Recently, the China Association of Automobile Manufacturers announced the production and sales of the automobile industry in 2023.Data show that the annual automobile production and sales in 2023 will be 30.261 million units and 30.094 million units respectively, a year-on-year increase of 11.6% and 12% respectively. Both production, sales and exports have reached record highs.
Looking forward to 2024, the China Automobile Association predicts that China's total automobile sales will exceed 31 million units, a year-on-year increase of 3% or more.Among them, passenger car sales were 26.8 million units, a year-on-year increase of 3%; new energy vehicle sales were 11.5 million units, and exports were 5.5 million units.
It can be seen that the industry has high hopes for the automobile market in 2024. Recently, many car companies have successively released sales targets and new product plans for 2024.Among them, BYD, the traditional leading car company, has set its sales target at 4.5-5 million vehicles in 2024, while Chery (new energy vehicles) and Geely have set their sales targets at 4 million and 1.9 million vehicles respectively.
The new car-making forces are even more confident. Li Auto will surge from 380,000 units in 2023 to 800,000 units. What is even more exaggerated is Wenjie. The 2024 sales target (600,000 units) is 6% of the 2023 sales volume (90,000 units). More than times, while Weilai and Xiaopeng are more conservative, with sales targets of 230,000 and 280,000 vehicles. Let’s look at the details below.
Chery is no longer polite and aims to be second only to BYD
At present, in the face of the rapid rise of new car-making forces such as Tesla, NIO, Ideal, and Xpeng in the field of new energy vehicles, established car companies such as BYD, Chery, Geely, Changan, and Great Wall Motors are accelerating their new energy transformation. By 2023 The new energy sector has gained a lot in 2024, and has set more challenging goals for 2024.
Recently, BYD held a Dream Day event and officially released the vehicle's intelligent architecture "Xuanji" and "Xuanji AI large model".At the meeting, BYD Chairman and President Wang Chuanfu said, "BYD has the confidence and ability to accelerate the popularization of smart driving."
In 2023, BYD's annual sales will reach 3.0244 million vehicles, a year-on-year increase of 61.9%, and the annual sales target of 3 million vehicles will be achieved.It is reported that BYD's sales target for 2024 is set at 4.5-5 million vehicles.
Compared with 2023, BYD's sales growth in 2024 will be close to 1.5-2 million vehicles. Industry insiders believe that such a goal is not out of reach.
At present, BYD has a rich product matrix in the new energy vehicle market. Consumers also recognize its products very much, and the market penetration rate continues to increase. As the leader of new energy vehicle companies, BYD will naturally increase its power to compete for more Market dividends.
In terms of technology, BYD has launched DM-i hybrid, e3.0 platform, Yi Sifang, Yunnian body control system, blade battery, etc., and its strength in mechanical hardware is very strong.
In addition, the recently released Xuanji architecture is a signal of BYD's efforts in the field of intelligence. From a structural point of view, the Xuanji architecture is composed of main control system, cloud AI + vehicle AI, Internet of Vehicles + 5G network + satellite network, sensor chain + control It is composed of chain + data chain + mechanical chain, which deeply integrates software and hardware. Through the new Xuanji AI large model, intelligent technology is applied to the entire vehicle area.
Not only that, BYD also has strong strength in overseas markets. It has opened many overseas markets, including Europe, North America and Southeast Asia. As the global demand for new energy vehicles continues to grow, BYD's overseas sales have also increased. Significant growth is expected in the coming years.
What is also surprising is Chery. Its sales target for 2024 is second only to BYD, and its sales growth rate exceeds the industry by 10-20 percentage points.It is reported that Chery Automobile may hit the annual sales target of 4 million vehicles in 2024.
In 2023, Chery Group sold 1.881 million vehicles, a year-on-year increase of 52.6%. Annual revenue, sales, and exports created "three historical highs" and achieved the 2023 annual operating goal of "far exceeding the industry growth rate."
In comparison, Chery's sales in 2024 will double those in 2023. Is this what Yin Tongyue, Secretary of the Party Committee and Chairman of Chery Holding Group, said, "In 2024, we will no longer be polite in the new energy vehicle market"?
Judging from Chery Automobile's recent plans, more than 20 new vehicles will be launched in 2024, including 11 fuel vehicles and 10 new energy vehicles. The key models are the hybrid series, represented by the Chery Fengyun series.
At the Guangzhou Auto Show in 2023, Li Xueyong, deputy general manager of Chery Automobile Co., Ltd., once said that the sales target of Chery Fengyun series in 2024 is 200,000 units, and the Fengyun series will focus on hybrid products.
