Author 丨 Hao Qiuhui
Core ideas
Under the opportunity of change in the automobile industry, Chinese car companies will dare to think and dare to do it by 2022, as if they are masters of tricks, and the game is relaxed;
At present, car companies can calmly cope with the uncertainty of the external environment and break out of the world with a positive and high posture;
In 2022, Chinese car companies have become light chasers and boldly set sales targets, the essence of which is to believe that the car market has recovered, new energy is promising, and the road to the sea is unstoppable.
In recent years, the automotive industry is in the midst of a dramatic upheaval, with leaps and bounds almost every year.
In the past 2021, new energy vehicles accounted for more than 10% of China's auto market, lidar was installed in mass production models for the first time, Robotaxi scenario-based landing operation was officially opened, and major car companies have released carbon neutrality goals...
Time into 2022, what new changes will the automotive travel industry usher in? Where will the winds of the industry blow? Who is the most favored pearl in the palm of the capital market?
Yiou Automobile specially launched the special topic of "Nongyin Acceleration - Insight into the Development Trend of the Automobile Travel Industry in 2022" to find the investment trend, market segment trend and product development trend of the automobile industry in 2022 for the reference of industry insiders.
This article is the fourth in a series of articles - "Insights on the 2022 Development Goals of Chinese Car Companies".
01 Three state-owned car companies: FAW is striding forward, dongfeng is bolder
As three auto companies controlled by the State-owned Assets Supervision and Administration Commission, FAW, Changan and Dongfeng have grown into the mainstay of China's auto market.
In 2021, the total sales volume of the three companies exceeded 9 million vehicles, and the independent brands achieved a rise in sales and made layout plans for new energy vehicle products.
On January 18, FAW Group revealed that in 2021, it will sell 3.5 million vehicles, with operating income of 707 billion yuan, an increase of 1.4% year-on-year, and total investment in research and development of 21.42 billion yuan, an increase of 3.9% year-on-year, accounting for 3% of revenue.
As the eldest son of the Republic, FAW Group has risen with the development of China's automobile market, and its revenue has further increased. At a time when scientific and technological innovation dominates the automotive industry, FAW has increased its investment in research and development to accelerate the transformation and upgrading of car companies.
FAW's own brand Hongqi sales exceeded 300,000 vehicles, an increase of 50.1% year-on-year, and in the past four years, the FAW Hongqi brand has achieved 63 times growth from more than 4,700 vehicles to 300,000 vehicles per year.
Thanks to the positive feedback in 2021, Qiu Xiandong, director, general manager and deputy secretary of the party committee of China FAW, said that it plans to sell 4.1 million vehicles in 2022, an increase of 17.1% year-on-year; operating income of 770 billion yuan, an increase of 8.9% year-on-year.
In 2022, FAW plans to have a market share of 15%, r&D investment intensity of more than 3%, and strive to reach 3.5%, and its own brands will reach about 8%. This goal is undoubtedly another heavy task, and we must move forward courageously in the ups and downs of the market.
If FAW's goal is positive and strides forward, Dongfeng Group's sales target is a little bolder.
Based on the forecast of the development of China's auto market in 2022 and the development trend of the Group, the board of directors of Dongfeng Group initially set the sales target for 2022 at 3.471 million units, an increase of 25% compared with 2021, of which the sales target for passenger cars was set at 2.894 million units, an increase of 28% year-on-year, and the sales target for commercial vehicles was 577,000 units, an increase of 10% year-on-year.
Yiou Automobile learned that in 2021, Dongfeng Company sold 3.275 million units, of which 2.577 million units were sold in the passenger car field, mainly joint venture brands, accounting for 79% of sales, and sales of independent brands were 542,000 units, an increase of 32.2% year-on-year.
It can be seen that the record in 2021 has given Dongfeng Group the confidence to increase sales by 25%.
Changan Automobile's sales target is not yet fixed, and it needs to be approved by the board of directors and the shareholders' general meeting before it can be announced. But in 2021, Changan Automobile's performance is gratifying. Its group's cumulative annual sales exceeded 2.3 million units, up 14.8% year-on-year, of which Chinese brand car sales exceeded 1.75 million units, up 16.7% year-on-year.
New energy is one of the key development sectors of Changan Automobile. On January 24, Changan New Energy announced the completion of nearly 5 billion yuan of B round financing, and plans to launch three new cars in 2022, codenamed C385, A158, and C673, and plans to achieve a sales target of 700,000 units in 2025.
