The first quarter of car companies: some people sold 5 units to earn 1 unit, and some people's revenue and profit fell twice

China-Singapore Finance, May 8 (Ge Cheng) The automobile industry in 2022 can be described as "a bad start". Following the core "desolation" and lithium "vastness", the nickel "demon" came again. Wave after wave, wave after wave. In addition to the unfavorable factors of chip shortage and rising raw material prices, under the impact of the epidemic, the automotive industry chain has ushered in a "tide of suspension of production", and parts and vehicle companies have been severely frustrated.

On April 21, the domestic Tesla that had just stepped off the production line was parked in the factory in an orderly manner.　Photo by Yin Liqin

Recently, car companies intensively announced the first quarter of the financial report, China News Finance combed and found that among the top market value of car companies, Tesla, GAC Group, BYD, Changan Automobile net profit rose year-on-year, SAIC Motor, Beijing Motor, Great Wall Motor net profit fell year-on-year. At the same time, the revenue of various car companies has also risen and fallen, and the automotive industry has presented a situation of "ice and fire".

There are companies that sell 5 units and make money for 1 car

As the most profitable new energy vehicle company last year, Tesla's data on the profit margin of bicycles can be described as "riding the dust". In the fourth quarter of 2021, its gross profit per bicycle was as high as 30.6%, much higher than that of its peers in the industry.

In the first quarter of 2022, Tesla can be described as "further" in making money. According to the financial report, in the first quarter of 2022, Tesla's total revenue was $18.756 billion, an increase of 81% over the same period last year. Net profit was $3,736 million, up 255% year-over-year.

Supporting the above profits is Tesla's cumulative delivery of about 310,000 new cars in the first quarter. According to data released by Tesla, its gross profit margin for cars in the first quarter of 2022 reached 32.9%, and its net profit on bicycles reached 10,700 US dollars (nearly 70,000 yuan). According to its ASP (average sales price) of 52,100 US dollars (nearly 350,000 yuan), about 5 cars can be sold to earn 1 unit.

In addition, in terms of domestic car companies, BYD achieved operating income of 66.83 billion yuan in the first quarter of 2022, an increase of 63.0% year-on-year; and achieved a net profit attributable to the mother of 810 million yuan, an increase of 240.6% year-on-year. BYD's sales of automobiles were 291,400 units, of which new energy vehicles were sold 286,300 units. In the first quarter, the sales volume of fuel vehicles in all BYD models accounted for only 1.75%. In April, BYD announced that it will fully transform new energy vehicles and stop the production of fuel vehicles.

Some people are happy, and some people are worried

In the first quarter, the revenue and profit of car companies such as Tesla and BYD are still rising, and the increase is obvious. In contrast, some car companies experienced a decline in revenue and profit in the first quarter or no increase in revenue.

For example, Great Wall Motor's revenue in the first quarter was 33.619 billion yuan, an increase of 8.04% year-on-year; net profit was 1.667 billion yuan, down 0.34% year-on-year.

Saic Motor's revenue and profit in the first quarter of the year fell by 182.471 billion yuan, down 3.5% year-on-year; net profit of 5.516 billion yuan, down 19.44% year-on-year; net cash flow from operating activities also fell by 555.30% year-on-year.

In this regard, SAIC Motor explained in the financial report that this phenomenon was due to the expansion of the loan scale of its subsidiary, SAIC Motor Group Finance Co., Ltd., and the reduction in sales revenue due to the impact of the epidemic in the first quarter.

In the second quarter, the sales environment of car companies is expected to be more complicated and difficult

In the second quarter, the national passenger car market will face a more complex and difficult environment, which has become the consensus of the automotive industry. Cui Dongshu, secretary general of the Association, said that previously, the epidemic in Shanghai caused the automotive industry chain to temporarily stand still, causing huge losses to automobile production and sales, and the phenomenon of secondary parts supply interruption will seriously affect sales in the second quarter.

According to the China Automobile Association, in April 2022, the sales volume of the automotive industry is expected to reach 1.171 million units, down 47.6% month-on-month and 48.1% year-on-year.

SAIC Motor Group april production and sales express.

According to the SAIC Group Production and Sales Express, in April, SAIC Motor produced a total of 158,000 vehicles, compared with less than 40% of the output in the same period last year, and the impact of the epidemic on its production capacity can be seen.

In addition to the impact of the epidemic on the production and sales capabilities of car companies, Cui Dongshu stressed: "Under the epidemic, the sales of low-end fuel vehicles have declined, and consumers have stopped buying cars, rather than buying new energy vehicles." ”

Logistics capacity is recovering, who will become the dark horse?

On April 16, SAIC Motor, Tesla and other vehicle companies were included in the "White List" of the first batch of key enterprises in Shanghai, and some key auto parts suppliers including Mainland, Schaeffler, Valeo and Amber Fuchs were included in the "white list" of these vehicle companies, and the automotive industry chain has sounded the "rallying call" of recovery.

Recently, with the resumption of production of the automobile industry chain, some enterprises in Shanghai have gradually overcome the influence of unfavorable factors such as supply chain and logistics, carried out closed-loop operation and production, and achieved stable batch roll-off of the whole vehicle. SAIC Motor said that its vehicle companies are expected to gradually resume normal production in mid-May, and vehicle production and sales in that month will strive to reach the same period last year.

Cui Dongshu said: "Since the end of April, the automotive supply chain has gradually recovered, the number of vehicles with permits has increased, and several transport transit platform areas in the Shanghai area have been opened, realizing the opening of the national supply chain. ”

After the supply of parts and components resumed, some enterprises also burst out of vitality, and production capacity increased rapidly.

BYD production and sales report in April.

According to BYD's production and sales express, in April, BYD's vehicle production reached 107,400 units, more than double the same period last year. Analysts at Minsheng Securities said that BYD's market share is expected to further increase after it fully attacks the new energy field. (End)