At present, Chery has classified the plug-in hybrid version of its fuel-burning models into the Fengyun series. The first model Fengyun A8 has been launched, equipped with Kunpeng C-DM hybrid system, with excellent range and performance, and the price is also Very competitive.
It is understood that Chery Fengyun series will also launch Fengyun A8 Pro, Fengyun A9, Fengyun T6, Fengyun T8/T8 MAX, Fengyun T9, Fengyun T10, Fengyun T11 and other models in 2024, with products covering various segments.In addition, Jietu's hybrid products and Xingtu's models will help Chery's sales.
Of course, Chery's performance in overseas markets cannot be ignored. Chery Automobile has ranked first in the export of Chinese brand passenger cars for 21 consecutive years. In 2023, Chery Automobile exported 937,148 vehicles, a year-on-year increase of 101.1%. So far, the total number of global car users has exceeded 13 million, including 3.35 million overseas users.
It can be seen that Chery Automobile, which was late to develop its efforts in the field of new energy, began to exert its efforts in 2024 and launched the Kunpeng Super Hybrid C-DM, which redefined hybrid and once again demonstrated to the market the profound "technical Chery" Technical foundation, we look forward to market performance at the end of the year.
GAC Group's annual sales in 2023 will be 2.505 million vehicles, a year-on-year increase of 2.92%.In 2024, GAC Group will challenge the sales growth target of 10%, which is to complete sales of 2.75 million vehicles.Among them, independent brands are expected to achieve sales of more than 1.1 million vehicles, a year-on-year increase of more than 22%.
Judging from the sales structure of GAC Group, thanks to the increase in independent models such as GAC Trumpchi and GAC Ion, the annual sales of independent brands in 2023 will be approximately 890,000 vehicles, a record high, a year-on-year increase of nearly 40%.
At the 2024 Guangzhou Auto Show, GAC Aian stated that it would challenge the sales target of 800,000 vehicles, an increase of 66.6%.From the perspective of product layout, Aian's new models Aian S, Aian Y and Haobo HT will become the key to the sprint goal.
In addition, one of the effective ways to increase sales is to introduce new cars, reduce prices, and improve the car experience.The HaoBo brand announced in a high-profile manner that between January 1 and March 31, those who purchase HaoBo models can enjoy lifetime free charging service.If combined with the launch of multiple new models by GAC Aian, it is expected to reach the target of 800,000 vehicles in 2024.
In 2023, Changan Automobile's sales reached 2.5531 million vehicles, a year-on-year increase of 8.82%. Among them, self-owned brand new energy and overseas sales hit record highs. The group's goal in 2024 is to challenge 2.8 million vehicles.
In the sales structure of Changan Automobile, the sales volume of the self-owned brand segment was 2.204 million units, the sales volume of new energy vehicles was 750,000 units, and the sales volume in overseas markets was 480,000 units.
Specific to its brands, Changan Gravity sold 1.25 million vehicles, Changan Qiyuan sold 250,000 vehicles, Deep Blue Automobile sold 280,000 vehicles, Avita sold 90,000 vehicles, and Changan Kaicheng sold 230,000 vehicles. In overseas markets, Sales volume was 480,000 units.
From the perspective of new vehicle layout, delivery of the Changan Hunter extended-range pickup truck will begin in the first quarter of 2024, the Deep Blue G318 will be launched in the second quarter, Avita's second SUV E15, Deep Blue C857, and Changan Kaicheng G393 will be unveiled in the third quarter. Changan Qiyuan CD701, Avita mid-size coupe E16, Changan Qiyuan C798, and Changan Mazda J90A will join the product lineup in this quarter.
At the 2024 Changan Automobile Global Partner Conference, Changan stated that Changan Qiyuan is the new cornerstone of future development. In terms of product planning and sales targets, Changan Qiyuan plans to create three 300,000-unit products and two 200,000-unit products. , forming a classic product portfolio of A series, Q series and E0 series, achieving a scale of 1.2-1.5 million vehicles by 2030.
In addition, Changan's latest SDA platform architecture will be the first to be installed on Changan Qiyuan. The first product CD701 will meet everyone in October this year and will be officially launched within the year.It is reported that Changan Automobile will have 8 new new energy products on the market this year, including CD701.
In addition, Changan Automobile also announced that the group's sales target is 3.5-4 million vehicles in 2025; in 2030, the group's sales target is 5 million vehicles, and it will become a world-class automobile company.
