The main information comes from the daily news of the Passenger Association, etc
Website: http://www.cpcaauto.com
1. Overview of this week's auto market
1. In April 2024, the retail sales of the national passenger car market did not start strongly
【April 1-14, 2024 Market Analysis News】
From April 1 to 14, the wholesale of passenger car manufacturers nationwide was 534,000 units, an increase of 13% year-on-year and a decrease of 9% from the same period last month, and a total of 6.128 million units were wholesaled this year, an increase of 11% year-on-year. From April 1 to 14, the market retailed 516,000 vehicles, down 11% year-on-year and 3% month-on-month, and 5.348 million units have been retailed this year, up 10% year-on-year.
From April 1 to 14, the national passenger car manufacturers wholesaled 268,000 new energy vehicles, an increase of 43% year-on-year and 8% over the same period last month, and a total of 2.219 million units wholesaled this year, an increase of 32% year-on-year. From April 1 to 14, the retail sales of new energy vehicles were 260,000 units, an increase of 32% year-on-year and 2% month-on-month, and the cumulative retail sales of 2.032 million units this year increased by 34% year-on-year.
In the first week of April, the national passenger car market sold an average of 34,000 units per day, down 8% year-on-year in April last year and 4% month-on-month.
In the second week of April, the national passenger car market sold an average of 39,000 units per day, down 13% year-on-year from April last year and 3% month-on-month.
From April 1 to 14, the market retailed 516,000 vehicles, down 11% year-on-year and 3% month-on-month, and 5.348 million units have been retailed this year, up 10% year-on-year.
The continuous series of model price reductions that began after the Spring Festival in February this year, coupled with the fact that new energy models launched from 2022 onwards have entered the stage of product facelift and upgrade, this expectation has aggravated the wait-and-see mentality, and consumers hope to wait for the car market to stabilize before buying a car. With the recent launch of Xiaomi cars and the further adjustment of the prices of a new round of related models, and April is the intensive release period of new models, the market's consumer enthusiasm will be gradually stimulated.
Due to the impact of the Qingming holiday in early April, sales in the first week were generally not high. Recently, the Ministry of Commerce and 14 other departments jointly issued the "Action Plan for Promoting the Trade-in of Consumer Goods", which has aroused huge attention and good expectations from consumers. The expectation of the Beijing Auto Show and trade-in triggered the continuation of the wait-and-see sentiment in the market, which brought a consumption backward effect to the auto market in April. At present, the average daily retail sales of the market in the second week increased by a small month-on-month, and fell more sharply year-on-year, indicating that everyone still has great expectations for the policy.
2. In 2024, the sales of passenger car manufacturers in China will recover steadily
The average daily wholesale volume in the first week of April was 32,000 units, an increase of 13% year-on-year in April last year and a decrease of 10% month-on-month.
The average daily wholesale volume in the second week of April was 43,000 units, an increase of 13% year-on-year in April last year and a decrease of 8% month-on-month.
From April 1 to 14, the wholesale of passenger car manufacturers nationwide was 534,000 units, an increase of 13% year-on-year and a decrease of 9% from the same period last month, and a total of 6.128 million units were wholesaled this year, an increase of 11% year-on-year.
Due to the sharp decline in inventories of manufacturers and channels before the Spring Festival, manufacturers' production resumed in March, resulting in a trend of replenishment of inventories at the end of March in which manufacturers' output was flat compared to wholesale, while manufacturers' domestic wholesale was higher than retail sales by 100,000 units. With the completion of the replenishment in March and the weak start of the market in April, dealers have a strong sense of self-protection to reduce inventory, and the purchase is relatively stable. With the trend of the auto market in the off-season in 2023, the auto market at the turn of spring and summer after May this year should also have a stronger trend than the seasonal pattern.
The "trade-in" pro-consumption policy has experienced many meetings and clear announcements since the end of last year, and consumers' attention and expectations for the policy are very high. Many consumers generally buy a house after buying a car, due to the wealth effect of the property market, before 2016 has bought a car group of consumption power is stronger, this time there is no rigid time requirement for the car group to buy the group, the purchase of the group is more flexible, so the future "trade-in" to drive car consumption has great potential. Manufacturers' sales will also show a good trend in the off-season.
3. In the first quarter of 2024, the added value of the automobile industry will be 9.7%, and the capacity utilization rate will be 64.9%
According to the National Bureau of Statistics, in March, the total retail sales of consumer goods reached 3,902 billion yuan, a year-on-year increase of 3.1%. Among them, the retail sales of consumer goods of automobiles were 405.2 billion yuan, down by 4 percent, and the retail sales of consumer goods other than automobiles were 3,496.8 billion yuan, up by 3.9 percent. From January to March 2024, the total retail sales of consumer goods 120327 billion yuan, a year-on-year increase of 4.7%. Among them, the retail sales of consumer goods of automobiles were 1,116.3 billion yuan, up by 4 percent, and the retail sales of consumer goods other than automobiles were 109163 billion yuan, up by 4.7 percent.
In March, the added value of industrial enterprises above designated size increased by 4.5 percent year-on-year, of which automobiles increased by 9.4 percent; from January to March, the added value of industrial enterprises above designated size increased by 6.1 percent year-on-year, of which automobiles increased by 9.7 percent.
In the first quarter of 2024, the national industrial capacity utilization rate above designated size was 73.6%, down 0.7 percentage points from the same period last year and 2.3 percentage points from the previous quarter. The automotive industry was only 64.9%, down 7.1 percentage points from the same period, and the automobile capacity utilization rate was low, and the pressure on manufacturers was huge.
