile, and it was used for the first time on the M9, bringing higher integration, higher reliability, and more lightweight. It is reported that the smart factory of Sailis Automobile currently has a production capacity of 30,000 units per month, which can realize a new car off the assembly line every 30 seconds.
Leapmotor: 300,000-400,000 units
At the beginning of 2023, Zhu Jiangming made a prediction at the press conference of Leapmotor: "In 2025, the pattern of the automotive industry may have been decided, and there must be a place before this stage." If Leap's sales can't rise in 2023, there will be little hope for the future. This is Zhu Jiangming's judgment on Chinese automobiles, and it is also a "wake-up call" for Leap.
At that time, Leapmotor was in a downturn of declining sales and weakness, so Leapmotor did not dare to stop this year. In 2023, Leapmotor will achieve a target completion rate of 72%, with a total of 14410,000 units, a year-on-year increase of more than 29%, and the average monthly delivery volume exceeded 10,000, which may have crossed the "life and death river" of new energy vehicles.
For 2024, Leapmotor is confident. For the sales target in 2024, Zhu Jiangming previously revealed that he plans to exceed 300,000-400,000 units. Its confidence comes from the fact that it will launch a number of new cars in 2024, such as Leap C10 and C16, and more new products will be unveiled in the second half of the year. Another strength of Leapmotor comes from the global strategic partnership with Stellantis, which pioneered a new model of asset-light and reverse joint venture to go overseas, which has built a favorable platform for further promoting sales growth.
Nezha Automobile: 300,000 units
In 2023, Nezha Automobile's annual goal completion will only be 512%, and it is one of the few car companies whose sales have suffered a waterloo. In 2023, Nezha Automobile will sell nearly 130,000 units, only half of the target sales, and its sales volume will be "halved" in the last month of the annual sprint, showing negative growth month-on-month and year-on-year, and even showing a 16% decline in sales compared with December last year.
In 2024, Nezha Automobile's sales target is still 300,000 units, including 200,000 units in China and 100,000 units overseas, but it is still difficult to achieve a 136% increase this year to achieve the target.
Nezha Automobile has further clarified its development route for 2024, and in terms of new product creation, it will continue to create intelligent electric vehicles with differentiated competitive advantages, intensively launch a number of new models, including the first SUV Nezha L on the Shanhai platform, a new crossover model, plus 6 global models, and accelerate product iteration and upgrading; In terms of channel expansion, it will cover 60 countries and regions around the world, operate the products and services of the Yunhe Shanhai platform in different networks, and expand the number of overseas sales and service outlets to 300; In the overseas market, Nezha Automobile will plan to build factories in Southeast Asia, the Middle East and North Africa, Europe, the Americas and other regions, and implement localized manufacturing.
Xpeng Motors: 280,000 units
For Xpeng Motors, the first half and second half of 2023 are completely separated. He Xiaopeng used the words "subversion" and "nirvana" to describe 2023. At the beginning of the year, the monthly sales of Xpeng Motors fell below 6,000 units. The key turning point was the launch of the G6, and by the end of the year, Xpeng Motors had broken through the 20,000 monthly sales mark. In 2023, the cumulative annual sales volume of Xpeng Motors will be 14160,000 units, up 17% year-on-year. The completion rate is about 70%. However, if Xpeng Motors wants to return to the top three new car-making forces, it still needs to continue to work hard.
For the future, He Xiaopeng, CEO of Xpeng Motors, has both joy and sorrow. He believes that the next three years are the three most volatile ones, and they are also the three years with the most opportunities. The competition will become even more brutal, and only a few private enterprises will survive in the end. However, the automobile market is vast, and it will not be monopolized by one person, but will form a win-win situation for many people.
Although Xpeng Motors has not announced its sales target for 2024, many sources point to about 280,000 units, which is twice the sales volume in 2023. In 2024, Xpeng will launch 3-4 new cars that are more accessible to the people, the mid-size sedan codenamed F57, the A-class SUV codenamed F61, and the A+-class sedan codenamed F59, further expanding the product line, which will also help it achieve its sales target.
NIO: 230,000 units
In 2023, NIO will experience a series of troughs such as declining sales, price cuts, increasing losses, and layoffs, which have triggered the outside world to think about its "life and death". For the whole year of 2023, NIO delivered nearly 160,000 new vehicles, a year-on-year increase of 307%, but it is far from the sales target of 250,000 units set at the beginning of the year.
Like Xpeng, NIO has not announced its 2024 target. However, market sources show that its target sales in 2024 are around 230,000 units, an increase of 44%.
If so, it means that NIO is also the only brand to have lowered its full-year target compared to last year. In this regard, the industry said that the downward revision of the forecast is actually a pragmatic performance of the company, because the NIO brand will not deliver new products in 2024, but will continue to sell the eight cars currently on sale.