On February 25, Ideal Auto announced the fourth quarter of 2021 financial report data. The content shows that the total revenue of Ideal in the fourth quarter of last year was 10.62 billion yuan, an increase of 156.1% year-on-year; of which the revenue from automobile sales was 10.38 billion yuan, an increase of 155.7% year-on-year. Meanwhile, the ideal ONE deliveries in the fourth quarter were 35,221 units, up 40.2% sequentially and 143.5% year-on-year.
In the whole year of 2021, the total revenue of Ideal Automobile reached 27.01 billion yuan, an increase of 185.6% year-on-year; of which the automobile sales revenue was 26.13 billion yuan, an increase of 181.5% year-on-year. Ideal ONE's full-year deliveries also reached 90,491 units, up 177.4% from 32,624 units in 2020.
It is worth mentioning that Ideal Auto achieved profitability in the fourth quarter of last year, with a net profit of 295 million yuan. However, the profit for the whole year was still in the loss, with a total loss of 322 million yuan. According to the ideal performance of the fourth quarter, the opportunity to achieve profitability this year is still very large, and the total revenue and car sales will also go up to a higher level.
The development situation of the domestic new energy vehicle market can be described as a good situation, and the data released by the Association of Automobile Associations shows that in 2021, the domestic new energy vehicle production will reach 3.545 million units, and the sales volume will reach 3.521 million units, an increase of about 1.6 times year-on-year, and the market share will also increase to 13.4%.
At the same time, China's share of new energy passenger cars in the world also reached 53%, and at one point it exceeded 60% in the fourth quarter of last year. More than half of the world's new energy vehicles are in China, and national policies are also encouraging the development of the new energy vehicle industry, with the continuous improvement of various types of infrastructure in the follow-up, the share of domestic new energy vehicles will certainly continue to rise, until it gradually replaces fuel vehicles.
Some institutions predict that the total sales of new energy vehicles in China this year may exceed 5 million. Today, major car companies are making efforts in the field of electric vehicles, BYD, as the market leader, has set an annual target of 1.2 million vehicles and 1.5 million vehicles, and Tesla's target is not estimated to be too low.
A number of new car-making forces led by Xiaopeng, Ideal and Weilai have also grown rapidly in sales, and many monthly sales have stabilized at more than 10,000 vehicles, and are charging towards 20,000 vehicles in a single month. In addition, domestic old car companies such as Great Wall, Geely and Changan, as well as international big-name car companies such as BMW and Mercedes-Benz, will also list many electric vehicle models in China this year, and the market competition has become more and more fierce.