In 2023, the relationship between car sales and real estate sales is 37 square meters of house/1 car, and it will continue to decline to 34 square meters of house / 1 car at the beginning of 2024, and the comparative relationship between house and car sales has improved slightly, which is more reasonable than the peak of 70 square meters of one car in 2020. Due to the debt squeeze, the demand for the auto market is relatively sluggish, as the only consumer goods that have not been popularized by urban and rural households in China, the overall trend of the national passenger car market has picked up in recent years, and the consumption of passenger cars has gradually improved.
4. Pickup market analysis, March 2024
In March 2024, the national pickup truck market sold 51,000 units, an increase of 7% year-on-year in March 2023 and 53% month-on-month in February, which is at a mid-to-high level in the past five years. Since the base of pickup trucks in March last year was not high, it is normal for the growth rate to be good this year. From January to March this year, the sales volume of pickup trucks was 128,000 units, a year-on-year increase of 6%, compared with the overall year-on-year increase of 2% for light trucks, and the pickup truck industry performed well.
As the effect of pickup trucks entering the city is far less good than the effect of going to the countryside, the false proposition of pickup trucks entering the city is highlighted. Markets in the northwest and northeast continue to strengthen, and the demand for pickup trucks in cities with purchase restrictions and traffic restrictions is sluggish. Due to the lack of production of international car companies, the contradiction between supply and demand, the relationship between China and Europe and the United States has remained good, and the overseas market demand for Chinese automobiles has skyrocketed, which has promoted the continuous growth of China's pickup truck exports since 2022, and exports from January to March 2024 still show a good growth trend of 76% year-on-year, among which the export performance of Great Wall, Changan, SAIC Maxus, and JAC is super strong.
Pickup truck production in March this year was 51,000 units, an increase of 11% year-on-year, pickup truck sales increased by 7% year-on-year, and pickup truck exports increased by 122% in March. Under the environmental pressure of the real estate downturn, the production and sales of pickup trucks in China will be relatively stable in 2023 due to the contribution of exports. The performance of the domestic pickup market is relatively stable, especially the proportion of pickup sales in the county and township markets has increased steadily year-on-year, effectively offsetting the shrinkage of pickup trucks in large cities.
Compared with the popularity of exports, the year-on-year growth of domestic sales of pickup truck manufacturers in March was weak, mainly due to the impact of the high base in March after the Spring Festival last year. Great Wall Motors continued to maintain a strong pickup leader, and performed well at home and abroad. The performance of Great Wall pickup, Jiangling Motors, Zhengzhou Nissan, and Jiangxi Isuzu in the domestic pickup market continued to be strong. The export market fluctuates greatly, some pickup truck companies seize the export opportunity to achieve a strong increase, SAIC Maxus, Great Wall pickup, JAC, Changan Automobile export scale is huge, exports account for more than 3% of the total number of some manufacturers. The trend of pickup trucks, the traditional main manufacturers in the domestic retail market, is still relatively stable. The pattern of the domestic pickup truck market is relatively stable, and the pattern of the top three pickup trucks of Great Wall, Jiangling, Zhengzhou Nissan and Jiangxi Isuzu continues to remain stable. The domestic electric pickup truck market has gradually started, and electric pickup trucks such as Geely Radar have gradually cultivated the market.
5. The price war was strong in the first quarter
In the past few years, the price war in the national passenger car market is generally about 4 points higher than the promotion growth level at the end of each year compared with the end of the previous year, but the price war in the national passenger car market will continue to be fierce in 2024. New energy prices have been drastically reduced, but fuel vehicles have reached a certain bottom line due to the current promotion, so the formation of new energy alone price reduction cannibalization of the fuel vehicle market.
At present, there are not many models with price reductions as of March, mainly new energy vehicles. In late March, there were some follow-up phenomena of fuel vehicles, but the price fluctuations of fuel vehicles in the market are still normal.
The number of models with price reductions in the first quarter of 2024 has exceeded 6% of the number of models in the whole of 2023, which is equivalent to the total scale of price reductions in 2022. The main impact on price reductions is new energy vehicles such as pure electric vehicles and plug-in hybrids, and the price reductions of fuel vehicles are very rare.
From the perspective of the pace of price reductions, the price reductions in 2023 are generally relatively balanced, but the price reductions in 2024 have reached a super level in February and March, with 27 models cutting prices in February and 37 models in March, which is also an astonishing level relative to history.
The first quarter of 2024 saw a relatively strong wave of price cuts, and in March it reached a historically rare number of 37 models. Among them, independent and new forces are the main force in price reduction, and joint ventures have fewer price reductions. According to the trend logic of last year, after the price reduction, it will usher in a sustained growth trend from the future to the end of the year, and it is expected that the consumption in the future can be released with more confidence.
6. Scrapping, renewal and trade-in to promote the high-quality development of automobile consumption
Recently, the Ministry of Commerce and other ministries and commissions jointly issued the "Notice on the Implementation of the Trade-in of Consumer Goods", which is the implementation of the spirit of the Central Economic Work Conference, the Fourth Meeting of the Central Financial and Economic Commission and the National People's Congress of the People's Republic of China.
The document proposes: first, the central government and local governments will work together to arrange funds to support the scrapping and renewal of automobiles, and encourage qualified localities to support the replacement and renewal of automobiles; second, encourage financial institutions to appropriately reduce the down payment ratio of auto loans under the premise of legal compliance and controllable risks; third, accelerate the transformation from purchase management to use management, and promote the optimization of automobile purchase restrictions in relevant areas.
