According to the latest data from the Federation of passengers, the retail sales of the domestic narrow passenger car market in May 2023 was 1.742 million, an increase of 28.6 percent over the same period last year and 7.3 percent from the previous year. Shanghai Auto Show has become a powerful platform for promoting domestic automobile science and technology progress exchanges and automobile consumption, and the addition of new products and rich and colorful promotion and elimination activities such as local auto shows and the issuance of consumption coupons have a better effect on boosting consumer confidence, the Federation said.
According to the retail sales list released by the Federation of passengers, the top ten car companies basically achieved double-digit year-on-year growth, and there are obvious signs of recovery in the car market. In May, the Ministry of Ecology and Environment and other five departments jointly issued the "announcement on matters related to the implementation of Automobile National VI Emission Standards", which is conducive to market stability. In addition, during the May Day short holiday, many places launched car purchase promotion measures, as well as held car consumption festivals, car carnivals and other marketing activities to help market demand pick up moderately. Of course, the same period in 2022 is still in the stage of great impact of the epidemic, which is also a major reason for the year-on-year increase in May.
As a representative of new energy car companies, BYD's retail sales of 220700 vehicles, an increase of 94.0% over the same period last year, is still the largest increase in car brands. Yesterday, BYD announced that its new personalized brand will be officially named "equation Leopard". Its products will cover new energy models such as cross-country hardliners SUV and sports cars. The first product will be released this year and is expected to cost 40-600000 yuan. From the perspective of brand positioning, equation Leopard positioning is between momentum and looking up, which not only improves the territory of BYD's new energy passenger car, but also is the key layout for BYD to complete the full-field coverage from household to luxury, from Volkswagen to personalized. The addition of new brands can not only enhance brand positioning, but also contribute to market increment for BYD.
Geely Automobile and Changan Automobile play an important role in the domestic automobile industry. Changan car sales rose 50.9% year-on-year in May, second only to BYD, while Geely increased 32.6% year-on-year, according to the Federation of passengers.
On May 9, Geely Holdings and Changan Automobile signed a strategic cooperation framework agreement, the two sides will focus on new energy, intelligence, new energy power, overseas expansion, travel and other industrial ecology to jointly promote Chinese brands. Industry insiders said that the open cooperation between Changan and Geely will help to create a big brand image of Chinese automobiles and give birth to industry synergy. Through the cooperation between the two sides, it covers many aspects, such as new energy, intelligence, new power platform and export business, which will help both sides to occupy more market share in the fierce market competition and promote the development of the automobile industry.
As for Great Wall, sales rose 15.1 per cent in May from a year earlier to 62400, with sales of all its major brands picking up, including 39000 under the Harvard brand, 8946 under the tank brand, 8832 under the Euler brand and 5546 under the Wei brand. During the month, Great Wall launched a number of new cars, such as Harvard Owl Dragon / Owl Dragon MAX and Wei brand new Mocha DHT-PHEV, which achieved more objective market popularity in a short period of time.
Joint venture brands also achieved year-on-year growth, of which SAIC-Volkswagen increased by 35.7% year-on-year to 95000 vehicles, and SAIC GM grew by 24.6% year-on-year to 81000 vehicles, becoming the top two joint venture brands. The main reason is that the impact of the epidemic is still relatively serious in the same period, while SAIC Volkswagen and SAIC GM are headquartered in Shanghai. By contrast, FAW-Volkswagen grew by only 0.2% compared with the same period last year.
Japanese brand differentiation is still serious, only Toyota, Nissan joint venture into the top 10, Honda joint venture fell out of the list again. Among them, sales of Guangzhou Auto Toyota, FAW Toyota and Dongfeng Nissan increased by 10.7%, 12.4% and 12.7%, respectively. All three joint venture brands increased by more than double digits. Figures show that Guangzhou Auto Honda sold 50700 vehicles in May and Dongfeng Honda sold 50400 vehicles.
Overall, the performance of China's automobile market has improved since April, but it is still in the stage of slow recovery, the automobile industry is still facing greater pressure, and the efficiency level of enterprises in the industry is at a low level. According to the current development trend, it is an arduous task to achieve the goal of steady growth in 2023, which requires further recovery and expansion of demand, and comprehensive measures to speed up the release of consumption potential to promote steady growth of the industry.
Wang Chuanfu, chairman of BYD, said at the shareholders' meeting on June 8 that the automobile industry has entered the knockout stage and great changes will take place in the next three to five years. Core technology, good strategic direction and rapid decision-making mechanism are the key to success.
Zhu Huarong, chairman of Changan Automobile, said at the 2022 performance communication meeting that China's auto market is undergoing a reshuffle, with both opportunities and challenges. He points out that 75 car brands have been shut down and merged in the past three years, and 60 to 70 per cent of brands are conservatively expected to face closure and merger in the next two to three years.
Zeng Qinghong, chairman of GAC GROUP, agreed with the view that the automobile industry would be merged and reorganized in the future, joking that "once Huarong (Zhu Huarong, chairman of Changan Automobile) said that there could only be five (vehicle enterprises to stay,)-- 'east, west, north, south, north and west'. It's like playing mahjong. I don't know if I (GAC GROUP) is involved. It is also possible that Huarong merged me in the future. "
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