Introduction |New energy penetration rate 30.8%
According to the risk figures, domestic new energy sales in February 2023 were 395,800 units, a year-on-year increase of 60.8% and a month-on-month increase of 34.9%, a year-on-year decrease compared with January, and a significant recovery trend.
Among passenger cars in the current period, the penetration rate of new energy vehicles reached 30.8% in February, which is the third time in history to exceed 30% and the second highest in history - second only to 33.0% in November 2022.
It is worth mentioning that this is the achievement after the "withdrawal of national subsidies", which once again shows that new energy vehicles are increasingly recognized and accepted by consumers, and the market has gradually changed from policy-driven to consumption-driven.
The market picked up significantly in February, which new energy is hot?
From the perspective of car companies, BYD won the sales championship again without suspense, and the result of 139,500 vehicles is unmatched - other car companies have less than a fraction of its sales. The year-on-year increase was 110%, the month-on-month increase was 18.3%, and the market share was as high as 35.2%, which means that one out of every three new energy vehicles sold in the current period was BYD.
With the help of new energy, stopping the sale of fuel vehicles is BYD's most sensible move. The focus on new energy has made BYD the sales champion of domestic car companies in 2022, and it has also made BYD once unanimously considered to be "wild words" - the first in China in 2015 has now been fulfilled, although it was achieved seven years late. At the same time, BYD's other goal of "being the world's first in 2025" was also achieved ahead of schedule last year if you look at new energy vehicles alone.
▲Image source: Cheju.com
In second place on the list is Tesla, with domestic sales of 34,064 units in February, up 40.9% year-on-year and 25.2% month-on-month. Although the performance is good, it is not as good as the overall level of the market. Combined with the impact of the quarterly factors of the month, it seems that the effect of Tesla's "price reduction" is not obvious, which also reflects the fact that the competitiveness of Tesla's products is becoming weaker.
Time has entered March, according to the usual will usher in Tesla's strong period, how much will its sales change by then? It is impossible to surpass BYD, so it depends on how much it can close the gap between the two.
Tesla was followed by SAIC-GM-Wuling, which ranked third in February with 32,099 unit sales, up 5.4% year-on-year and 64.6% month-on-month. Wuling New Energy sales are almost all contributed by Hongguang MINI EV, and being able to enter the top three with one model is enough to show the popularity of Hongguang MINI EV. However, the performance of low year-on-year growth also shows that consumption upgrades and increased competition have brought a lot of pressure to it.
GAC Aihui ranked fourth, with a record high of 28,823 units; At the same time, its 291.1% year-on-year growth and 256.3% month-on-month growth are at the top of the list. After a small trough in January, GAC AION quickly climbed to the top, and it seems that the limited-time promotional promotion launched by the official in February has a significant effect.
Changan, Geely and Chery ranked 5th, 7th and 10th respectively.
Among them, Chery's February NEV sales fell 44.4% y/y to 7,369 units, making Chery one of the few companies on the list whose sales declined. From the perspective of its products, Chery's new energy vehicle sales were mainly contributed by Chery QQ ice cream - sales of 4,413 units, accounting for 60%. But Chery QQ ice cream ushered in its biggest competitor - Geely Panda mini.
▲Geely Panda Mini official picture
On February 6, Geely Panda MINI was officially launched, launching two 200km and 120km endurance versions, a total of 4 models, with a price range of 39,900 yuan to 53,900 yuan.
Compared with Geely Panda mini and Chery QQ ice cream, the price of the two overlaps, the former has a more pleasing appearance, plus the wheelbase, configuration, and endurance are better than the latter. As a result, Chery's QQ ice cream sales lost somewhat, causing Chery's new energy vehicle sales to plummet, while the arrival of the Panda mini helped Geely New Energy's sales soar 131.5% to 15,120 units, jumping to seventh place.
Changan Automobile's February NEV sales were 18,461 units, up 141.8% y/y and 21.6% m/m, driven by new vehicle sales. Among them, Changan LUMIN sales returned to 11,140 units, accounting for 60% of sales; The second main force was the navy SL03, with sales of 3,004 units.
▲Image source: Cheju.com
Li Auto ranked 6th with 17,003 units, ranking first among new forces, and as L8 and L9 sales climbed, it may continue to lead new forces; The top 10 new forces on the list are NIO and Hezhong Auto, which ranked 8th and 9th respectively.
Among other car companies, it is worth mentioning Denza Automobile, which is only one step away from the top ten, ranking 11th with sales of 6,532 units, a year-on-year increase of 3742%. It has to be said that Denza was revitalized after its "return" to BYD.
Look at the model list. After three months, the Hongguang MINI EV returned to the championship in February this year with 30,200 units. It seems that the strength of the "veteran" still exists, and it also shows that the car is still cheap and easy to sell. The starting price of more than 30,000, the cost of using the car is also low, and the green plate is hung to meet the daily use of the car... Choose it, why not!
In addition to Hongguang MINI, Changan LUMIN and Panda mini are also paid by consumers. Changan LUMIN ranked ninth with sales of 11,140 units; The Panda MINI sold 7,019 units in the first month of its launch, ranking 16th, and as sales climb, it is also possible that the subsequent monthly sales will exceed 10,000 and be shortlisted in the top 10.
Tesla Model Y rose to second place, with 25,789 units sold in February, up 79.4% month-on-month; Model 3 fell out of the top 10 to 13, with sales down 35.5% m/m to 8,275 units. It cannot be said that Tesla's price reduction has no effect, only that the effect is not obvious. Look, the price of Model 3 is close to 200,000 yuan, but it can't be sold in January.
▲Image source: Cheju.com
Song PLUS, Qin PLUS, Yuan PLUS, and Dolphin in the third to sixth places, plus Han in the tenth place, BYD has five models in the top ten, and BYD's hot sales can be seen. Among them, the monthly sales of the three models of Song PLUS, Qin PLUS and Yuan PLUS exceeded 20,000 units, with 25,736 units, 23,951 units and 20,784 units respectively; Although the Dolphin sold less than 20,000 vehicles, considering that February was only 28 days, it was not a problem that it averaged 20,000 units in the following months.
AION S and AION Y ranked seventh and eighth respectively, with sales of 13,915 and 13,735 units in February. Thanks to the promotional activities in February, both vehicles increased by more than 200% year-on-year, and the growth rate was among the best on the list.
Car gathering summary
In February, the new energy vehicle market picked up significantly, more like the "red start" in 2023, while March, which has arrived, may usher in a more popular "golden period", with double subsidies from local governments and automobile companies stimulating market consumption. However, with the increasing fierce and cutthroat market competition, who will be the biggest winner?