Editor's Note: Tesla is up! BYD up! The Great Wall Euler rises... Why are new energy vehicles "rising"? How much impact will it have on the future market? Weilai, ideals and not >>
By Nicole
Since entering this month, many new energy vehicle companies such as BYD and Tesla have successively announced price increases, of which Tesla has increased prices intensively 3 times in 8 days, and the price in the United States has been raised online:
First, the frequent price increases of new energy vehicles, why?
According to the statement of many car companies at the time of price increases, "raw material price pressure" is the most mentioned reason. On Sunday, Musk posted on social platforms that Tesla and SpaceX have felt huge inflationary pressures.
The image comes from the Internet
From the perspective of specific price data, the price of lithium carbonate, an important raw material for power batteries alone, soared during the year. The latest average quotation of the material last week has reached about 470,000-530,000 yuan / ton, at the beginning of this year it was 290,000 yuan / ton, and at the end of January last year, the raw material quotation was about 62,000-67,000 yuan / ton, an obvious increase.
Image source: Ping An Securities
At the same time, the recent C-bit "demon nickel" in the commodity industry is also one of the important materials affecting the cost of new energy vehicles. Last week, the LME nickel quotation of the London Metal Exchange soared from $29770 / ton to $100,000 / ton, which was transmitted to the cost of batteries, which will undoubtedly push up the cost of new energy vehicles.
Institutional data shows that the price of automotive consumer goods has long been signed: since December last year, the frequency of price increases for automotive consumer goods has ranked first among all major categories.
Image source: Western Securities
In addition to the soaring pressure on raw material prices, the decline in new energy subsidies and the continuous "chip shortage" since the epidemic are also considered to be important factors that have driven the price increase of car companies.
Second, how much impact will intensive price increases have on the future market?
In the past February, the wholesale penetration rate of new energy in the Chinese market reached 21.8%, a record high, of which the wholesale of new energy passenger cars was 317,000 units, an increase of 189.1% year-on-year, down 24.1% month-on-month, Zheshang Securities believes that the new energy vehicle market in February still continued to be super booming.
Image source: Zheshang Securities
In response to this round of collective price increases by new energy vehicle companies, most industry experts still believe that it will not have too much impact on the terminal market, and remain optimistic about the development prospects of new energy vehicles this year.
Ping An Securities commented on the price increase tide that the sales of new energy vehicles in January have not yet been fully affected by the rise in car prices, and car companies may delay price increases through preferential methods, consumers buy cars in advance, or cause some new energy vehicle demand to produce a certain overdraft in January, and it is expected to gradually digest the demand overdraft caused by price increases in February and March. However, in the long run, new energy vehicles are expected to maintain a high boom in 2022, and it is expected to achieve more than 50% growth compared with 2021.
In view of the future market, Zheshang Securities believes that the market share of new car-making forces, Tesla and head autonomy is expected to continue to increase this year, focusing on BYD $01211.HK, Geely Automobile $00175.HK, Great Wall Motor $02333.HK, and recommending xiaopeng $XPEV, ideal $LI and $NIO.
Third, will car companies have more price increases?
With Tesla, BYD and other leading new energy vehicle companies intensively increasing prices, the huge pressure of raw materials rising has gradually been more exposed in the public eye.
On Thursday, local time, Lucid, known as the "Tesla killer", said that its CEO Peter Rawlinson said that because of the huge inflationary pressure, the company is considering raising the price of future models, but at the same time will try to maintain the orders it has.
On Thursday, Beijing time, it was reported that Xiaopeng Automobile will increase its price after 12:00 pm this Sunday, with an increase of between 10,000 and 20,000 yuan, of which P7 will increase by nearly 20,000 yuan and P5 will increase by 10,000 yuan. In response to this, Xiaopeng responded that he had not received this news for the time being, and the follow-up was subject to the news on the official website or APP.
Xiaopeng P7 Image comes from Xiaopeng's official website
Cui Dongshu, secretary general of the National Passenger Vehicle Market Information Joint Association, previously said in an interview that the new energy market is in good condition, and there will be car companies that announce price increases next; the price increase of raw materials for new energy vehicles is a cyclical behavior, and the current general increase in car prices is also a reflection of the rise in raw material prices.
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