93,000 units! BYD's new energy vehicles exploded in January, and its stock price rose sharply

Everyday Finance exclusive, quick attention

In the first month of 2022, the sales of new energy vehicles in the mainland ushered in a good start! As a leading domestic new energy vehicle company, BYD's sales in January were extremely dusty, and the sales of new energy vehicles were 92,926 units, which doubled the "Xiaoli Nawei".

According to the relevant person in charge of BYD, the sales target of new energy vehicles in 2022 is 1.5 million units. It can be seen that January's single-month sales have reached 6% of the annual sales target.

As of the noon close of Hong Kong stocks on February 4, new energy vehicle stocks rose collectively. BYD shares rose more than 6%, Ideal Automobile rose more than 12%, Xiaopeng Automobile rose more than 9%, Geely Automobile and Great Wall Motor rose more than 2%.

Source: Wind

Sales of new energy vehicles in 2022 are on the rise

On February 3, BYD officially announced that it would sell 95,180 passenger cars in January, an increase of 126.1% year-on-year; new energy vehicles would sell 92,926 units, an increase of 367.6% year-on-year. Among them, 46540 DM models and 46386 EV models. The cumulative sales of new energy passenger cars exceeded 1.6 million units.

In terms of specific vehicles, in January, Han quan series sold 12,780 units, with cumulative sales of more than 170,000 units, of which Han EV increased by 8.1% year-on-year; Tang quan series sold 9,060 units, with cumulative sales of more than 300,000 units, of which the new generation of Tang DM increased by 481.3%; Song Quan series sold 22,449 units, with cumulative sales of 1.07 million units, of which Song EV increased by 3093.3%; Qin quan series sold 26,542 units, with cumulative sales of 530,000 units, of which Qin PLUSDM-i increased by 6.7% month-on-month. The sales of the whole yuan series were 8596 units, an increase of 1643.6% year-on-year, and the cumulative sales exceeded 230,000 units; the e-series sales of 4364 units, with cumulative sales of more than 80,000 units, of which e2 increased by 235.1% year-on-year; Dolphin sales of 10602 units, an increase of 5.9% month-on-month, and cumulative sales exceeded 40,000 units.

New car-making forces are also accelerating their catch-up. In January, Xiaopeng Automobile delivered 12,922 vehicles, an increase of 115% year-on-year, and the delivery volume exceeded 10,000 for five consecutive months; the ideal car delivered 12,268 vehicles, an increase of 128.1% year-on-year; Nezha Automobile delivered 11,009 vehicles, an increase of 402% year-on-year, and the single monthly delivery volume exceeded 10,000 for three consecutive months; Weilai Automobile delivered 9,652 vehicles, an increase of 33.6% year-on-year; the delivery of zero-run cars reached 8,085 units, an increase of 434% year-on-year, and the delivery volume increased by more than 200% for 10 consecutive months.

Soochow Securities expects that in 2025, domestic new energy vehicle sales will exceed 10 million, the penetration rate of electric vehicles will exceed 40%, and the compound growth rate will reach 54% from 2020 to 2025, corresponding to about 534GWh of domestic power battery demand in 2025.

Terminal prices have been raised

Affected by the price increase of upstream lithium ore and other battery raw materials, superimposed on the decline of new energy vehicle subsidies in 2022, automakers have recently channeled cost pressure through price increases.

On January 21, BYD official news, due to the sharp rise in raw material prices and the decline in new energy car purchase subsidies, BYD Automobile will adjust the official guidance price of new energy models related to Dynasty Network and Ocean Network, with an increase of 1,000 yuan to 7,000 yuan. The price adjustment took effect on February 1, and customers who signed up for the deposit before that were not affected by this.

Previously, Tesla has taken the lead in announcing price increases. On December 31, 2021, Tesla's official website in China showed that the price of the Model 3 rear-wheel drive version was adjusted to 265,652 yuan, an increase of 10,000 yuan compared with the previous price; the price of the Model Y rear wheel-drive version was adjusted to 301,840 yuan, an increase of 21,088 yuan compared with the previous price.

Soochow Securities pointed out that 2022 is a critical moment for new energy vehicles to carry forward the upper and lower levels, and the impact of price increases on demand in the first half of the year cannot be ignored, and the second half of the year attaches importance to the explosive force of supply and demand.

Edit: Yu Hongbo