Among the independent brand manufacturers, SAIC and GAC have many similarities.
First of all, they are all state-owned enterprises based on first-tier cities, and each has a very strong joint venture brand; secondly, both independent brands rose at the peak of the SUV wave around 2015, but did not decline when the outlet stopped slightly, and stabilized in the second-tier camp; third, the products are more dependent on design, relatively lack of outstanding technical characteristics, brand powder and brand black are very few, and public opinion is general.
Of course, in terms of specific analysis, SAIC and GAC still have many differences, but considering that they are not core players in the market, let's synthesize a simple chat.
SAIC passenger cars
·825,000 units sold in batches in 2021, up 20.2% year-on-year and 3.9% market share
· Retail sales in 2021 were 531,000 units, up 16.3% year-on-year and 2.5% market share
According to the data of the Federation of Passenger Vehicles, the batch sales of SAIC Passenger Vehicles in 2021 reached 825,000 units, surpassing BYD and approaching Chery, but like Chery, SAIC motor is also a major exporter, with 290,000 of the 825,000 units exported to overseas markets. From the perspective of the amount of insurance in the domestic market, SAIC's roewe and MG brands sold only 531,000 vehicles last year.
Exports are mainly MG brand models, and the domestic market is naturally dominated by Roewe, with an annual insurance volume of 367,000 vehicles and MG 164,000 vehicles, and the size of the domestic market is less than half of Roewe.
The obvious difference from other independent brands is that in SAIC's two brands, the scale of car sales exceeds that of SUVs, of which Roewe's sedan model sales exceed 200,000 vehicles, and the brand's best-selling model is the i5, a car with a main sales of 80,000-100,000 yuan, which sold 113,000 vehicles throughout the year, and the average monthly sales volume has not exceeded 10,000.
This is not the norm in the past few years, its main SUV launched in mid-2016, the RX5, sold 231,000 units in 2017, and the Geely Boyue, Changan CS75, Trumpchi GS4 and other models at that time, all belonged to the camp second only to the Haval H6, but in the following years, sales continued to decline, to last year only sold 86,000 vehicles. During this period, although Roewe added RX5 MAX in 2019, it failed to reproduce the early glory of RX5, selling less than 20,000 vehicles last year, and the entire RX5 series added up to only more than 100,000 vehicles.
Fortunately, the Roewe i5, which was listed in October 2018, relies on the more prominent cost performance to gain a foothold in the 80,000-100,000 yuan sedan market, and the average monthly sales between 2019 and 2021 are maintained at about 10,000 vehicles, making up for Roewe's loss in the SUV market.
Back in the past 5 years, Roewe's sales volume hovered around 400,000 vehicles, on the surface there is no big decline, but the share of the 100,000-150,000 yuan SUV market has not been as good as before, the share of car products within 100,000 yuan is more than half, and the main price of the overall brand is actually gradually declining.
Compared with Roewe, MG's weakness in the SUV market is more obvious, with less than a quarter of the annual sales of 164,000 units, and the best-selling MG ZS, which only sold 22,000 units in the whole year. The main sales force of the brand is the MG 5 and MG 6 sedans, which together reach about 130,000 vehicles.
The price positioning of MG 5 is similar to that of roewe i5, but the product style is more sporty, with annual sales of 82,000 vehicles. From this point of view, adding up the Roewe i5 and MG 5, the scale of SAIC's car market between 70,000 and 100,000 yuan has reached about 200,000 vehicles, which has completely suppressed Chery and become a strong opponent of geely Emgrand series and Changan Yidong series.
GAC Passenger Vehicles (including GAC Aeon)
·In 2021, the batch sales volume was 444,000 units, an increase of 27.0% year-on-year, and the market share was 2.1%.
·Retail sales in 2021 were 438,000 units, up 28.5% year-on-year and 2.1% market share
Although GAC Aean has become an independent new energy brand, considering that it still belongs to the GAC Group, it will be analyzed together with the Trumpchi brand of GAC Passenger Vehicles.
Like the Roewe RX5 that rose in the same period, GAC Trumpchi's sales of the GS4 has also deteriorated since 2017, from 330,000 vehicles in 5 years to more than 80,000 vehicles in 2021, even if the GS4 Coupe and GS4 PLUS and other derivative models are added, the total number is less than 90,000, and the situation is even more bleak than the RX5.
Unlike Roewe, in the process of rapid shrinking SUV share, Trumpchi brand car products have not risen, and the overall scale has always hovered around 30,000-50,000 in the past 5 years, and the best-selling GA4 during the period only won 32,000 units at the peak of 2018.
However, last year, GAC Trumpchi still ushered in its first blockbuster car - Shadow Leopard, which abandoned the overly traditional styling style of the previous GA series cars and changed to a completely sporty orientation. Since its launch in August last year, Shadow Leopard sales have soared, selling 36,000 units in less than five months, and more recently in December, sales have reached 10,871 units, making it the best-selling model of the entire Trumpchi brand.
Despite the decline in the SUV lineup and the just beginning of the improvement of the sedan, Trumpchi's two MPV models, the M6 and M8, have taken on more than one-third of the share, with sales reaching 47,000 and 65,000 units last year, respectively, and their share in the passenger MPV market has surpassed the Odyssey + Alexon combination, second only to Buick, which owns GL8.
From 2017 to 2020, GAC Trumpchi's sales scale fell from 483,000 to 278,000 vehicles, but from 2021, Trumpchi's downward momentum was finally curbed, growing to 315,000 vehicles, although the gap with the peak period is still far, but the potential of the Shadow Leopard will not be fully released in 2022, and the GS8 that has just been replaced at the end of the year, after getting Toyota THS hybrid technology, the sales of the month rebounded significantly, and 2022 will undoubtedly become an important growth point.
Conservative speculation, GAC Trumpchi's sales scale this year is not difficult to exceed 400,000 vehicles, if there are more products to supplement, it is not impossible to return to the annual sales of about 500,000 vehicles.
As for GAC Aeon, taking advantage of the inflated growth of the new energy market, sales have doubled continuously in the past three years, from 27,000 vehicles in 2019 to 123,000 in 2021, of which AION S is the absolute main force, with annual sales of 72,000 vehicles, accounting for nearly 60%.
Gac Aeon's current sales scale is comparable to that of Great Wall's Euler, but its local market in Guangzhou accounts for a relatively large proportion, especially the AION S car, which has become the first choice for online ride-hailing drivers in Guangzhou, while in other large and small cities across the country, Aeon's presence needs to be improved.
This dependence on the local market can also support a certain sales growth in the short term, but the ultimate growth potential is limited, but the AION Y listed in April last year, the dependence on Guangzhou has weakened significantly, and the relatively new large-space MPV positioning has made it gain certain results in the real private consumer market.
brief summary:
In 2021, there are already 4 independent brand manufacturers selling more than one million, and BYD, which is growing rapidly, is also very likely to step into this rank this year. Compared with these manufacturers, the domestic sales scale is 400,000 to 500,000 SAIC and GAC, and in the short term, there seems to be no potential for leapfrogging classes.
However, with strong joint ventures as a backer, SAIC and GAC are much more relaxed in coping with market pressure, and the space for maneuvering is more abundant, compared with Dongfeng, FAW, and BAIC, SAIC and GAC are already rare in their own brands.
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