The direction of the scrapping renewal and trade-in policy is very clear, seizing the new trend of scrapping in the market, promoting the convenient operation of second-hand cars, and the growth potential of automobile consumption is huge. It is estimated that nearly 10 million scrapped cars will be scrapped in 2024 and 15 million in 2027. The used car transaction will exceed 20 million units in 2024 and reach 27 million units in 2027.
With the implementation of the subsidy implementation rules for scrapped and updated vehicles in the future, the requirements for scrapped vehicles, the scope of subsidized models, and the amount of subsidies will be further clarified. It is expected that there will be more real money subsidy policies to promote scrapping and renewal and trade-in, and stimulate the release of consumption.
2. New cars will be launched this week
1. Zhiji's second sedan, the L6, was released, and all models are equipped with a Greylizard digital chassis and a rear-wheel steering light-year solid-state battery
On April 8, during the press conference of Zhiji L6 super smart car, Zhiji's second car, Zhiji L6, was officially unveiled. It is equipped with a smart digital chassis named "Skinkling" and a solid-state battery named "Light Year" for the first time, with a peak charging power of 400kW, an increase of 400km in 12 minutes of charging, and a CLTC range of more than 1,000km.
2. The new Xpeng G6 model was launched
On April 11, the Xpeng G6 580 Long Endurance Plus version was officially launched, with a limited-time preferential price starting at 179,900 yuan. The exterior dimensions and interior design are largely the same as the current model, with the elimination of the heated steering wheel and seat ventilation functions, and the 18-speaker Xopera audio system being replaced with an 8-speaker audio system. New Midnight Black exterior and soft beige interior colors have been added.
3. Baojun Yue Plus is also listed
On April 12, Baojun Yue Plus was officially launched, with a price of 93,800-103,800 yuan. The whole series is equipped with a front-mounted permanent magnet synchronous motor with a maximum power of 75kW and a maximum torque of 180Nm, a 41.9kWh lithium iron phosphate battery pack, a maximum speed of 150km/h, a CLTC range of 401km, and support DC fast charging and 220V external discharge.
On April 12, the 2024 model of Baojun Yue was officially launched, with a price of 80,800-90,800 yuan. The model is equipped with a front-mounted permanent magnet synchronous motor with a maximum power of 50kW and a maximum torque of 140Nm, a 28.1kWh lithium iron phosphate battery pack, a maximum speed of 100km/h, a CLTC range of 303km, and DC fast charging.
4. Changan Qiyuan A05/Q05 new version was launched
On April 12, Changan Qiyuan A05 True Fragrance Edition/Q05 True Fragrance Edition was launched. All of them are equipped with digital intelligence AI electric drive 2.0, with iEM power control system, quad-nuclear power engine controller, 10-layer flat wire motor and other technologies, which can switch plug-in hybrid and range extension modes according to different situations.
5. Touron's outstanding model is launched
On April 7, the Touron was launched, with a total of seven new models and prices ranging from 249,000 to 389,000 yuan. The exterior is basically the same as the current model. It is equipped with a 2.0-liter and 2.5-liter engine mated to a 7DSG gearbox.
On April 7, the Tourang X was launched, with a total of five new models and prices ranging from 269,000 to 379,000 yuan. The exterior is basically the same as the current model. It is equipped with a 2.0-liter and 2.5-liter engine mated to a 7DSG gearbox.
6. Chery QQ Ice Cream Youth Edition was launched
On April 8, the QQ Ice Cream Youth Edition was launched, with a total of 4 new models and a price range of 29,900-43,900 yuan. The exterior is basically the same as the current model. Equipped with an all-electric motor, it has a combined NEDC range of 120 km and 205 km.
On April 8, the Chery Little Ant Youth Edition was launched, with a total of 5 new models and a price range of 59,900-74,900 yuan. The exterior is basically the same as the current model. Equipped with an all-electric motor, the CLTC has a combined range of 251 km and 321 km.
7. Zhijie S7 was newly launched
On April 11, Zhijie S7 was newly launched at the "Huawei Hongmeng Ecosystem Spring Communication Conference", with a sale starting at 249,800 yuan. Compared with the previous version, the price of the entry-level version remains unchanged, the battery capacity is increased by 20 kWh, and the price of other configurations is reduced by 20,000 yuan. The basic version of HUAWEI ADS was first launched on the Pro model.
8. BMW 5 Series new model launched
On April 10, the BMW 5 Series launched a new model, with a total of 2 new models and a price range of 505,900 yuan. The exterior is basically the same as the current model. It is powered by a 2.0-liter engine mated to an 8TIP gearbox.
9. Blue Electric E5 Glory Edition was launched
On April 10, the Blue Electric E5 Glory Edition was launched, with a total of 6 models and a price range of 99,800-121,800 yuan. The exterior is basically the same as the current model. It is equipped with a plug-in hybrid system consisting of a 1.5-liter engine and an electric motor, mated to an E-CVT transmission.
10. 路虎揽胜运动版 SV Edition One 车型上市
The all-new Range Rover Sport SV Edition One was officially launched on the 12th, with an official guide price of 2.438 million yuan, and a limited sales of 15 units in Chinese mainland. As a high-performance version of Range Rover Sport, it is made of a large number of lightweight materials, offers dynamic hydraulic suspension and is powered by BMW's 635hp 4.4T twin-turbo V8 engine.
11. The new Lynk & Co 01 was launched
On April 11, the new Lynk & Co 01 was launched, with a total of 4 new models and a price range of 155,800-196,800 yuan. The exterior is basically the same as the old model. It is powered by a 2.0-liter engine mated to an 8TIP gearbox.
