On May 11, the China Association of Automobile Manufacturers (CAAM) released the operation of the automobile industry in April 2024. Overall, although the production and sales of automobiles in China decreased slightly month-on-month in April, they still showed rapid year-on-year growth, of which the export of new energy vehicles and automobiles continued to maintain rapid growth year-on-year...... SMM has consolidated this month's relevant data on the power battery and new energy vehicle market for easy access.
Automotive
China Association of Automobile Manufacturers: Vehicle sales in April 2024 will be 2.359 million units, up 9.3% year-on-year
Vehicle production and sales in April totaled 2.406 million units and 2.359 million units, down 10.5% m/m and 12.5% m/m and up 12.8% and 9.3% y/y, respectively. From January to April, vehicle production and sales reached 9.012 million units and 9.079 million units, up 7.9% and 10.2% y/y, respectively, with production growth increasing by 1.5 percentage points and sales growth decreasing by 0.3 percentage points from January to March.
China Association of Automobile Manufacturers: Sales of new energy vehicles in April were 850,000 units, a year-on-year increase of 33.5%
According to data released by the China Association of Automobile Manufacturers, in April, the production and sales of new energy vehicles reached 870,000 and 850,000 units, respectively, an increase of 35.9% and 33.5% year-on-year, respectively, and the market share reached 36%. From January to April, the production and sales of new energy vehicles reached 2.985 million units and 2.94 million units, up 30.3% and 32.3% y/y, respectively, with a market share of 32.4%.
China Association of Automobile Manufacturers: Vehicle exports in April 2024 reached 504,000 units, up 34% y/y
According to data released by the China Association of Automobile Manufacturers, vehicle exports in April totaled 504,000 units, reflecting a 0.4% m/m increase and a 34% y/y increase. Passenger car exports totaled 429,000 units, reflecting a 1.2% m/m increase and a 35.9% y/y increase. Commercial vehicle exports totaled 74,000 units, reflecting a 4.2% m/m decrease and a 24% y/y increase. Vehicle exports from January to April totaled 1.827 million units, reflecting a 33.4% y/y increase. Passenger car exports totaled 1.539 million units, reflecting a 34.8% y/y increase. Commercial vehicle exports totaled 288,000 units, reflecting a 26.5% y/y increase.
According to the data of the Passenger Car Association, the retail sales of the national passenger car market in April were 1.532 million units, down 5.7% year-on-year and 9.4% month-on-month. Since the beginning of this year, the cumulative retail sales have reached 6.364 million units, a year-on-year increase of 8.0%.
In terms of new energy vehicles, the production of new energy passenger vehicles reached 802,000 units in April, up 33.5% year-on-year and 0.9% month-on-month. Wholesale sales of new energy passenger vehicles reached 785,000 units in April, up 30.0% year-on-year and down 3.7% month-on-month. Retail sales of new energy vehicles in April totaled 674,000 units, up 28.3% y/y and down 5.7% m/m. NEV exports in April totaled 115,000 units, reflecting a 26.8% y/y increase and a 4.1% m/m decline.
In terms of exports, the Federation of Passenger Cars said that with the emergence of China's new energy vehicle scale advantage and market expansion demand, China's new energy product brands are increasingly going abroad, and their recognition overseas continues to increase. Exports of new energy passenger vehicles in April totaled 115,000 units, up 26.8% y/y and 4.1% m/m, accounting for 27.9% of passenger vehicle exports, down 2.9 percentage points y/y, of which pure electric vehicles accounted for 78.8% of new energy exports, and A0+A00 pure electric exports accounted for 52% of independent new energy exports.
For the automobile market in April, the China Automobile Association said that in April, the overall economic prosperity level of the mainland continued to expand, the three major indexes continued to remain in the expansion range, the production of manufacturing enterprises continued to accelerate, market demand continued to recover, and the confidence of enterprises in the recent market development was generally stable. China's automobile production and sales declined month-on-month, showing rapid year-on-year growth, of which new energy vehicles and automobile exports continued to maintain rapid growth year-on-year.
Cui Dongshu, secretary general of the passenger car association, commented that due to factors such as price instability, consumers had a strong wait-and-see atmosphere, and the retail sales of passenger cars in April showed a cyclical month-on-month downward trend. The new price war of new energy vehicles has brought a certain increase, but the sustainability is not strong and the internal differentiation is serious. It said that most of the conventional fuel models under the continuous price war have no room for continuous price reduction, so the market is accelerated by new energy vehicles, bringing some users to wait and see, further inhibiting the room for sales improvement.
Power battery
In April, the output of power and other batteries increased by 40.5% year-on-year in 1~4 months
Driven by the demand for new energy vehicles, the output of power and other batteries increased month-on-month in April. In April, the combined output of Continental Power and other batteries was 78.2GWh, up 3.2% month-on-month and 60.0% year-on-year. From January to April, the total cumulative output of Continental Power and other batteries was 262.8GWh, a year-on-year increase of 40.5%.
