With the release of market data in the first half of 2024, the mid-year sales report cards of major car companies have gradually surfaced, and in this mid-year sales test, the sales volume of various car companies has basically not changed much, with the excellent performance of its joint venture brand SAIC Volkswagen, SAIC Motor ranks first in sales, followed by BYD, Changan and Geely, and their main sales force is its own brand.
In terms of new forces, it is still ideal and leading, with sales of more than 180,000 units. Compared with the mid-year sales results, the target achievement rate of each car company is actually more concerned, on the one hand, it is a concrete embodiment of the results in the first half of the year, and on the other hand, it also determines whether they can complete the whole case to a certain extent.
Geely Automobile's previous target was 1.9 million units, and the cumulative sales in the first half of the year reached 955,000 units, which is supposed to be half of the target, and it is very likely that the performance will complete the annual target, but Geely later adjusted the target to 2 million units, so the target completion rate is as high as 47.7%. This data not only demonstrates Geely's stable position in the domestic market, but also reflects the richness of its product line and the precision of its market strategy.
In addition to Geely, Changan Automobile and BYD also have a target completion rate of more than 40%, forming the first echelon together with Geely. Among them, BYD has set a target of 3.8 million units, and the target completion rate has reached 42%, which shows its strength, and in the second half of this year, BYD has a number of new cars on the market, including Song L DM-i, and it is very likely to complete the annual target.
Changan Automobile's sales performance is also eye-catching, setting a full-year sales target of 2.8 million units, and 1.334 million units have been completed in the first half of the year, with a completion rate of nearly 50%. In contrast, traditional car companies such as SAIC and GAC have a mid-year completion rate of less than 40% and are facing greater market pressure.
The transformation of these car companies in the field of new energy vehicles is relatively slow, and the product line is not updated quickly enough, resulting in a decline in market competitiveness. In order to cope with this challenge, traditional car companies need to accelerate the development and promotion of new energy vehicles, while optimizing product structure and enhancing brand influence to occupy a favorable position in the fierce market competition.
In addition to traditional car companies, the performance of new forces is not optimistic, only the sales target of more than 40% in the middle of the year, reaching 45.3%, and although the ideal sales are good, the target is relatively aggressive, so the achievement rate is low. Although the achievement rate of new power car companies such as Zeekr, Weilai, Leap, and AVATR is below 40%, their performance in the market cannot be ignored.
In contrast, Xiaomi and Xpeng are under great pressure, especially Xpeng, with a achievement rate of only 18.5%, and the possibility of completing the annual sales target is very small. And Xiaomi's sales are actually good, after all, SU7 is the first model of the new brand, and it is already very good to have such a result, but because of the fierce competition, and the production capacity is still in the climbing stage, the completion rate is not high, and it still faces great challenges.
Overall, the achievement of sales targets by automakers in the first half of 2024 is polarizing. Leading companies such as Geely Automobile, Changan Automobile and BYD performed strongly, while the new players showed strong performance, while other automakers faced varying degrees of challenge. In the face of a complex and volatile market environment, OEMs need to maintain keen market insight, flexible market strategies and strong product competitiveness to meet future challenges and opportunities. At the same time, strengthening brand building, improving consumer services, and promoting technological innovation are also the keys to achieving sustainable development.