Looking at Geely Automobile again, total sales in 2023 were 1.6865 million vehicles, a year-on-year increase of about 18%, exceeding its sales target of 1.65 million vehicles for 2023 and setting a record high.In 2024, Geely Automobile Group has set a target of 1.9 million vehicles, of which new energy sales will increase by more than 66%.
In addition, Geely will launch advanced three-electric and intelligent new technologies and new achievements in 2024, such as a new pure electric architecture, a new electric drive, CTB chassis, self-developed batteries, AI smart cockpits, urban commuting NOA, and satellites, and continue to deepen new technologies. Energy and intelligent transformation.
Since the rapid rise of Geely's Galaxy series of products, Geely's new energy vehicle sales have also experienced rapid growth. In the past 2023, Geely's cumulative sales of new energy vehicles reached 487,400 units, a year-on-year increase of over 48%, and the market penetration rate exceeded 40%. Therefore, its sales growth target for 2024 is more than 66%.
Next, with the arrival of blockbuster new cars such as Lynk & Co 08, Ji Krypton 007, and Galaxy E8, Geely's new energy main line has become increasingly clear. However, it is worth noting that the competition among new energy vehicles is becoming increasingly fierce. Geely Automobile, which has a sales target of 1.9 million vehicles in 2024 and a sales growth of over 66% in new energy vehicles, must continue to improve and prepare for a protracted war.
Finally, looking at Great Wall Motors, the cumulative sales in 2023 will be 1.23 million vehicles, completing 77% of the sales target of 1.6 million vehicles.Among them, the cumulative sales of new energy vehicles reached 262,000 units, a year-on-year increase of 98.74% thanks to a low base; the cumulative sales in overseas markets reached 316,000 units, a year-on-year increase of 82.48%.
In 2023, Great Wall Motors failed to complete its vision of "taking off after squatting". In 2024, Great Wall Group set a sales target of 1.9 million vehicles. A matrix composed of brands such as Haval, WEY, Tank, Great Wall Pickup, and Euler will jointly impact this sales volume. At the same time, we must continue to deepen our efforts in the field of new energy and find sales growth points.
Wenjie is ambitious, while Weilai and Xiaopeng are slightly conservative
In 2023, after the new car-making forces have experienced a cruel baptism, some people are happy and others are worried.While various companies are advancing rapidly, some companies are gradually disappearing from people's sight.2024 has arrived as scheduled, and while the major new car-making forces have handed over last year's answers, they have also set target sales for the new year.
In 2023, Li Auto achieved its sales target and was confident in its future development prospects. Therefore, it doubled its annual delivery volume in 2024 to 800,000 vehicles, delivered 100,000 vehicles in a single month, and delivered 30,000 bicycles per month. The number of stations reaches the target of 2,000.Although this sales target seems very challenging, there is also evidence to follow.
From the perspective of product launch, Li Auto will have 8 products in 2024, including the three old models of Li Auto L7/L8/L9, which will be revised and upgraded in March. The first pure electric MPV model Li Auto MEGA will also start delivery at the same time. In addition, the Lili L6 will be launched in April to enter the market below RMB 300,000, and three pure electric models will be launched in the second half of the year.
By the end of 2024, Li Auto will have 4 extended-range SUVs and 4 pure electric models, with both extended-range and pure electric models, and 8 models working together. It cannot be said that Li Auto will double its annual delivery volume in 2024 to challenge the target of 800,000 vehicles. No chance at all.
However, Ideal's sales target of 800,000 units is not without pressure. On the one hand, competition in the extended-range market is fierce, and Wenjie, a dark horse, is very lethal; on the other hand, Ideal has entered the pure electric market, and MEGA's competitive products are strong. It is very strong, and it will not be easy to seize the market.
If Li Auto's sales target is a bit aggressive, then Wenjie's ambitions are even greater. According to the 2024 sales target conveyed by Wenjie to its suppliers, Wenjie Auto plans to deliver 600,000 new cars throughout the year, which is higher than the total in 2023. More than 6 times the sales volume.
Although Huawei's intelligent selection technology has made the new Wenjie M7 a huge success, and Wenjie M9 is expected to exceed 10,000 units within 2 hours of its launch. Wenjie's momentum has shocked the industry, but the 6-fold sales target is still a bit disappointing. A sweat."
In terms of product planning, in addition to the Wenjie M9, Wenjie also plans to launch a new SUV model, the Wenjie M8. The current best-selling model of Wenjie is the new M7. If the popularity of this car fades, will sales continue to grow in the future? Put a question mark on it.