12. New Subsection SMART Finery #3 Launched
On April 14, the new smart Elf #3 was launched, with a total of 3 models and a price range of 164,900-219,900 yuan. The exterior is basically the same as the old model. Equipped with an electric motor, the CLTC has a combined range of 415 km, 520 km, and 555 km.
On April 14, the new smart Elf #1 was launched, with a total of 3 new models and a price range of 154,900-199,900 yuan. The exterior is basically the same as the old model. Equipped with an all-electric motor, the CLTC has a combined range of 400 km and 535 km.
3. Macroeconomics and policy
1. Ministry of Finance: The central government will focus on supporting the promotion of car trade-in
On April 11, Fu Jinling, director of the Department of Economic Construction of the Ministry of Finance, said that the central government will focus on supporting the promotion of car trade-in. Consumers who scrap high-emission passenger cars or eligible new energy passenger vehicles and purchase new energy vehicles that meet energy-saving requirements or new energy vehicles will be given a fixed subsidy.
2. Seven departments issued documents to promote the renewal of equipment in the industrial field
On April 9, the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Finance and other seven departments jointly issued the "Implementation Plan for Promoting the Renewal of Equipment in the Industrial Field", and by 2027, the scale of equipment investment in the industrial field will increase by more than 25% compared with 2023.
3. Three departments: From 2024 to 2026, we will carry out the pilot project of "100 counties, 1000 stations, 10,000 piles", and strengthen the planning and construction of new energy vehicle charging and swapping facilities in key villages and towns
On April 12, the Ministry of Finance, the Ministry of Industry and Information Technology, and the Ministry of Transport issued a notice on carrying out the pilot work of charging and swapping facilities at the county level to strengthen the planning and construction of new energy vehicle charging and swapping facilities in key villages and towns.
4. Ministry of Industry and Information Technology: Focus on key industries such as automobiles, and increase the application of intelligent testing equipment
On April 8, the General Office of the Ministry of Industry and Information Technology issued the "Notice on Doing a Good Job in the Quality of Industry and Information Technology in 2024". The notice clearly implements the implementation opinions on improving the reliability of the manufacturing industry, focuses on key industries such as machinery, electronics, and automobiles, and formulates and revises a number of product quality standards in the fields of raw materials, machinery, electronics, automobiles, and software.
5. The Ministry of Commerce and 14 other departments issued the "Action Plan for Promoting the Trade-in of Consumer Goods"
On April 12, the Ministry of Commerce and 14 other departments issued the "Action Plan for Promoting the Trade-in of Consumer Goods". Consumers who scrap high-emission passenger cars or eligible new energy passenger vehicles and purchase new energy vehicles that meet energy-saving requirements or new energy vehicles will be given a fixed subsidy; financial institutions can independently determine the down payment ratio of loans for self-use cars; improve infrastructure such as charging (swapping) electricity, parking, and smart transportation; implement a reverse invoicing policy for second-hand car transactions; and promote the door-to-door car collection service model.
6. The German Chancellor visited China, accompanied by Mercedes-Benz and BMW executives
On the morning of April 14, German Chancellor Olaf Scholz arrived in Chongqing for a visit to China. An economic delegation composed of relevant officials from heavyweight enterprises such as Siemens, BMW, and Mercedes-Benz also accompanied the visit to China.
7. Beijing Bureau of Commerce and other 5 departments issued the "Beijing Municipal Work Plan for Promoting the Export of Used Cars"
According to the website of the Beijing Municipal Bureau of Commerce on April 7, the Beijing Municipal Bureau of Commerce and other five departments issued the "Beijing Municipal Work Plan for Promoting the Export of Second-hand Cars" to accelerate the formation of a prosperous trend of diversification of second-hand car exports, market diversification and commodity standardization. Encourage export enterprises to provide maintenance records of export vehicles in the "National Automobile Maintenance Electronic Health Record System".
8. Fujian Province has introduced incentives and subsidies to promote automobile consumption
According to the website of the Fujian Provincial Department of Finance on April 7, the provincial finance arranged 30 million yuan in the first quarter to provide subsidies for various localities to carry out automobile consumption promotion activities. Fuzhou City, together with key car companies, has carried out a subsidy replacement policy of 10 billion yuan and increased subsidies for car purchases.
9. Guangdong: Appropriately reduce the down payment ratio of passenger car loans, and encourage banking institutions to introduce loan policies to support the renewal of old trucks
On April 13, the Guangdong Provincial People's Government issued the "Implementation Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Trade-in in Guangdong Province". Under the premise of compliance with laws and regulations and controllable risks, banking institutions are encouraged to appropriately reduce the down payment ratio of passenger car loans, and reasonably determine the term and credit limit of automobile loans. Encourage banking institutions to introduce loan policies to support the renewal of old trucks.
10. Beijing-Tianjin-Hebei's first intelligent networked vehicle test high-speed opening
A few days ago, the Hebei Provincial Department of Transportation, the Hebei Provincial Department of Industry and Information Technology, and the Hebei Provincial Public Security Department jointly issued an announcement that the G2 Beijing-Shanghai Expressway Hebei Langfang Section (Hebei Section of the Beijing-Tianjin-Tangzhou Expressway) was officially used to carry out intelligent networked vehicle road testing and demonstration applications, and the first intelligent networked vehicle test highway across Beijing, Tianjin and Hebei was opened to the public.
