In April, the penetration rate of new energy has reached 50%, and there are hidden worries behind the heat
The new energy vehicle industry is one of the few tracks that can maintain a state of madness in recent years. At present, the new energy vehicle market in mainland China is like a hanging, showing unprecedented popularity, which can be clearly felt from its rising market penetration. According to the latest data on China's auto market given by the China Passenger Car Association, the penetration rate of new energy vehicles in the Chinese market may have exceeded 50%.
You read that right, the reference value of "permeability" has exceeded 50%. In other words, out of 10 people buy a car, 5 people choose new energy vehicles. Such sales also show that new energy has begun to be recognized by more and more consumers. Even if you're a big fan of gasoline cars, you can't deny it.
The penetration rate is more than 50%, all because of "the same price of oil and electricity"?
Recently, the Passenger Car Association released the auto market data from April 1 to 14, with 516,000 retail sales in the passenger car market and 260,000 retail sales in the new energy vehicle market. Based on this calculation, the penetration rate of new energy vehicles in China has exceeded 50% during this period. The wholesale data is also similar, with a total of 534,000 units in the first two weeks, of which 268,000 are new energy vehicles, which means that the penetration rate of new energy at the wholesale end has also exceeded 50%.
Both in absolute volume and penetration, new energy reached a record high in April. And this is only the statistics of the first two weeks of April, according to the growth trend of new energy vehicles, the next will continue to rise. This also shows that more and more people are buying new energy vehicles, and even more people than those who buy fuel vehicles. Consumers also used real money to cast their own votes.
When it comes to new energy, everyone will definitely think of pure electric vehicles first, but in fact, throughout 2024, plug-in hybrid vehicles will be the most gratifying in terms of penetration growth. In this year's new energy market, there are two trends that are very obvious. The first is the steady growth of pure electric vehicles and the rapid growth of plug-in hybrids. In the first quarter, for example, the retail sales of pure electric vehicles increased by about 14.7% year-on-year, but the growth rate of plug-in hybrid models was as high as 75.6%.
The explosive growth of plug-in hybrids is inseparable from the supply and demand relationship between car companies and consumers. The first is that consumers' demand and love for plug-in hybrids are constantly escalating, after all, plug-in hybrids have many advantages: they have a cost and driving experience comparable to that of pure electric vehicles, and there is no range anxiety of pure electric vehicles.
In addition, plug-in hybrid models have achieved "the same price of gasoline and electricity", which will smooth out the original price disadvantage of fuel vehicles and open up the price advantage of pure electric models. A 150,000-level plug-in hybrid model, the pure electric range is basically about 100km, the comprehensive range easily exceeds 1000km, and it is equipped with fast charging, and the energy replenishment time is also within the range acceptable to consumers. Therefore, it not only attracts many new car owners, but also makes many oil truck owners have the willingness to replace plug-in hybrid vehicles.
Plug-in market, hundreds of schools of thought contend
Obviously, plug-in hybrid vehicles have become the "upstart" of the current domestic car market.
Consumer demand has risen sharply, and car companies are also scrambling to launch plug-in hybrid models to seize market share. In recent years, BYD's DM-i super hybrid, Changan's Zhidian iDD, Geely's Thor electric hybrid 8848, and Great Wall's intelligent four-wheel drive electric hybrid technology - the all-new Hi4...... It can be described as a hundred flowers blooming.
In terms of this year's listed products, those that originally focused on pure electric began to launch plug-in hybrid products. In addition, at the 2024 Beijing Auto Show, which will open next week, plug-in hybrid models will become a major attraction: Deep Blue G318 with Deep Blue Super Range Extension 2.0 technology, Seal 06 with BYD's fifth-generation DM-i plug-in hybrid technology, and Tank 300 Hi4-T with Great Wall's latest Hi4-T plug-in hybrid system.
The above are just some of the plug-in hybrid models, such as the new Wenjie M5, Lynk & Co 07 EM-P and Hongqi HQ9 PHEV and other popular plug-in hybrid models, which are also unveiled at the 2024 Beijing Auto Show. This wave of new cars covers a wide range of areas, not only sedans and urban SUVs, but also hard-core off-road and high-end MPVs. Judging from the information exposed, every new car is holding back its big moves.
In addition to the development of independent brands, joint venture brands have also noticed the plug-in hybrid market, and they are not willing to lag behind and begin to come up with products. For example, the latest launch of the new generation of Accord, the previous generation of the oil hybrid model has been replaced by a plug-in hybrid, and the implementation of SAIC-GM's new generation of PHEV technology has made the Buick GL8 plug-in hybrid version and Chevrolet Explorer Plus become popular models in the market. In short, the innovation of plug-in hybrid technology and the abundance of market models have jointly boosted the explosive growth of plug-in hybrid vehicles in China.
Hidden worries under the boom of new energy vehicles
With the rapid expansion of the new energy vehicle market, the fuel vehicle market has indeed gradually entered a downturn. However, fuel vehicles are also launching a new round of price war to save themselves, fuel vehicles continue to reduce prices will form a sniper situation for new energy vehicles, from the cost point of view, the manufacturing cost of fuel vehicles is lower, and the price war of new energy vehicles has no advantage. Recently, the joint venture fuel vehicle has come up with a price reduction strategy, and the price of many models has been reduced by at least 30%, attracting the attention of many consumers. This fully proves that the automotive market is becoming increasingly competitive, and consumers are becoming more diversified in their car purchase choices.
Objectively speaking, whether it is a fuel vehicle, a pure electric vehicle, or a plug-in hybrid vehicle, there is no one whose technology is higher than whom, and their emergence conforms to different use scenarios. Although it is an indisputable fact that new energy vehicles encroach on the position of fuel vehicles, we do not need to worry that new energy vehicles will fully replace fuel vehicles in a short period of time, because the climate has not yet been formed to fully replace traditional fuel vehicles. Considering the complexity of the influencing factors, the new energy vehicle market will eventually slow down after the rapid growth, and it will begin to "keep pace" with fuel vehicles in a reasonable proportion.
We are not pouring cold water on this raging flame, but in the face of the carnival market, we need to think rationally and calmly. In fact, there have been a number of early new energy users who have found that there are many problems with vehicles, high after-sales maintenance costs, and low value retention rate of second-hand cars. Even during use, some niche brand users find it difficult to continue insurance. So, without rushing to conclusions, let's wait and see.
With the strengthening of the same price of oil and electricity in recent years, consumers have "voted with their feet" to drive the rapid expansion of the plug-in hybrid market. Car companies will continue to increase the research and development of hybrid technology, and the corresponding models have been landed one after another, and the plug-in hybrid track is becoming more and more lively. As for fuel vehicles to keep the market, it is not realistic to continue to fight a price war, and it is necessary to change the existing product gameplay and carry more practical and technological configurations, so as not to be completely surpassed by new energy vehicles.