Relatively speaking, NIO and Xpeng Motors are more pragmatic. NIO has set a sales target of around 230,000 vehicles. An average of 20,000 vehicles per month can complete the task, which is even better than the target of “30,000 vehicles per month” in 2023. decline.
In 2023, NIO completed 64% of its sales target. Li Bin admitted that last year was a challenging year for NIO. The overall performance did not meet the expected target, and it is necessary to learn lessons and improve organizational capabilities.
In this regard, Li Bin clarified NIO's three high priorities in 2024 in an internal letter: ensuring long-term investment in core and key technologies, maintaining the leading edge of technology and products and delivering them on time and with quality; ensuring that sales and service capabilities can cope with the situation. Fierce market competition will convert sales energy into sales volume as soon as possible; ensure that the research and development of nine core products of three brands are carried out on schedule.
Judging from the sales target for 2024, NIO's low setting seems to be unconfident.However, a closer look at Weilai's product plan for 2024 shows that lowering expectations is actually its most realistic and pragmatic behavior.
Li Bin of NIO once said that the capability that needs to be improved most in 2024 is still the system capability. The task of launching new cars is relatively small, but it will continue to sell the current 8 cars. Only the sub-brand Alps plans to launch its first SUV in the second half of the year. This is a good example for NIO. This provides a window of opportunity to improve system capabilities.
Xpeng Motors' sales target for 2024 is 280,000 vehicles, which is twice the annual sales in 2023. The average monthly sales volume will reach 23,000 vehicles, which is a pragmatic type.Since the adjustment of the organizational structure and the launch of Xpeng G6, Xpeng Motors has come out of the trough and has a clear upward trend.
From a product perspective, Xpeng Motors launched the MPV model X9 Comprehensive innovation from driving technology to comfort and safety.
Recently, Xpeng Motors has once again launched new products. The 2024 Xpeng P5 has been officially launched. In addition, the 2024 Xpeng G9 has also been launched. Many new cars have also contributed to the sales growth of Xpeng Motors.
In addition, Xpeng will launch 3-4 new cars in 2024. The mid-size sedan code-named F57 will succeed the Xpeng P5, the A-class SUV code-named F61 will succeed the Xpeng G3, and the A+-class sedan code-named F59 will further broaden Xpeng's The product line, overall, is relatively affordable.
Leapmotor has set its 2024 target at 200,000-300,000 vehicles (estimated), with a month-on-month growth rate of 42.9%-114%, and average monthly sales of more than 20,000 vehicles.Taking into account the sales performance of Leapmotor in 2023, and after reaching a strategic cooperation agreement with Stellantis Group, Leapmotor will also launch an overseas plan this year, and it is not difficult to maintain monthly sales of around 20,000 vehicles.
Finally, looking at the "second generation" among traditional car companies, Deep Blue Motors' target volume in 2024 is 450,000 vehicles, an increase of 221% from 2023, and it needs to sell an average of 37,500 vehicles per month, which is quite a huge task. challenges.
To this end, Deep Blue plans to launch 2-3 new models in 2024, so that each product can become a hit in the market segment.In addition, Deep Blue has also launched a number of innovations in the technical field, including super extended range technology, golden bell battery, etc., to improve the competitiveness of its models.
As a new energy brand under the Geely Group, Jikrypton Automobile is developing rapidly. The sales target in 2024 is set at about 230,000 vehicles, with an average of 20,000 vehicles per month, which is not a small challenge. It is understood that Jikrypton will launch at least two new cars, including the Jikrypton CX1E SUV model based on the Jikrypton 007 and the station wagon.
Zhiji Auto's sales target for 2024 is 120,000-130,000 units. Judging from the product sales structure in 2023, Zhiji LS6 sales account for nearly 60% of the total sales of the Zhiji brand (38,300 units), which shows that Zhiji L7 and LS7 are in urgent need of development. , there is still pressure to achieve monthly sales exceeding 10,000 in 2024.
Summary:Industry insiders say that the new energy brands of traditional car companies will perform better in 2024. The reason is that the best-selling new energy vehicles currently on the market are mainly plug-in hybrids and extended ranges, while the new forces are mainly concentrated in pure electric models, facing Competition pressure is high.
Judging from the sales targets of car companies in 2024, some car companies are relatively rational, but some are very radical and have little hope of achieving it.Of course, sales targets are just good expectations for the new year. Car companies should think about how to gain a foothold in the fiercely competitive market. After all, only with increased scale and market share can they avoid being eliminated.