11. Shanghai issued the implementation rules for the trade-in subsidy for old cars
On April 9, Shanghai issued a notice on the "2024 Implementation Rules for the "Trade-in" Subsidy for Old Cars in Shanghai". From January 1, 2024 to December 31, 2024, individual users who purchase new fuel passenger cars with China VIB emission standards, whose registered use nature is non-operational, and within the specified period, scrap or transfer (excluding change of registration) of non-commercial fuel passenger cars with emission standards of China V and below registered in Shanghai under their own name, and give individual users a one-time car purchase subsidy of 2,800 yuan.
12. Shandong and Guangdong: vigorously carry out trade-in activities for automobiles and home appliances
On April 7, Shandong Province and Guangdong Province respectively held video conferences to promote large-scale equipment renewal and trade-in of consumer goods. Wang Weizhong, governor of Guangdong Province, stressed that vigorously carry out the trade-in activities of automobiles and household appliances and "renewal" of home decoration and kitchen and bathroom.
13. Shandong Province issued an implementation plan to promote large-scale equipment renewal and trade-in of consumer goods
On April 8, the Shandong Provincial People's Government issued the "Implementation Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods in Shandong Province". The plan proposes that by 2025, the number of new energy vehicles will reach more than 3 million, the non-operating diesel trucks of China III and below will be basically eliminated, the number of scrapped vehicles will be recycled and dismantled to reach 600,000, and the ratio of second-hand car transactions to new car sales will reach 0.8:1.
Fourth, new product information tracking
1. Xiaomi SU7 will be reconfigured for a 24-hour time on April 19
On April 14, Lei Jun, founder, chairman and CEO of Xiaomi, said on the interactive platform that from 9 a.m. on April 19, a 24-hour time-limited configuration change will be opened. Non-founding users who have locked a single can change the configuration in the Xiaomi Car app.
2. The price of Xiaomi SU7 car insurance is between 6,000 yuan and 8,000 yuan in the first year
On April 8, according to media sources, the price of Xiaomi auto insurance in the first year was between 6,000 yuan and 8,000 yuan.
3. Dongfeng eπ008 official picture released
On April 8, Dongfeng Yipai released the official picture of eπ008. It will be positioned as a six-seater mid-to-large SUV and will be available in two power versions: extended range and pure electric power. It will be officially unveiled at the 2024 Beijing Motor Show.
4. יהוה GT9
On April 7, DENZA Auto officially announced that its luxury flagship sedan was officially named "DENZA Z9 GT".
5. Enterprise information
1. Baojun Tianyu architecture was officially released, and four new cars will be launched within the year
The Baojun brand officially released the world's first electronic and intelligent architecture defined by the needs of the people, Tianyu architecture, including the full-scene D platform, the economic M platform, and the personalized and convenient S platform.
2. Volkswagen: More than 40 new models will be launched in China in the next three years, half of which will be new energy vehicles
On April 13, at the 4th Consumer Expo, exhibitor Volkswagen Group (China) Group Vice President of Sales Zhang Lan said that in the next three years, the group plans to launch more than 40 new models to the Chinese market, half of which are new energy vehicles. By 2030, the Group will offer no less than 30 all-electric models.
3. GAC Feng Xingya: The all-solid-state battery will be launched in 2026, with a range of more than 1,000km
On April 12, Feng Xingya, general manager of GAC Group, said at the 2024 GAC Science and Technology Day that GAC's all-solid-state battery plans to be launched in 2026, and will be installed in Haobo models first. The all-solid-state battery has an energy density of more than 400 Wh/kg and can easily achieve a range of more than 1,000 kilometers. GAC also released the first picture-free pure vision autonomous driving system in China, the Garcia intelligent driving system.
4. GAC Group: Plans to sell more than 150,000 units overseas in 2024
On April 11, GAC Group held its 2023 annual results briefing. In 2024, the company plans to sell more than 150,000 units overseas. GAC Trumpchi is promoting localized production in Malaysia and other places, and GAC Aion has completed a total of more than 20 billion yuan in financing.
5. JiHu JiHu released the new technology system of Darwin 2.0
On April 11, ARCFOX Motors released a new Darwin 2.0 technology system. Launched the new "Aurora Battery" brand and the new technology brand "Jifeng Power". The ARCFOX Alpha S5 equipped with this power system has a 0-100 acceleration time of 3.7 seconds.
6. ZEEKR will report to the police to refute rumors and reduce prices
Recently, there is news that ZEEKR is reducing prices in the form of group purchases. In this regard, ZEEKR responded on April 9 that it was false information, and pointed out that such intermediaries were using the promotion of bank loan products, and after taking high-interest rebates from banks, they packaged part of the rebates as user discounts, rather than official behaviors. ZEEKR said that it would take alarm treatment.
7. Polar Stone Automobile Co., Ltd. increased its capital to 1.71 billion yuan
Recently, Shanghai Luoke Intelligent Technology Co., Ltd., an affiliated company of Polar Stone Automobile, has undergone industrial and commercial changes, and its registered capital has increased from 1.55 billion yuan to 1.71 billion yuan.
8. The marketing end of Jiyue Automobile has been reshuffled, and Yang Zhen, the person in charge of user development, has resigned
On April 12, it was reported that Jiyue Automobile is carrying out drastic reforms on its marketing and sales ends, and Yang Zhen, head of the UD-user development department on the marketing side, and a number of directors and other executive levels have been "out of class", and the current CEO Xia Yiping is personally in charge of the department head. The person in charge of the UO-user operation department on the sales side has also been changed from the original operation head Luo Gang to Andy.Gao from Tesla. Since the end of March, there has been a dense turnover of personnel between the two major departments of UD and UO.
