Cars
The new power automotive market is highly competitive: January 2024 delivery results and market dynamics analysis.
Introduction. At the beginning of the new year of 2024, China's new energy vehicle market ushered in a fierce competition pattern. In this uncertain environment, the new power car brands have announced their January delivery report cards, revealing new trends in the market. This article provides an in-depth analysis of these delivery results and related market dynamics, the reasons behind them and their implications.
1. Analysis of the delivery performance of new power automobile brands.
The New Power Auto brand has seen a number of high-profile situations on its January 2024 delivery report card. The first is Li Auto, a brand that was firmly in the monthly and annual delivery champion in 2023, but in January this year, its sales "stalled" and was overtaken by AITO. At the same time, the deliveries of a number of new auto brands fell sharply month-on-month, including Xpeng Motors fell by nearly 60%, NIO fell by 44%, and Leapmotor fell by 34%.
2. Overview of the top seven new power automobile brands in terms of delivery volume.
Among the top seven new car brands in terms of delivery volume, AITO Wenjie delivered 32,973 new cars, an increase of 34% month-on-month76%, surpassing Li Auto to become the new "sales champion". Li Auto followed with 31,165 new deliveries. ZEEKR Automobile, Leapmotor, NIO Automobile, Nezha Automobile, and Xiaopeng Motors followed separately, but they all showed varying degrees of month-on-month decline.
Third, the automobile market strategy.
In the face of increasingly fierce competition in the market environment, major new energy vehicle brands have increased their efforts on the eve of the Spring Festival. The industry generally believes that fighting the first battle in 2024 is still the main theme of the auto market. It was learned from a Weilai sales store in Beijing that the preferential range of Weilai models can reach 240,000 yuan to 530,000 yuan, of which ES7 has a discount of 5 after comprehensive subsidies30,000 yuan. Li Auto has also announced plans to reduce prices and update its models in response to market competition.
Fourth, the price reduction strategy and update dynamics of each brand.
Brands such as NIO and Li Auto have announced price cuts and the launch of ** models. Li Bin, chairman of NIO, said at the user communication meeting that this year should be carefully calculated, and the general direction of NIO is to carry out cost management. Li Auto is also planning to launch a facelifted model in March, so it is currently making a final wave of price cuts. Tesla has also started the first price cut in 2024, and from January 12, the ** reduction of the Model 3 Y shows the market's reaction and adjustment.
Fifth, the opening pressure of the auto market and the overall sales data.
Although the "good start" of the auto market in January every year is the direction of the joint efforts of local governments and car companies, the auto market in December last year was strong, which brought great pressure to the start of the auto market in 2024. According to the data, although domestic NEV sales increased by 92% from January 1 to 28 compared with the same period last year, they fell by 24% compared with the same period last month. This data reflects the uncertainty and challenges of the market, and also suggests that brands need to be more cautious in dealing with future market competition.
6. Brand competition and market development trends.
In the context of fierce competition in the new power automobile market, brand competition will become more intense. It is necessary not only to make continuous breakthroughs in product quality and technological innovation, but also to work sales strategy and service experience. At the same time, with the intensification of market competition, consumers will pay more attention to the credibility and reputation of the brand, which is crucial for the long-term development of the brand. Therefore, brands need to have a deep insight into market demand and flexibly adjust their strategies in order to remain invincible in the fierce competition.
VII. Conclusion. To sum up, the new power automobile market in January 2024 presents many new changes and challenges. The stall of Li Auto, the rise of AITO, the price reduction strategy of various brands, and the fluctuation of overall sales data all reflect the activity and complexity of the market. In this context, brands need to constantly adjust their strategies, seize market opportunities, and respond to competitive challenges in order to remain invincible in the fierce market competition.