Yiou Automobile believes that in addition to Changan Automobile, FAW and Dongfeng still rely too much on joint venture brands in terms of sales and performance, and their own brands still have a large room for growth.
However, from the perspective of the sales targets of the three car companies, they are all in an optimistic state, invariably increasing research and development and investment, focusing on the development of independent brands and new energy vehicles, and are bound to lay a good foundation and make reserves during the conversion of new and old kinetic energy.
02 Three local car companies: SAIC takes the lead, and GAC meets the challenge
Among the three local car companies, SAIC, GAC and BAIC have become the main engine factories in East China, South China and North China, each of which has stirred up turmoil in the Chinese auto market with its own capabilities.
In the sales performance in 2021, although SAIC Motor group has a slight decline of 2.5%, it still sits firmly in the first position of Sales of Chinese car companies. In 2021, SAIC Motor's wholesale vehicle sales reached 5.464 million units.
Among them, SAIC's own brands sold 2.857 million units, accounting for 52.3% of total sales, new energy vehicle sales of 733,000 units, an increase of 128.9% year-on-year, and overseas market sales of 697,000 units, an increase of 78.9%.
SAIC Motor, which has always relied on joint venture brands, now has its own brands supporting half the sky, coupled with the breaking of the wall between new energy and overseas markets, it has taken another step closer to achieving its 2025 goal.
Although SAIC has not announced its sales target for 2022, the flag for 2025 has already been set.
In 2025, SAIC plans to achieve sales of more than 2.7 million new energy vehicles, accounting for no less than 32% of SAIC's vehicle sales, that is, the total sales target for 2025 is not less than 8.44 million units.
SAIC's goal is to take the lead among Chinese car companies in one fell swoop, and it has the courage to pull up the mountains and the world.
Compared with SAIC's bold words, GAC Group has given a low-key sales target of 15% year-on-year growth in 2022.
Compared with the high growth targets of other car companies, GAC is relatively conservative, but compared with the growth rate of GAC in 2021, it is actually a serious challenge.
In 2021, GAC's production and sales were 2.119 million units and 2.14 million units, up 4.1% and 4.7% year-on-year, respectively.
Seeing that GAC's growth rate is already weak, it needs to support new businesses and new products to support the target of 15% growth.
In 2022, BAIC Group will focus on its own brands and will hit the annual sales target of 1.3 million vehicles of its own brands, of which BAIC BJEV (including the Jihu brand) has a target sales volume of 300,000 vehicles.
As a key business of BAIC Group betting on new tracks, if it is played properly, BAIC BJEV may be able to fight for the second spring for BAIC Group.
Yiou Automobile believes that in the New Year's goals of the three local car companies, independent brands have become the core vocabulary, which is the target business for the development of the three and the key to supporting the rise of Chinese national automobile brands.
The rapid development of independent brands will eventually break the wrist with the joint venture brand in the market and win more market share.
03 Three private car companies: Great Wall, BYD competition compared to "generous"
Geely, Great Wall and BYD are the three representative car companies in China, all of which have devoted themselves to the car manufacturing industry when China's automobile industry was barren, and their self-created brands have stepped out of the independent development of Chinese car companies, and have also successively created a series of auto products belonging to China.
In 2022, Geely Automobile has set a sales target of 1.65 million units, compared with its sales target of 1.328 million units in 2021, an increase target of 24.2%, which is also a challenging sales target.
Seeing the outbreak of China's new energy vehicle market, Geely may have the confidence to cultivate new energy and export business as a pillar of growth.
In the field of new energy, Geely Automobile's total sales in 2021 were 100,000 units, an increase of about 47% year-on-year, and the cumulative export volume reached 115,000 units, an increase of about 58% year-on-year. With the blessing of new energy vehicle businesses such as Extreme Kr and export businesses, Geely may be expected to achieve its goals.
At the same time that Great Wall Motors released sales, it also showed a bright performance.
In 2021, Great Wall Motor's total operating income was 136.32 billion yuan, an increase of 32% year-on-year, net profit was 6.78 billion yuan, an increase of 26.5% year-on-year, and the average selling price of bicycles exceeded 106,000 yuan, an increase of 14.5% year-on-year.
From the above data, it can be seen that on the way to accelerate the transformation to a "global intelligent technology company", the Great Wall has not only stepped out of the former lifeline, but also lived better and better, achieving a counter-trend upward movement and brand upwards.
In 2021, Great Wall Motor sold more than 1.28 million new vehicles, an increase of 15.2% year-on-year, of which the cumulative sales of new energy vehicles reached 137,000 units, accounting for 10.7% of sales, and overseas sales of 143,000 units, an increase of 103.7% year-on-year, accounting for 11.1% of sales.