9. Jiyue reached a strategic cooperation with Lynk & Co to upgrade the after-sales service system
On April 9, Jiyue officially announced that it had reached a strategic cooperation with Lingji Lianfu, an external service brand of Lynk & Co. The two parties will cooperate in many aspects such as basic maintenance, accident mechanical and electrical maintenance, sheet metal spray repair, and insurance claim services after the after-sales service of smart cars.
10. Lei Jun: Nearly 30% of Xiaomi SU7 buyers are women
On April 12, it was reported that Lei Jun, chairman and CEO of Xiaomi, said that nearly 30% of Xiaomi SU7 buyers are women. And in the order, there are many people who buy it for his wife, girlfriend or his sister and sister, so this car is expected to be 40% or even 50% female owner.
11. 路特斯EMEYA繁花/ELETRE将迎来OTA升级
On April 9, it was reported that the two models of Lotus EMEYA Fanhua/ELETRE will usher in OTA upgrades. The OTA includes a number of intelligent driving functions, external discharge functions, and track coach functions.
12. Singularity Automobile Anhui Company was bankrupt and liquidated
On April 9, Anhui Singularity Intelligent New Energy Automobile Co., Ltd. added a bankruptcy case, and the applicant was Zhong Wenming and 10 others.
13. Chery Automobile established a power battery company with a registered capital of 200 million
Recently, Anhui Qida Power Battery Technology Co., Ltd. was established, the legal representative is Qu Guofeng, with a registered capital of 200 million yuan, and its business scope includes battery manufacturing, sales, auto parts and accessories manufacturing, import and export of goods, etc. It is wholly owned by Wuhu Qida Power Battery System Co., Ltd., a subsidiary of Chery Automobile Co., Ltd.
14. Kia launched a limited-time car purchase policy with a maximum drop of 48,000 yuan
Yueda Kia launched a limited-time car purchase policy in April, from now until April 30, you can enjoy multiple surprise benefits when you buy Kia Liontop, Setus, Jiahua, new K3, Zhipao, K5, EV6 and other models, up to 48,000 yuan.
15. Roewe i5 is only 49,900 yuan, and many Roewe cars enjoy 20,000 discounts
SAIC Roewe launched a limited-time official price reduction promotion, Roewe D7 DMH, Roewe D7 EV and Roewe i5 limited time up to 20,000 yuan cash discount, Roewe RX5, Roewe superhybrid eRX5, Roewe RX5 PLUS, Roewe iMAX8, Roewe RX9 official guide price drop of 20,000 yuan.
16. SAIC Motor received 26.5 billion rubles from MG India for the transfer of shares, retaining more than 49% of the voting rights
On April 7, SAIC Motor announced that it had received Rs 2,650 crore from JSW for the transfer of shares. SAIC Motor will retain a 49% stake in MG India and a higher percentage of voting rights, and SAIC Motor expects to increase net profit by CNY5 billion to CNY7 billion.
17. Deep Blue Auto enjoys a cash discount of 10,000 yuan for all series
On April 10, it was reported that Deep Blue Automobile launched a limited-time car purchase activity of "large replacement, purchase of Deep Blue to enjoy a comprehensive subsidy of up to 30,000 yuan" from April 7th to April 30th. Including "cash gifts, replacement gifts, financial gifts, insurance gifts" four major courtesy.
18. Major personnel adjustment of DPCA!
On April 9, DPCA held a cadre meeting, and Chen Bin no longer held the post of secretary of the party committee; Zhou Wei no longer held the posts of deputy secretary of the party committee, member of the party committee, and chairman of the trade union; Song Hanming was appointed secretary of the party committee, secretary of the discipline inspection commission, and candidate for chairman of the trade union; and Chen Ke and Li Yang were recommended to serve as deputy general managers.
19. It was rumored on the Internet that AVATR had decided to take over Gaohe, and the company responded: There is no news of taking over yet
On April 8, there was information on the Internet that "AVATR has reached an agreement on the acquisition of Gaohe, and it is expected that Gaohe will resume work this month". In response, AVATR responded: "Through internal understanding, we do not have this information at present. ”
20. NIO equity exposure: Li Bin holds 8.5% of the shares and has 38.5% of the voting rights
NIO Group recently submitted its 2023 annual report. As of March 31, 2024, Li Bin, founder and CEO of NIO, held 8.5% of the shares and 38.5% of the voting rights. Middle East Capital CYVN Investments RSC holds 20.1% of the shares and has 13.4% of the voting rights, while Tencent holds 5.7% of the shares and has 3.9% of the voting rights.
6. Industry information
1. In March, the domestic power battery installed 35GWh, an increase of 26% year-on-year
On April 11, the China Automotive Power Battery Industry Innovation Alliance released data that in March 2024, 35.0GWh of power batteries will be installed in China, an increase of 25.8% year-on-year and 94.6% month-on-month. CATL ranked first with 15.54GWh of installed capacity.
2. In March, the number of public charging piles nationwide increased by 83,000
On April 10, the China Charging Alliance released data showing that there were 83,000 more public charging piles in March 2024 than in February 2024, a year-on-year increase of 48.6% in March. As of March 2024, members of the alliance have reported a total of 2.909 million public charging piles, including 1.278 million DC charging piles and 1.631 million AC charging piles.
3. SNE: LG Energy Solution has surpassed BYD to become the world's second largest EV battery manufacturer
On April 8, the latest report from SNE Research said that LG New Energy sold a total of 12.7 GWh of electric vehicle batteries from January to February this year, accounting for 13.7% of the global market share. China's CATL remains in first place with a market share of 38.4 percent, while BYD has slipped to third place with a market share of 13.1 percent. In the first two months, global EV battery sales reached 92.4 GWh, up 27% year-on-year.
