Prior to this, it was predicted that the penetration rate of new energy vehicles to further accelerate the development of this year is expected to exceed 50%. It is a well-known fact that the development of new energy is accelerating, but the penetration rate of more than 50% has aroused heated discussions. This statement is still in my ears, and the data recently released by the Automobile Market Research Branch of the China Automobile Dealers Association (Passenger Association) has given verification.
According to the data, in the first half of April, the retail penetration rate of new energy vehicles was 50.39%, and the wholesale penetration rate was 50.19%. Although the statistical caliber is different, the penetration rate of new energy vehicles is more than half, and it has changed from a prediction to an undoubted reality, and the argument that "people who buy fuel vehicles have officially become a minority" has been supported by credible statistics.
Behind the penetration rate of new energy is more than 50%, which is a portrayal of the trend of traditional fuel vehicles. In recent years, the new energy sector of the automobile market has become increasingly strong. Just last year, BYD, which has been deeply involved in the field of new energy vehicles for many years and has accumulated strong technical strength, won the sales champion of car companies in China's auto market, the brand sales champion of China's auto market and the sales champion of the global new energy vehicle market with sales of more than 3 million units. China's new energy vehicles have completed the overtaking of joint venture car companies and occupied a huge market share, and the fuel vehicle market has been shrinking, and sales have fallen sharply, becoming an irreversible trend.
Among them, joint venture fuel vehicles have been greatly impacted. In March this year, the terminal sales of joint venture fuel vehicles can be described as a rout. The head brand of the joint venture car Honda Accord that year fell by as much as 72.6%, the Toyota Camry also fell by 59.2%, and the Corolla fell by 54.4% and the Volkswagen Lavida fell by 36.4%, all indicating that the joint venture fuel vehicles have been under the impact of China's new energy vehicles, the sales of the whole line have declined, and they have entered the sales trough.
At the same time as the joint venture fuel vehicles fell in half, the joint venture fuel vehicles were also involved in the batch shutdown tide. On the one hand, Renault, Suzuki, DS, Acura, Fike, Mitsubishi, etc., have withdrawn from the Chinese market one after another; on the other hand, a large number of joint venture brand 4S stores have been forced to close down, because many consumers have paid money and cannot get a car, and after-sales service has lost its guarantee, resulting in a large number of disputes and rights protection. For a while, there was chaos, and in the end it was the owners of fuel vehicles who suffered.
At the same time, the value retention rate of fuel vehicles, which was once a source of pride, is also declining. Judging from the "2023 China Automobile Retention Rate Report" jointly released by the China Automobile Dealers Association and Beijing Jingzhen Valuation Information Technology Co., Ltd., the retention rate of fuel vehicles in 2023 will show a relatively obvious downward trend. In this regard, relevant people said that the main reason for the decline in the value retention rate of fuel vehicles in 2023 is that new energy vehicles have gradually become the mainstream.
Compared with the decline in the value retention rate of fuel vehicles, the performance of new energy vehicles is obviously surprising. According to the "2023 China Automobile Retention Rate Billboard" released by J.D. Power and 58 Automobile, the value retention rate of new energy vehicles has shown a trend of surpassing that of fuel vehicles. The value retention rates of BYD Han and Qin PLUS are as high as 75.7% and 77.5% respectively, ranking first in their respective market segments.
In fact, until now, there is no need to sigh for the downward trend of fuel vehicles, all of the above appearances are the inevitable result of the rise of new energy vehicles. The penetration rate of new energy is more than half, and the most fundamental factor is that new energy vehicles rely on the technology generation difference to form a "technical suppression" of fuel vehicles, and have surpassed traditional fuel vehicles in terms of power, quietness, intelligence, etc., with a better car experience, and have been recognized by the consumer market.
Take BYD's new energy vehicles, which account for 1/3 of the share of new energy, as an example, it has strong technical advantages in the fields of pure electric and plug-in hybrid. In particular, BYD took the lead in evolving from "the same price of oil and electricity" to "electricity is lower than oil", breaking through the price barrier, making it difficult for fuel vehicles to fight back. Most consumers have listed it as their first choice for new energy vehicles with ultra-low cost and better travel experience, and those who buy fuel vehicles have become a minority.
It is precisely because of the joint efforts of car companies represented by BYD in the field of new energy that the penetration rate of new energy vehicles in China has increased rapidly. Of course, this process is also quite difficult. Back then, from 2005 to 2015, it took 10 years for China's new energy vehicles to break through 1%, and from 2016 to 2019 for more than three years, the penetration rate only increased to 5%. By 2020, China set a target of more than 50% penetration of new energy vehicles by 2035, at that time many people still felt that this goal was too far away, however, China's new energy quickly completed the transformation from policy-driven to market-driven, and new energy vehicle companies are technology-driven development, through technological innovation, with science and technology universality, to promote the popularization and value upgrading of new energy vehicles, and finally with a five-year growth rate of 10 times, 11 years ahead of schedule to complete 50% of the national planning target, congratulations!
To a large extent, the penetration rate of new energy has exceeded 50%, which means that new energy vehicles have truly become a new choice for consumers to travel, and also reflects consumers' recognition and acceptance of the concept of green travel. This achievement has not only become a significant symbol of China's green transportation transformation, but also injected new impetus into economic growth and industrial upgrading. Therefore, we must pay tribute to BYD who has made significant contributions to the development of the new energy vehicle industry!