In April, the installed capacity of power batteries in mainland China was 35.4GWh, a year-on-year increase of 40.9%
In April, the installed capacity of power batteries in mainland China was 35.4GWh, an increase of 40.9% year-on-year and 1.4% month-on-month. Among them, the installed capacity of ternary batteries was 9.9GWh, accounting for 28.0% of the total installed volume, a year-on-year increase of 24.1% and a month-on-month decrease of 12.2%; The installed volume of lithium iron phosphate batteries was 25.5GWh, accounting for 71.9% of the total installed volume, an increase of 48.7% year-on-year and 7.8% month-on-month.
From January to April, the cumulative installed capacity of power batteries in mainland China was 120.6GWh, a year-on-year increase of 32.6%. Among them, the cumulative installed capacity of ternary batteries was 40.8GWh, accounting for 33.8% of the total installed volume, with a cumulative year-on-year increase of 41.2%; The cumulative installed volume of lithium iron phosphate batteries was 79.8GWh, accounting for 66.1% of the total installed volume, with a cumulative year-on-year increase of 28.6%.
In terms of the installed volume of power battery companies, the data shows that the top ten companies in terms of power battery loading volume in January ~ April 2024 are CATL, BYD, China Innovation Airlines, EVE Lithium Energy, Guevenpress Hi-Tech, Honeycomb Energy, Xinwangda, LG New Energy, Ruipu Lanjun and Zhengli New Energy. CATL continued to rank first with an installed capacity of 56.97GWh, accounting for about 47.67% of the market. BYD, which ranked second, has a power battery installed capacity of 28.39GWh, accounting for 23.75% of the market.
In terms of charging piles:
On May 11, the China Charging Alliance released the operation of the national electric vehicle charging and swapping infrastructure in April 2024. The operation of public charging infrastructure increased by 68,000 units in April 2024 compared to March 2024, a year-on-year increase of 47.0% in April. As of April 2024, members of the alliance have reported a total of 2.977 million public charging piles, including 1.315 million DC charging piles and 1.661 million AC charging piles. From May 2023 to April 2024, an average of about 79,000 new public charging piles will be added every month.
From January to April 2024, the increment of charging infrastructure will be 1.017 million units, and the domestic sales of new energy vehicles will be 2.520 million units, and the charging infrastructure and new energy vehicles will continue to grow rapidly. The incremental ratio of pile vehicles is 1:2.5, and the construction of charging infrastructure can basically meet the rapid development of new energy vehicles.
In April, BYD's new energy vehicle sales continued to lead the way, and Xiaomi cars received high-profile treatment!
The figure below is the April sales data of 14 A/H-share listed car companies compiled by the Financial Associated Press, from which it can be seen that in terms of new energy vehicle sales, BYD is still leading the way with undoubted strength, with a total of 313,245 new energy vehicles sold in April, an increase of 48.96% over the same period last year and a slight increase of 3.57% from March. In addition, BYD's overseas overseas sales of new energy passenger vehicles reached a record high of 41,011 units in April. Since BYD released its data in July 2022, its overseas sales of new energy passenger vehicles have exceeded 430,000 units.
According to previous news from Gasgoo, Lu Tian, general manager of the sales division of BYD Dynasty.com, revealed that in the next 8 months, BYD aims to maintain a growth of more than 20% on the basis of 3.02 million units in 2023, in other words, BYD's annual sales target will be 3.624 million units, deducting 939,500 units in the first four months of this year, and the target of 335,600 units per month will be completed in the next eight months.
In terms of new EV manufacturers, Li Auto continued to lead the way in NEV deliveries, with a total of 25,787 new vehicles delivered in April, up 0.4% year-on-year. A total of 106,187 new vehicles were delivered from January to April.
NIO surpassed Leapmotor in April in terms of deliveries, ranking second among new EV manufacturers with 15,620 units, up 134.6% year-on-year and 31.6% month-on-month in April 2023. To date, NIO has delivered a total of 495,267 new vehicles, and is about to usher in the 500,000th production vehicle off the assembly line.
Leapmotor delivered 15,005 vehicles in April, and from January to April 2024, Leapmotor delivered a total of 48,415 new vehicles. The first MPSUV Leapmotor C16 made its debut at the 2024 Beijing Auto Show and started pre-sales, with the number of pre-orders exceeding 11,950 units within 24 hours.
Xpeng delivered 9,393 new vehicles in April, up 33% year-on-year and 4% month-on-month. From January to April, Xpeng delivered a total of 31,214 new vehicles, up 23% year-on-year.
As for Cialis, which has attracted much attention due to the continuous rise in sales of new energy vehicles, the sales increase in April is still very considerable. Its new energy vehicle sales were 27,868, a year-on-year increase of 302.89%.
And in April this year, Xiaomi cars have undoubtedly received much attention, after the launch on March 28, since the first delivery on April 3, as of 24 o'clock on April 30, Xiaomi SU7 delivered 7058 units in April. As of 24:00 on April 30, the number of orders for Xiaomi SU7 has reached 88,063 units, and Xiaomi SU7 is making every effort to expand production capacity and accelerate delivery to ensure that the target of 100,000 units delivered this year is achieved.