4. Passenger Car Association: Retail sales of narrow passenger cars in March were 1.687 million units, a year-on-year increase of 6.0%
According to data released by the China Passenger Car Association on April 9, in March, the retail sales of narrow passenger cars were 1.687 million units, a year-on-year increase of 6.0% and a month-on-month increase of 52.8%, and the cumulative retail sales from January to March were 4.829 million units, a year-on-year increase of 13.1%. In March, passenger car manufacturers nationwide wholesaled 2.189 million units, up 10.1% year-on-year and 68.0% month-on-month. In March, the wholesale of independent automakers was 1.296 million units, a year-on-year increase of 23% and a month-on-month increase of 66%. Wholesales of major joint ventures totaled 580,000 units, down 9% y/y and up 78% m/m. The wholesale of luxury cars was 310,000 units, up 6% year-on-year and 60% month-on-month.
5. Didi Autonomous Driving has joined hands with GAC Aion, and the first commercial L4 model will be mass-produced next year
On April 7, Didi Autonomous Driving and GAC Aion announced that their joint venture, Guangzhou Andi Technology Co., Ltd., had been approved for an industrial and commercial license. Headquartered in Huangpu, Guangzhou, GAC Aion and Didi Autonomous Driving each hold 50% of the shares.
6. Toyota may cooperate with Huawei to jointly develop intelligent driving solutions
On April 8, some media reported that Toyota's global model intelligent driving solution may adopt the "Toyota + Huawei + Momenta" tripartite joint solution model. Autonomous driving companies Momenta and Huawei provide software and hardware solutions, respectively.
7. SVOLT released an upgraded version of the short knife energy storage cell
On April 11, SVOLT officially released L500-350Ah and L500-730Ah large-capacity energy storage short-knife cells. All of them adopt the "flying stack" process of honeycomb energy, inheriting the safety, manufacturing and cost advantages of flying stack + short knife.
8. Hesai Technology entered into a cooperation agreement with GAC Group
On April 7, Hesai Technology announced that it has officially entered into a cooperation agreement with Guangzhou Automobile Group. Based on Hesai's next-generation LiDAR products, the two parties will jointly create intelligent driving products.
9. Huawei launched the basic version of the ADS advanced intelligent driving system
On April 11, Yu Chengdong, Chairman of Huawei Automotive BU, announced the launch of a basic version of the ADS high-end intelligent driving system composed of millimeter-wave radar + camera, which supports functions such as national high-speed NCA and APA automatic parking.
10. Mexico made a preliminary anti-dumping ruling on Huaxin radial tires: no temporary anti-dumping duties will be levied, and the anti-dumping investigation will continue
On April 8, it was reported that the Mexican Ministry of Economy recently issued an announcement to make an anti-dumping preliminary ruling on new radial tires with an inner diameter of 13~22 inches originating in China for passenger cars and light-duty trucks, and ruled that no temporary anti-dumping duties would be levied on the products involved in the case in China, and the anti-dumping investigation would continue. The announcement will take effect from the day after its publication.
11. CATL released new energy storage products
On April 9, the 2024 CATL Energy Storage New Product Launch Conference was held. CATL released a new energy storage product, Tianheng Standard 20-foot containerized energy storage system, which has the characteristics of 4-dimensional true safety, 5-year zero attenuation, and 6MWh-level.
7. Multinational groups and international markets
1. Stellantis' sales in 29 European countries increased by 5.4% year-on-year in the first quarter of this year
On April 9, Stellantis announced that in the 29 European markets, sales in the first quarter of 2024 increased by 5.4% year-on-year, and the market share reached 19.2%, an increase of 0.9 percentage points compared with fiscal year 2023.
2. BMW's global sales in the first quarter increased by 1.1% year-on-year
On April 10, data released by the BMW Group showed that BMW delivered 594671 vehicles worldwide in the first quarter of this year, a year-on-year increase of 1.1%. Among them, the sales of pure electric vehicles were 82,700, a year-on-year increase of 27.9%.
3. Toyota announced that it would reform Daihatsu's business structure
On April 8, Toyota Motor and its subsidiary Daihatsu jointly announced that Toyota will reform Daihatsu's business structure, and Daihatsu will be positioned as a "mobile company centered on micro cars". In order to put an end to the certification test safety scandal, Toyota will be responsible for the entire process from development to certification of small cars, and then entrust Daihatsu with the actual development work.
4. The tariff hike comes after Brazil's imports of Chinese new energy vehicles surged
According to data released by the Brazilian Ministry of Development, Industry, Trade and Services a few days ago, in the first quarter of this year, Brazil's passenger car imports increased by 46.4% year-on-year to US$1.5 billion, and the import volume surged by 450% compared with the same period in 2023, of which Chinese cars accounted for about 40%. In July, import duty on BEVs in Brazil will increase to 18%. The import tax on hybrid vehicles will rise to 25%.
5. Musk will meet with Indian Prime Minister Narendra Modi, at which time he may announce investment and construction of the factory
Tesla Musk confirmed on social platforms that he will visit India and plans to meet with Indian Prime Minister Narendra Modi.
6. U.S. new car sales fell 1.9% month-on-month in March, and the discount was raised to $2,800
According to the Automobile Dealers Association of America, the seasonally adjusted annualized sales of light vehicles in the United States in March were 15.5 million units, down 1.9% month-on-month and up 3.8% year-on-year. Annualized seasonally adjusted sales in the first quarter were 15.4 million units, up 7% from the same period last year. J.D. Power data shows that the purchase discount per vehicle in March was about $2,800, a year-on-year increase of 66.6%.
