In April 2024, Chinese automakers will compete in the sales of new energy vehicles
In April 2024, China's mainstream car company Lu released the sales data of new energy vehicles for the month, which shows the fierce competition between traditional car companies and emerging car manufacturers in this field. Old car companies such as BYD and Geely have maintained their leading positions by virtue of their brand influence and product strength, while emerging car-making forces such as Hongmeng Zhixing have also achieved breakthroughs with popular models.
BYD is leading the way in overseas markets
According to the data, BYD's new energy vehicle sales in April reached 313,200, a year-on-year increase of 49%, continuing the strong growth trend in the past few years. The sales volume of pure electric models was 134,500 units, and the sales volume of plug-in hybrid models was 177,500 units, and the product line layout was reasonable to meet different consumer needs. BYD's sales in overseas markets in April were 41,000 units, up 176.6% year-on-year, reflecting the effectiveness of its internationalization strategy.
Industry insiders said that BYD can continue to lead, in addition to excellent product quality and high cost performance, its long-term investment in new energy core technologies such as batteries, motors, and electronic control is also indispensable. BYD is also continuing to increase its efforts to expand overseas markets, and has established sales and service networks in more than 70 countries and regions around the world, laying the foundation for its overseas market performance.
Geely's diversified development and high-end Chinese star series have achieved eye-catching performance
As a representative of China's traditional car companies, Geely Automobile's total sales in April were 153,300 units, a year-on-year increase of 39%, maintaining a rapid growth rate. Sales of new energy vehicles were 51,400 units, a year-on-year increase of 75%, accounting for one-third of total sales, reflecting Geely's determination in new energy transformation.
It is worth noting that Geely's high-end China Star series models increased by 66% year-on-year in April, and the sales volume of the Zeekr brand also increased by 99% year-on-year to 16,100 units. This shows that Geely's diversified development strategy in the field of new energy has achieved phased results, and the performance of high-end and emerging brands has injected new growth momentum into it.
The new force Hongmeng Zhixing broke through and asked the world M9 to sell well
In addition to traditional car companies, emerging car manufacturers also performed well in April. Hongmeng Zhixing has the most outstanding performance with a sales volume of 29,600 units, ranking among the new power brands. Its popular model Wenjie M9 contributed to the sales of 13,400 units, becoming the brand's star item.
According to the data, as of April 22, the cumulative sales of Hongmeng Zhixing this year have reached 105,000 units, far ahead of the new power brands. People believe that Hongmeng Zhixing can win the favor of consumers with its excellent intelligent network connection and human-computer interaction experience, and at the same time, its deep binding with Huawei in Hongmeng operating system and other aspects also provides it with technical advantages.
Future Trends
Looking at the sales data in April, we can see that the competition between traditional car companies and emerging car manufacturers in the field of new energy vehicles is becoming increasingly fierce. Old car companies such as BYD and Geely rely on brand influence and product strength to maintain their lead, but emerging forces have also achieved breakthroughs with innovative product concepts and technical routes.
With the continuous expansion of the new energy vehicle market, this competitive landscape will continue. Traditional car companies need to accelerate the pace of electrification transformation and continue to innovate. Emerging EV manufacturers need to make great efforts in large-scale production and supply chain management to achieve sustainable development. Both sides need to increase investment in new technologies such as intelligent networking and autonomous driving to seize the commanding heights of future development.
The April 2024 sales figures reflect the dynamism of China's NEV market. This kind of healthy competition will surely promote the innovation and development of the entire industry, so that consumers can get more and better product choices. We have reason to believe that in the near future, China's new energy vehicles will show greater strength in the global market.