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Is the market share of independent new energy vehicles eroded?
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time:2020-09-18 11:11:54

Source: China Business News

"At present, in the first half of thenew energy vehiclesIndeed, the market share of joint venture brands is declining, and the share of joint venture brands is increasing. This is mainly related to subsidies, residents’ consumption power, and higher product power of joint ventures and foreign brands. "Cui Dongshu, secretary general of the National Passenger Car Market Information Joint Council, told reporters.

Statistics show that the share of self-owned brands has been eroded in half a year, and their share has dropped from 61.8% to 52.3%, while foreign joint ventures/joint venture imported brands have continued to expand, from 24.8% to 33.5%.

In the case of sluggish sales of self-owned brand new energy vehicles and declining market share, some analysts believe that related parts companies, especially power battery companies, are increasingly dependent on joint ventures and foreign brands.

For example, Guoxuan Hi-Tech recently released a semi-annual report showing that its net profit in the first half of the year fell by 90.25%. At the same time, some comments said that its products will be equipped with Volkswagen MEB platform in the future. In the first half of the year, revenue reached 989 million yuan, a year-on-year increase of 23.73%.

However, in the view of Zhong Shi, an automobile analyst, although the current sales and market share of independent new energy vehicles have declined, there have been no major fluctuations, and the overall situation is not serious. It is true that some battery companies are somewhat dependent on joint venture brands, but they are not leading companies. Small companies want to bundle large OEMs.

At the same time, as China’s new energy vehicles have ended their 12 consecutive months of sales decline and many policies support new energy vehicles, Cui Dongshu and Zhong Shi both believe that the current self-owned brand new energy vehicles are still optimistic and will continue to grow in the future.

Market share of independent new energy brands continues to decline

"The TOP10 sales of new energy vehicles in June last year were no longer all self-owned brand models. Nissan Sylphy EV and Kia K5PHEV appeared for the first time. From then on, it can be foreseen that the joint venture brand new energy vehicles will be under pressure." Industry observers told reporters.

According to the data from the Passenger Federation, the market share of self-owned brand new energy vehicles has been continuously eroded in half a year, and its share has dropped from 61.8% to 52.3%; the new forces in car manufacturing have declined first and then increased, rising from the lowest point of 11.7% to Today's 14.1%; foreign-invested joint ventures/joint venture imported brands have continued to expand, from 24.8% to 33.5%.

"This is a relatively interesting phenomenon. Before, everyone was arguing that the development of new energy vehicles could help my country's automobile industry to overtake at corners, but now the result is quite the opposite. From the perspective of sales alone, this overtaking configuration has failed. "Master Zhong said.

Cui Dongshu said that in the past six months, foreign investmentTeslaBrands such as Volkswagen and Toyota have continuously launched new products in the pure electric and plug-in hybrid markets. In addition, their original product strength and reputation are very good. Although independent brands have also adopted many measures, they have launched many in the first half of the year. New cars, but there is almost no competitiveness in the mid-to-high-end market, so the current sales of foreign joint venture brands are constantly on the market. Brands

The reporter noticed that in July, BYD sold 13,801 vehicles. Although it ranked first on the list, it was down 54.64% from the same period last year. Cumulative sales in the half year reached 54,758 units. SAIC’s passenger car sales were 4,026, ranking third, but it was down 92.50% from the same period last year, while Tesla ranked second with 11014 sales, and cumulative sales this year reached 54,758.

In terms of monthly sales, Tesla’s Model 3’s sales in July were 11,014, ranking first on the bicycle sales list, almost the last three, Aion S, Buick Weilan VELITE 6, BYD’s new Qin The total sales volume of EVs.

"In addition, in the first halfVolkswagenIn addition, SAIC and FAW-Volkswagen have sold more than 25,000 vehicles in total. In addition to the outstanding performance of Passat PHEV and Tiguan L PHEV, Magotan GTE, Tanyue GTE, Golf BEV, and Bora BEV also performed well. "The above observer said, "In addition to the stable sales of BMW Brilliance (5 Series PHEV), the poor sales performance of foreign joint ventures in China is gradually improving." From January to July, the sales of BMW Brilliance 5 Series PHEV were 12,986 units. , An increase of 33.2% year-on-year.

