In the first month of 2024, the sales volume of new energy vehicles under the Wuling brand exceeded 410,000 units, 41,066 units. This is an increase of 1328. Sales doubled. Growth looks strong. But concerns have emerged. In January 2024, Wuling New Energy Vehicle added two main models compared to the same period in 2023, Wuling Binguo and Wuling Xingguang. Another point is that in January 2023, due to the Spring Festival holiday, the overall sales of cars will be **. The growth rate of Wuling's new energy vehicles has exceeded 1 times, which is not particularly good.
Last month, Wuling New Energy had three main models. They are Wuling Hongguang MINI EV, Wuling Binguo and Wuling Starlight. The three models contributed a total of 37,271 sales, accounting for 908%
The best-selling model is still the Wuling Hongguang MINI EV. The all-electric mini vehicle sold 15,520 units in January 2024. Although it is the best-selling model, the decline of the Wuling Hongguang MINI EV has been further revealed. The car's sales last month were compared to the 16,416 units sold in January 2023. Again, January 2023 is the Spring Festival holiday. Sales are even weaker than the Spring Festival holiday, which is worth being wary of.
Let's look at the sales of Wuling Hongguang MINI EV in 2023. Sales are less than 1The only months for 50,000 units are June and July. More and more competitors are deeply involved in the mini car market. Fierce competition and gradual saturation of the market are objective reasons that limit the sales of Wuling Hongguang MINI EV. After years of development, the car is not as fresh as it used to be. This also has an impact on sales.
The small car Wuling Binguo was another key model last month. However, sales of 11,746 units were less than 120,000 units. The performance was also not satisfactory. Wuling Binguo was launched in March 2023. April is the first full sales month. Even in June 2023, the worst performer, the car sold more than 120,000 units. In the last two months of 2023, the monthly sales volume has surpassed 230,000 units. Wuling Binguo failed to make a start in the first month of 2024. Further efforts are needed.
Of course, there is good news. The new model launched at the end of 2023, the sales volume of Wuling Starlight exceeded 10,000. 10,005 units were sold last month. The midsize sedan was launched in November last year. December is the first full sales month. Sales reached 8,550 units. Last month, sales improved, exceeding 10,000 units. The performance was quite positive.
Wuling Hongguang MINI EV, Wuling Binguo and Wuling Xingguang form a three-legged momentum. It has become the backbone of Wuling's new energy vehicle sales. Realistically, the possibility of Wuling Hongguang MINIEV returning to the highlight moments of previous years is not too high. Because the market environment is completely different. But to maintain the monthly sales of more than 10,000, there is no problem at present. The national favorability of the Wuling brand, as well as the cost performance of this car. This has supported the sales of this car.
Wuling Binguo this car, the overall performance is still okay. Of course, the two strong BYD models in the same market, Seagull and Dolphin, cannot be ignored. In order to get closer to sales, Wuling Binguo needs to further improve the cost performance.
Wuling Starlight's performance is quite surprising. Although it failed to become a phenomenal hit, the sales performance was positive. It has the potential to become a benchmark model.