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On May 11, Hongmeng Zhixing officially announced that after 136 days on the market, the cumulative number of M9 M9 exceeded 80,000 units, setting a new sales record for domestic luxury cars. It can be seen that the competitiveness of domestic auto brands in the high-end market is constantly increasing.
It is understood that the M9 will be officially launched on December 26, 2023, with extended range and pure electric dual power, and the guide price is 469,800-569,800 yuan. Within two hours of its launch, the number of orders exceeded 10,000 units, and within three months, the number of orders soared to 70,000 units.
HarmonyOS Zhixing performed well in the delivery data of all new cars in April 2024, with 29,600 new cars delivered in that month, of which 13,400 were delivered for the M9. This achievement not only surpassed many luxury brands, but also topped the monthly sales list of the domestic market segment of more than 500,000 yuan, demonstrating the strong market influence and consumer recognition of the M9.
According to car blogger Sun Shaojun revealed on Weibo on May 11, the M9 has caused a lot of pressure on traditional luxury brands such as the BMW X5 after the ramp-up of production capacity in April. In some regions, the number of orders for the BMW X5 has dropped significantly, and BMW China has to start thinking about significant price cuts to maintain market share.
Judging from the weekly sales data, the sales volume of the M9 has steadily ranked first in the sales of more than 500,000 units regardless of energy form, and the sales volume is even more than twice that of the BMW X5.
As a domestic luxury car, the M9 has reached the international advanced level in terms of exterior design, interior configuration, and power performance.
Over the past few years, the mainland government has been strongly supporting the development of intelligent and connected vehicles, which has contributed to the rapid growth of the industry. More and more automobile manufacturers have begun to invest in the R&D and production of intelligent networked vehicles, which has promoted the rapid development of the intelligent networked automobile industry in mainland China.
With the continuous advancement of technology and the increasing demand of consumers for intelligent vehicles, the intelligent and connected car industry in China is ushering in unprecedented development opportunities.
Distribution of the value chain of the intelligent networked vehicle industry
The ICV industry chain includes upstream, midstream, and downstream. The upstream covers core components such as lidar, on-board cameras, and on-board chips; Midstream is the manufacture of intelligent and connected vehicles, including the manufacture of passenger cars and commercial vehicles; The downstream covers application fields such as smart transportation, travel services, and logistics services. According to the gross profit margin of each industrial chain, the gross profit level of lidar and on-board chips is relatively high, and the gross profit margin of representative listed companies of lidar is as high as 60%; However, the gross profit level of the midstream automobile manufacturing link is low, reflecting that the industrial focus should be shifted to the upstream core components, and the added value is low
The development of the Internet of Vehicles and intelligent networked vehicles in Beijing, Shanghai, Guangzhou and Shenzhen is relatively leading
The development of the Internet of vehicles is a historic opportunity for local cultivation of new kinetic energy, industrial transformation and upgrading, and improvement of urban governance capabilities. Cities are the best carriers and key "application supports" for the development of China's intelligent networked vehicles. According to the results of the comprehensive assessment of the development of China's urban ICV industry released by the National Intelligent Connected Vehicle Innovation Center and the Society of Automotive Engineers of China, first-tier cities such as Beijing, Shanghai, Guangzhou, and Shenzhen are in the first echelon of urban ICV competitiveness, while provincial capitals and key cities in the eastern region such as Changsha, Hangzhou, Suzhou, Chongqing, Wuhan, Tianjin, and Nanjing are in the second echelon of competitiveness. In addition, cities such as Wuxi, Xi'an, Hefei, Changchun, Zhengzhou, and Chengdu are in the third echelon of competitiveness. Even though there is a large gap between Xiangyang, Cangzhou, Deqing and other cities in terms of industrial competitiveness and innovation competitiveness, they have certain differentiated advantages in terms of policy, testing and demonstration, so the development potential of these cities is greater, considering the important role of policy environment and demonstration application in promoting industrial development.
Prospects for China's intelligent networked vehicle industry
In terms of ICV shipments, according to IDC data, with the gradual improvement of consumers' acceptance of intelligent vehicles, China's ICV shipments will increase from 13.7 million units in 2021 to 24.9 million units in 2025, with an average annual compound growth rate of 16.1%, with broad development prospects.
Wang Chuanfu, chairman and president of BYD Group, pointed out that the development of new energy vehicles will enter the intelligent stage from electrification. He emphasized that intelligence not only includes intelligent cockpit and intelligent driving, but more importantly, the integration of vehicle intelligence and electric technology, which is the right direction for the intelligent development of new energy vehicles.
Li Keqiang, an academician of the Chinese Academy of Engineering, believes that it is necessary to learn from successful experience, strengthen top-level design and planning, improve the system of laws and regulations, and create a good innovation ecology. He proposed to strengthen the consensus on the development of vehicle-road-cloud integration, and support the high-quality development of vehicle-road-cloud integration through five basic platforms: cloud control basic platform, high-precision dynamic map basic platform, vehicle terminal basic platform, computing basic platform, and information security basic platform. In addition, he called for seizing the window period of intelligent networking, accelerating the research and development of key technologies and the construction of industrial ecology, and promoting demonstration applications, so as to accelerate the all-round innovation of regional policies, infrastructure and business models with large-scale demonstrations.
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For more research and analysis of this industry, please refer to the "Analysis Report on the Development Model and Investment Strategic Planning of China's Intelligent Connected Vehicle (ICV) Industry" by Qianzhan Industry Research Institute
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