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On the evening of April 3, BYD announced on the Hong Kong Stock Exchange that according to the company's strategic development needs, the company will stop the production of fuel vehicles from March 2022. In the future, in the automotive segment, the company will focus on pure electric and plug-in hybrid vehicles.
The announcement also pointed out that the company will continue to produce and supply fuel vehicle parts, continue to provide perfect service and after-sales guarantee for existing fuel vehicle customers, as well as the supply of spare parts throughout the life cycle to ensure worry-free travel.
On the evening of the same day, BYD also synchronized the news of the discontinued fuel vehicle through its official Weibo. Sparked a heated discussion. The topic was even once on Weibo's hot search. Many netizens said that the development of new energy vehicles has become a major trend, and after BYD officially announced the suspension of fuel vehicles, it may drive more car companies to follow up.
On April 4, in the Hong Kong stock market, BYD shares rose more than 8%, and the concept stocks of other new car-making forces such as Ideal and Xiaopeng also rose sharply.
Sales of new energy vehicles accounted for more than 98% in the first quarter
BYD's move to stop production of fuel vehicles did not exceed the industry's expectations.
On the evening of April 3, BYD released the March production and sales express. According to the announcement, in March this year, BYD's production and sales were 106,700 units and 104,900 units, respectively, of which the production and sales of fuel vehicles were "0". This means that in March this year, BYD's production and sales have been fully electrified.
From January to March this year, BYD's cumulative production and sales were 292,200 units and 291,400 units, respectively, an increase of 170.06% and 179.78% year-on-year. Among them, the production and sales of new energy vehicles were 287,500 units and 286,300 units, respectively, up 416.96% and 422.97% year-on-year. At the same time, in the first quarter of this year, BYD's new energy vehicle sales accounted for 98% of total sales.
According to a research report by Guosen Securities, as of February 2022, BYD's pure electric passenger cars and plug-in and mixed passenger cars accounted for 18% and 59% respectively, respectively, and the industry's leading position was solid.
Shanghai Securities analysis said that BYD relies on e3.0 and DM-i technology to accelerate the iteration of models, and the current sales volume is in a period of rapid growth, and it is expected that the annual sales volume of 22 years is expected to exceed 1.5 million vehicles.
Industry insiders judge that BYD's suspension of fuel vehicle production at this time will help the company focus all its energy on energy saving and pure electric vehicle models, which is more conducive to the company's scale expansion.
The penetration rate of new energy vehicles has increased rapidly
According to the China Association of Automobile Manufacturers, China's automobile production and sales in 2021 were 26.082 million units and 26.275 million units, respectively, ending a three-year decline since 2018, with a slight increase of 3.4% and 3.8% year-on-year. Among them, new energy vehicles continued to be supported by policies to grow rapidly, with annual production and sales of 3.545 million units and 3.521 million units, respectively, an increase of about 1.6 times year-on-year, and the annual penetration rate rose sharply by eight percentage points to 13.4%, and the single-month penetration rate in December was as high as 19.1%.
A number of car companies proposed a "timetable" for the suspension of production of fuel vehicles
Previously, a number of car companies have proposed a clear "timetable" for the suspension of fuel vehicles. Among them, Audi plans to start from 2026, Audi for the global market launch of new models will be fully switched to pure electric products, and no longer launch new fuel vehicles, even gasoline-electric hybrid models are not in the scope of consideration, its models will achieve 80% electrification, by 2033, Audi plans to gradually stop the production of internal combustion engines.
Volkswagen has said it will exit the European internal combustion engine market from 2033 to 2035 and plans to achieve "carbon neutrality" for all new production vehicles by 2050 at the latest.
Volvo and Ford plan to lock in full electrification in 2030, and Mercedes-Benz said that it is fully prepared for full all-electric by 2030.
6 new energy vehicle stocks pre-increased in the first quarter
Securities Times data treasure statistics, A-share 6 new energy vehicle concept stocks have announced the first quarter performance forecast, are pre-increase, including Yahua Group, polyfluoride, Shanshan shares, Xinjiubang is expected to increase by more than 100%, all related to lithium battery manufacturing.
Yahua Group is expected to have the highest profit growth rate, and the company is expected to achieve a net profit of 900 million yuan to 1.2 billion yuan in the first quarter, an increase of 1053.67% to 1438.22% year-on-year. The company said that the demand for lithium industry continues to rise, the price of lithium salt products continues to rise, the company seized the opportunity to release production capacity, increase sales, lithium salt product sales gradually increased, lithium business profits increased significantly.
Polyfluoride performance forecast shows that the company is expected to achieve a net profit attributable to the mother of 700 million yuan to 730 million yuan in the first quarter, an increase of 650.55% to 682.72% year-on-year. The company said that the development trend of the new energy industry continues to improve, the core product of the company's new materials business sector lithium hexafluorophosphate market demand is strong, with the new production capacity gradually reached production, profitability has increased significantly.
Most of the new energy vehicle stocks rushed to a high level at the end of last year, and there has been a general correction recently. Statistics show that among the concept stocks, only Xingyuan Material, Yahua Group, and Tuopu Group maintained a slight increase in the first quarter, and the rest of the cumulative rise and fall were negative, the average decline of concept stocks was more than 20%, and 10 shares such as Great Wall Motors, Jianghuai Automobile, and Hongfa Shares were retraced at more than 30%.
Source: Securities Times, Data Treasure
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