The month-on-month growth of new energy passenger vehicles in May exceeded expectations, Tesla's wholesale volume in China rebounded to 32,000 units

On June 9, the latest production and sales data released by the Passenger Car Association showed that the retail sales of my country's passenger car market reached 1.354 million units in May, a year-on-year decrease of 16.9% and a month-on-month increase of 29.7%.

Image source: Passenger Association

According to the analysis of the Association of Passenger Transport Associations, the spread of the new crown epidemic throughout the country gradually decreased in May, and there was a significant improvement in the entry and transactions of customers in the 4S stores of dealers in various places, especially forluxury cars. In May, the retail sales of luxury cars was 180,000, a month-on-month increase. 52%, which shows that the main sales areas of luxury cars such as Beijing and Shanghai were greatly affected by changes in the epidemic prevention and control situation, and the recent improvement has been more obvious.

Although the retail sales in May have improved significantly compared with April, Cui Dongshu, secretary-general of the Passenger Federation, believes that retail sales in May were actually affected by the policy of "halving the car purchase tax", which was implemented on May 23. The signal is released, which puts users who are ready to buy a car in the last week of May in a policy wait-and-see state.

In addition to the sales side, the supply side also improved in May.Thanks to the improvement in the shortage of imported parts and the gradual resumption of supply by domestic suppliers of parts and components in the Yangtze River Delta region, the production of passenger vehicles across the country was resumed in May.Among them, Shanghai's policy of ensuring supply and resumption of production by enterprises has achieved good results, and Changchun and Shanghai have significantly improved their production under the policy of ensuring supply in the industrial chain.

The strong driving force driving the growth of the auto market in May was stillnew energy vehicles.Data show that in May, the production of new energy vehicles reached 432,000 units, a year-on-year increase of 123.2% and a month-on-month increase of 46.8%; retail sales reached 360,000 units, a year-on-year increase of 91.2% and a month-on-month increase of 26.9%; wholesale volume reached 421,000 units, a year-on-year increase of 111.5% %, a month-on-month increase of 49.8%.From the perspective of three indicators, the month-on-month improvement of new energy passenger vehicles in May exceeded expectations, forming a situation in which production was stronger than wholesale and supply recovered well.

Image source: Passenger Association

The Passenger Federation believes that themonth-on-month improvement in the retail sales ofnew energy passenger vehicles is due to the recovery of production by major car companies.It is reported that the output of high-end brands of new energy increased strongly in May. For example, the output of Tesla increased by 212% month-on-month, and the output of Mercedes-Benz increased by about 200%.Among the self-owned brands, the output of BYD, Wuling, SAIC passenger cars and new car manufacturers also recovered well.

From the perspective of the category of new energy passenger vehicles, the retail sales of pure electric passenger vehicles in May reached 268,000 units, an increase of 71.2% year-on-year and a month-on-month increase of 25.6%; An increase of 30.9%.From this point of view, plug-in hybrid models still maintain a strong growth, especially when oil prices are gradually rising, plug-in hybrid models of BYD, Ideal, Wenjie and other brands have grown strongly, driving this segment of the market.

In terms of new energy manufacturers, there were 13 companies whose wholesale sales exceeded 10,000 units in May, accounting for 80% of the total number of new energy passenger vehicles.Among them: BYD 114,183, SAIC-GM-Wuling 37,313, Tesla China 32,165, Chery 21,772, GAC Aian 21,056, SAIC Passenger Car 20,693, Geely 19,270, Changan Automobile 11,922, Great Wall Motor 11,637 vehicles, 11,496 Ideal Motors, 11,009 Nezha Motors, 10,125 Xiaopeng Motors, and 10,069 Leapao Motors.

In terms of wholesale volume of manufacturers, almost all of the above-mentioned car companies have achieved a month-on-month increase in wholesale volume. Among them, Tesla China benefited from the gradual recovery of production in its Shanghai factory, and its wholesale volume increased by 199% compared with April. GAC Aian Wholesale The volume increased by 106% month-on-month, Chery Automobile increased by 39.9% month-on-month, and BYD increased by 8.3% month-on-month.This shows that after surviving the trough in April, the vitality of new energy manufacturers rebounded in May.