For the automobile market in May, the passenger association said that there were 21 working days in May this year, the same as last year, but this year's five-day holiday compressed the production and sales time interval in May, and as the summer off-season approached, the car market entered a stable period. With the implementation of the national policy of "trade-in", the introduction and follow-up of corresponding policies and measures in various places, and the phased cooling of the price war of new products in the auto market, the consumption enthusiasm of the market wait-and-see group has been stimulated, and the market should enter a relatively good stage of development.
The car trade-in policy was released The automobile, battery recycling, and dismantling industries ushered in the outlet
On April 26, the Ministry of Commerce, the Ministry of Finance and other seven departments jointly issued the "Implementation Rules for Car Trade-in Subsidy", which clarified the scope and standards of subsidies. It is mentioned that from the date of issuance of the "Detailed Rules" to December 31, 2024, individual consumers who scrap fuel passenger vehicles with emission standards of China III and below or new energy passenger vehicles registered before April 30, 2018, and purchase new passenger cars that meet the energy-saving requirements can enjoy a one-time fixed subsidy. Among them, a subsidy of 10,000 yuan will be given to those who scrap the above two types of old passenger cars and purchase eligible new energy passenger vehicles; For scrapping fuel passenger cars with emission standards of China III and below and purchasing fuel passenger cars with a displacement of 2.0 liters and below, a subsidy of 7,000 yuan will be provided.
After the subsidy rules were released, the industry generally believes that the automotive industry ushered in a major benefit, Cui Dongshu, secretary general of the passenger association, said that the trade-in policy is a major benefit to the car market, although the vacation time in May is long, but it is expected that the retail sales of the car market in May will be better than in April. In addition, Cui Dongshu also expects that the total amount of scrap should reach nearly 10 million scale, and the car trade-in subsidy will bring millions of increments to private new car consumption in the car market, and can also bring more than 100 billion annual consumption increments. If the policy of scrapping and updating does a good job of one-stop service for scrapping and updating, and car companies do a better job of supporting policies, the expected pulling effect will be more prominent.
In addition, it also said that the continued sluggish consumption of conventional fuel vehicles is an important factor to inhibit the overall recovery of the car market, the old for the new, scrap and update and other policies, reasonably ensure the replacement demand of fuel vehicle consumer groups, the stable development of the car market is of great significance. The country's overall consideration and detailed grasp of the current "promoting consumption and boosting domestic demand" are becoming clearer and more accurate, and the consumption potential of the market's "elimination and renewal" and "replacement and renewal" will be gradually released, which is conducive to the gradual strengthening of the auto market in the next few months.
SMM also expressed its views on this, SMM believes that after the introduction of a series of detailed subsidy policies, it is expected to provide a new wave of assistance for the current growth of new energy vehicle sales within the year. In addition, due to the special subsidy for the purchase of new energy vehicles purchased in previous years, it is expected that the market share of current fuel vehicles will also be reduced to a certain extent. At the same time, the inflow of relevant end-of-life vehicles into the market will further promote the development and optimization of an effective recycling system from the terminal to the recycling market.
According to incomplete statistics from SMM, more than 10 regions, including Beijing, Hainan, Zhengzhou, Nanjing, Jiangxi, Jiangsu, Henan, etc., have issued relevant policies to promote car trade-in, actively promoting the growth of local scrapped car recycling.
Yunnan: By 2027, the recycling volume of end-of-life vehicles will about double compared to 2023, and the transaction volume of used cars will increase by 45% compared to 2023
The Yunnan Provincial People's Government recently issued the "Implementation Plan for Promoting Large-scale Equipment Renewal and Trade-in of Consumer Goods". It is mentioned that by 2027, the scale of equipment investment in industry, agriculture, construction, transportation, education, cultural tourism, medical and other fields will increase by more than 25% compared with 2023. The energy efficiency of the main energy-using equipment in key industries has basically reached the energy-saving level, the proportion of production capacity with environmental protection performance reaching the A-level has been greatly improved, and the penetration rate of digital R&D and design tools and the numerical control rate of key processes in industrial enterprises above designated size have exceeded 90% and 75% respectively. The recycling volume of scrapped vehicles will about double compared with 2023, the transaction volume of second-hand cars will increase by 45% compared with 2023, and the recycling volume of waste household appliances will increase by 30% compared with 2023, and the proportion of recycled materials in the supply of resources will continue to increase.
Jiangxi: Aiming to double the recycling volume of scrapped cars by 2027 compared with 2023, and increase the transaction volume of used cars by 45%
The Jiangxi Provincial People's Government issued the "Implementation Plan for Promoting Large-scale Equipment Renewal and Consumer Goods Trade-in in Jiangxi Province", aiming to increase the scale of equipment investment in industry, agriculture, construction, transportation, education, cultural tourism, medical and other fields by more than 25% compared with 2023 by 2027, the energy efficiency of major energy-using equipment in key industries has basically reached the energy-saving level, the recycling volume of scrapped vehicles will increase by about double compared with 2023, and the transaction volume of second-hand cars will increase by 45% compared with 2023.
For more details, please refer to "Trillion Market Opens!" The automobile, battery recycling, and dismantling industries ushered in the tuyere [SMM Industry Focus]".
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