It is still optimistic and will continue to grow in the future

"With the increase in sales of joint ventures and foreign brands, many parts and components companies are now more dependent on them." The above-mentioned observer said.

Recently, Guoxuan High-Tech announced the half-year report for 2020. The report shows that the company achieved operating income of 2.422 billion yuan in the first half of the year, a year-on-year decrease of 32.85%, of which lithium battery business revenue was 2.241 billion yuan, a year-on-year decrease of 31.64%. The company achieved a net profit of 34.13 million yuan, a year-on-year decrease of 90.25%.

It is worth noting that on May 28, Volkswagen invested about 1.1 billion euros to obtain a 26.47% stake in Guoxuan Hi-Tech and became its major shareholder. Guoxuan Hi-Tech will have the opportunity to supply batteries to Volkswagen’s pure electric vehicles in the Chinese market in the future. product.

Guoxuan Hi-Tech also mentioned in the half-year report that in this strategic cooperation with Volkswagen China, the two parties will use equity as a link to leverage their respective advantages to enhance the company's core competitiveness in the new energy battery business.

Corun also recently released a 2020 half-year report. Due to the increase in demand for Toyota's hybrid equipment, its operating income in the first half of the year was 989 million yuan, a year-on-year increase of 23.73%.

It is understood that Corun is the sole supplier of Toyota's HEV battery industry in China. Its subsidiaries Changde Liyuan, Coba and Colimax have all entered Toyota's global supply chain system and become the upstream industrial chain of Toyota's domestic HEV. The exclusive domestic supplier of the corresponding link.

Data shows that the number of domestic HEV vehicles insured in the first half of the year increased by 16% year-on-year. Toyota, the leader of this technical route, also announced in early May this year that its global sales have exceeded 15 million vehicles and the domestic market has grown strongly. Among them, Kelimei achieved sales revenue of 789 million yuan in HEV vehicle power batteries in the first half of the year, a year-on-year increase of 27.25%.

In addition, parts companies that have become Tesla suppliers are also favored by capital and the market. For example, Tuopu Group, a Tesla supplier, has seen its share price rise sharply in recent years, and this year's increase has reached 126.2%. Tianfeng Securities predicts that in 2020 Tuopu’s revenue from Tesla will be 1.1 billion yuan, accounting for 18% of revenue; Tuopu’s revenue from Tesla will be 2.6 billion yuan in 2021, contributing revenue 30%. Minth also stated in its recent semi-annual report that it will supply Tesla as soon as the first half of next year, and it is expected to obtain more orders from automakers.

However, some analysts believe that this is not enough to indicate that parts and components companies or power battery companies are increasingly dependent on foreign capital and joint venture car companies. "It is more that small and medium-sized enterprises rely more on a single major customer. Compared with Ningde era and BYD, the customers of Ningde era include almost all vehicle companies. In contrast, Guoxuan High-tech’s market share is not It is tall and not very large, so it seems to be more dependent on the public." Zhong Shi said.

In addition, Zhong believes that the current market share of self-owned brand new energy vehicle companies is not low. Although the sales and market share of self-owned new energy vehicles have declined, there have been no major fluctuations, and the overall situation is not serious.

In addition, Zhong believes that the current market share of self-owned brand new energy vehicle companies is not low. Although the sales and market share of self-owned new energy vehicles have declined, there have been no major fluctuations, and the overall situation is not serious.

"In addition, in April, the Ministry of Industry and Information Technology and other relevant departments will clearly extend the implementation period of the new energy vehicle promotion and application of the fiscal subsidy policy to the end of 2022, which will also give self-owned brand new energy vehicles more adjustment periods." The above-mentioned observers said that at the same time, with the economic recovery, 2B orders such as online car-hailing and taxis will gradually increase, which will also help the growth of independent brand sales. Moreover, various companies will also launch blockbuster models in the second half of the year. Such as BYD Han EV, BAIC New Energy's ARCFOX, Chery S61, Great Wall White Cat, etc., all have strong competitiveness.