Yiou Automobile learned that in 2022, Great Wall Motors will not only accelerate the promotion of new energy for its brands, but also enter overseas markets, such as WEY Coffee 01 and tank series models will be listed and delivered overseas.
Under the spring breeze of new energy vehicles, BYD is a dark horse that runs out of the wind.
BYD's passenger car sales in 2021 were 730,000 units, up 75.4% year-on-year, and new energy vehicles were sold 594,000 units, up 231.6% year-on-year. The sharp growth rate makes BYD's New Year's goal particularly confident.
BYD recently revealed on an investor conference call that the company's new energy vehicle sales target in 2022 is about 1.1-1.2 million, and the sales growth rate is 80%-100%.
BYD, which has set this goal, can be described as a spring breeze, and the achievement of the goal at the end of the year is when BYD is satisfied.
Yiou Automobile believes that in 2021, the growth rate of overseas exports to a certain extent explains the trend of China's own brands going overseas.
With their own unique positioning, 2022 may accelerate the promotion of Chinese car brand overseas and to the world stage.
04 Three new forces: based on the present, let go of the future
At the time of the century-old transformation of automobiles, Weilai, Xiaopeng and Ideal are the three new car-making forces that resolutely and resolutely enter the game.
They are all outsiders in the automotive industry, because they see the opportunity for change in the industry, so they bet on the family to give it a go, and now the new car-making force "Sanxiu" proves that the route is correct with some achievements, and is no longer the "three fools" who once did not measure up.
New energy vehicles reached a historic high in 2021, which once again confirmed that the automotive industry has the potential to "dare to teach the sun and the moon for a new day".
NIO delivered 91,000 new vehicles in 2021, an increase of 109.1% year-on-year and doubled for two consecutive years. By the end of January 2022, NIO had delivered a total of 177,000 smart electric vehicles. For an emerging car company, WEILAI already has a place in the market.
Yiou Automobile learned that in 2022, NIO will deliver three new models; the second production base of NIO in the NeoPark Xinqiao Intelligent Electric Vehicle Industrial Park will be officially put into operation in the third quarter; globally, products and full-system services will be landed in Germany, the Netherlands, Sweden and Denmark.
Weilai's playing style is very clear, adhere to the global route, step on the east wind of intelligent electric vehicles, and make a global automobile brand.
This kind of car brand with cultural and creative atmosphere has differentiated itself from Xiaopeng Automobile and Ideal Automobile, and circled different audience groups.
In terms of sales, Xiaopeng Automobile is not to be outdone, and the total delivery volume of Xiaopeng Automobile in 2021 will reach 98,000 units, which is 3.6 times that of 2020. By the end of 2021, the cumulative delivery volume of Xiaopeng Automobile has exceeded 130,000 units in history.
It is reported that in 2022, Xiaopeng Automobile will ensure annual sales of 250,000 vehicles and impact 300,000 vehicles, which is like putting satellites, but in the unpredictable car market, it seems that everything is possible.
Different from the diversified product matrix of Weilai and Xiaopeng Automobile, Ideal Automobile sits firmly in the first echelon of new car-making forces with only one model. Yiou Auto understands that the ideal ONE delivered a total of 90,000 units, an increase of 177.4% over 2020.
Since its delivery, the ideal ONE has delivered 124,000 units. It is reported that the target sales of ideal cars by 2025 is 1.6 million units, as if there is another Geely pride within three years.
Yiou Automobile believes that the three new car-making forces have not yet come out of the line of life and death, there are strong enemies in front of them, and there are chasers in the back, and it is not easy to successfully jump into the winner of the automobile revolution.
However, under the opportunity of the times, the three new car-making forces are under the guidance of the goal, stick to the original intention, go with the trend, and let go of the future, and their success or failure will be answered in 2025.
05 Conclusion
Under the opportunity of change in the automobile industry, Chinese car companies will dare to think and dare to do it by 2022, as if they are masters of tricks, and the game will be relaxed and relaxed.
In 2022, Chinese car companies incarnated as light chasers and boldly set sales targets, behind which they believe that the car market has recovered, new energy is promising, and Chinese car companies are unstoppable.
This year's car companies have been able to calmly cope with the uncertainty of the external environment, explore a set of survival innovation rules, and break through a new world in the Chinese auto market with a positive and high posture.
The time has come, and the Chinese car companies that are riding on the momentum will surely break through the bamboo.