7. U.S. court upholds EPA's approval of California's electric vehicle rule
On April 10, it was reported that a U.S. appellate court upheld the decision of the country's Environmental Protection Agency (EPA), that is, to give California an exemption to allow it to set its own exhaust emission limits and electric vehicle sales requirements.
8. The Council of the European Union approved the "Euro 7" emission standard
On April 12, local time, the Council of the European Union approved the "Euro 7" motor vehicle emission standard. The new standard will not only cover vehicle exhaust emissions such as nitrogen oxides, but will also introduce emission limits for ultrafine particulate matter from brake and tyre wear for the first time. This means that electric vehicles and hydrogen-powered vehicles will also be included in the Euro 7 emission standard.
9. The European Union approved Slovakia to subsidize companies to build electric vehicle factories
On April 9, it was reported that the European Commission approved a state aid plan for Slovakia with a total of 267 million euros to support Volvo Car Company to build a new electric passenger car plant near Košice in eastern Slovakia.
10. Kia will launch 15 all-electric models by 2027
At its 2024 Investor Day meeting, Kia unveiled its next product roadmap, which will see up to 15 BEV models launched by 2027. In 2024, the new and new models include the Kia EV3 and Kia K4. The Kia EV6, Kia K8 and Sportage models will receive product upgrades. A hatchback version of the all-new K3 will be introduced, and the EV6 will be derived from the GT version.
11. Tang Weishi opposes the construction of a factory in Italy by a Chinese car company
On April 11, Stellantis CEO Tang Weishi said at an event in Turin: "If someone wants to introduce competition from China in Italy, we may have to make some unpopular decisions." ”
12. Tesla's Cybertruck order is expected to be delivered in 2025
According to Tesla's official website in the United States, the estimated delivery time for the all-wheel drive version of the Cybertruck and the high-end Cyberbeast is 2025, and it is planned to deliver 250,000 units per year.
13. Hyundai and Kia have entered into supply alliances with Indian battery manufacturers
On April 9, South Korean automakers Hyundai Motor and Kia Motors announced that they had signed a memorandum of understanding with Indian battery manufacturer Exide Energy Solutions to purchase electric vehicle batteries from the Indian company, thereby improving the competitiveness of the two companies in the Indian market.
Attached: A collection of recent information
*From January to March 2024, automobile production increased by 7%, consumption increased by 4%, and the penetration rate of new energy vehicles was 2.08 million, 31%, and 34 square meters of houses/cars*Analysis of automobile market segment trends and manufacturers' competitive performance in March*Price war status tracking in 2024-Q1*Scrapping and renewal and trade-in to promote high-quality development of automobile consumption*Market structure analysis of passenger car price segments-March*Auto market scanning-Issue 13, 2024 (04/01-04/06) *Analysis of the operating characteristics of the national passenger car market in March*【Monthly analysis】Analysis of the national passenger car market in March 2024*Comparative analysis of the performance of Chinese and American auto dealers in 2023*Comparative tracking of annual report indicators of overseas listed companies of new energy
*In 2023, the double credit of fuel and new energy will skyrocket
*Discussion on the Classification and Calculation of New Passenger Cars - March * 2024 China Automobile Exports Overseas Part of Data Tracking - February * Auto Market Scanning - December 2024 (March 25 - March 31)
*[New Energy] March 2024 New Energy Passenger Vehicle Manufacturers Wholesale Sales Update
*China's share of the world's new energy vehicles in January-February 2024 is 62%
*Analysis of the National Charging Pile Market - January-February 2024 *China accounted for 32% of the world's automobile share in January-February 2024*The revenue of the automotive industry in January-February 2024 was 1.4 trillion yuan, an increase of 8%, the profit was 58.7 billion yuan, an increase of 50%, and the profit margin was 4.3%*[Passenger Association Forum] Pickup Market Analysis in February 2024*Auto Market Scanning-Issue 11, 2024 (03/18-03/24)
*Lithium battery market analysis for new energy vehicles - February 2024
*China's auto imports from January to February 2024 will drop by 3% for 100,000 vehicles
*Regional market analysis of new energy passenger vehicles in February 2024
*Analysis of China's auto export market from January to February 2024
*Characteristics of the operation of the domestic market of commercial vehicles in China - February 2024
*Inventory in the national passenger car market was 3.21 million units at the end of February, with inventory for 57 days
*1.69 million used cars in January 2024, up 35%
*Model trends in the passenger car segment in February
*National new energy passenger vehicle wholesale in February 2024 450,000 penetration rate of 36%*2024 government work report automotive analysis*Trade-in to reduce logistics costs - promote the strong growth of gas heavy trucks*National residential property market and auto market trend comparison analysis*National rental online new car market analysis-2023
*The price war in the national passenger car market will continue to be fierce in 2024
*We should never be pessimistic about new energy vehicles*The brand of the Passenger Association will continue to be brilliant in the past 30 years*In 2023, China's automobiles have achieved remarkable results, and the potential is even greater
*Chinese automobiles lead the high-quality growth of China's exports
*Ministry of Public Security Licensing and Driver Data Analysis - January-December 2023
*Analysis of the first batch of new energy vehicles in 2024
*Tracking of the recall status of the national automobile market from January to December 2023*The integration and interaction of trams and power grids is good for the growth of the automobile market*The adjustment of the threshold index of vehicle purchase tax for new energy vehicles is not small*Analysis of automobile license, scrapped exports