Buying fuel cars has really become a minority, and Zhou Hongyi made a "difficult decision"! Another car company started a "price war"

Source: Company E

On April 20, the topic of "buying fuel cars to become a minority" appeared on Baidu's hot search.

Recently, the China Automobile Dealers Association released data that in the first half of April, the retail penetration rate of new energy passenger vehicles in mainland China exceeded 50% for the first time.

According to the data, from April 1 to 14, the mainland new energy passenger car market retailed 260,000 units, a year-on-year increase of 32%, and in the first half of April, the retail penetration rate of new energy passenger vehicles was 50.39%, surpassing traditional fuel passenger cars for the first time.

On April 20, the topic of "buying fuel cars to become a minority" appeared on Baidu's hot search.

Coincidentally, recently, Zhou Hongyi, founder and chairman of 360 Group, said in a live video broadcast that he "made a difficult decision" and would sell the Maybach 600 that had been with him for 9 years.

Zhou Hongyi explains: "It's because I need to experience the feeling of a new generation of cars. The ancients said that they wanted to 'break the kettle', so I sold this car, gave up the traditional luxury car, and replaced it with a domestic new energy intelligent networked car. ”

At this year's China Electric Vehicle 100 Forum, BYD President Wang Chuanfu predicted that the penetration rate of new energy vehicles in China will soon exceed 50%, and the future may be more than that.

At the beginning of the new year in 2024, BYD, a leading new energy vehicle company, took the lead in setting off a "electricity is lower than oil" price cut, which also drove a series of new energy vehicle companies to follow up.

Under this wave of price cuts, the market space of fuel vehicles has been further squeezed. According to public data, in March this year, the sales of Guangqi Honda Accord fell by 72.6%, and GAC Toyota Camry fell by 59.2%.

Ping An Securities expects that the "price war" led by the leading new energy vehicle companies will continue in 2024, especially in the mainstream price range of 100,000 yuan to 200,000 yuan.

In addition, some car companies have started a "price war", Xpeng Motors announced on April 20 that from now until May 5, 2024, it will launch a time-limited car purchase subsidy of 500 million yuan, covering a total of four models of Xpeng G9, G6, P7i, and 2024 Xpeng P5.

GAC Aion also previously announced that the AION Y Plus price will be reduced by 10,000 yuan (excluding the AION Y Plus 310 Xingyao Edition), once again lowering the threshold for entry-level pure electric SUVs. At the same time, the compact sedan of the Aion brand, AION S MAX, has also dropped by 10,000 yuan. Cui Dongshu, secretary general of the National Passenger Car Market Information Association, said that in the past few years, the price war in the national passenger car market was usually about 4 points higher than the end of the previous year at the end of each year, but this year, the price war in the national passenger car market continued to be fierce. The price of new energy passenger vehicles has been sharply reduced, but the current promotion of fuel vehicles has reached a certain bottom line, so the situation of new energy alone price reduction has been formed to eat away at the fuel vehicle market.

According to the analysis of a number of industry insiders, the penetration rate of the new energy vehicle market will continue to grow. The China Electric Vehicle 100 Association predicts that in 2024, China's new energy vehicle sales are expected to exceed 13 million units, with a penetration rate of more than 40%, which also indicates that the competition between new energy vehicles and fuel vehicles will become more and more fierce.

Editor-in-charge: Ye Shuyun

Proofreading: Zhu Tianting

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