According to the latest data from the Passenger Car Market Information Joint Association (Passenger Car Market Information Association), from July 1 to 28, 2024, the retail sales of China's passenger car market reached 1.392 million units, a decrease of 3% from the same period last year. A decrease of 11% compared with the same period.

However, the field of new energy vehicles presents a different picture. The retail sales from July 1st to 28th were 722,000 vehicles, an increase of 31% compared with the same period in July last year. Although it was down 5% from the same period last month, the cumulative sales this year The retail sales of new energy passenger vehicles have reached 4.835 million units, a year-on-year increase of 33%.

Previously, according to statistics from the China Association of Automobile Manufacturers, the penetration rate of new energy vehicles in the domestic market exceeded 50% for the first time in June to 50.72%, and the sales of new energy vehicles of many brands reached record highs. The penetration rate of new energy vehicles will reach a new high in July.

The following is the July sales data released by a number of new energy brands.

● BYD Auto (01211.HK): Sales volume in July was approximately 342,400 vehicles, a year-on-year increase of 30.6%; cumulative sales in the first seven months were approximately 1.9554 million vehicles, a year-on-year increase of 28.83%.

●Geely Automobile (001775.HK): Total sales in July were 150,800 cars, a year-on-year increase of approximately 13%.

●Great Wall Motors (02333.HK): Car sales in July were approximately 91,300 units, a year-on-year decrease of 16.32%; cumulative sales in the first seven months were approximately 651,000 units, a year-on-year increase of 3.6%. Among them, 24,100 new energy vehicles were sold in July, and the cumulative monthly sales during the year were 156,500 units.

●Li Auto (02015.HK): Li Auto delivered 51,000 new cars in July, a record monthly delivery volume, a year-on-year increase of 49.4%; a total of 240,000 vehicles were delivered in the first seven months.

●NIO-SW (09866.HK): Delivery volume in July was 20,498 vehicles, a year-on-year increase of 0.2% and a month-on-month decrease of 3.4%.

●Xpeng Motors-W (09868.HK): Delivery volume in July was 11,145 vehicles, a year-on-year increase of 1% and a month-on-month increase of 4%.

●Nezha Automobile (initiating IPO): 11,015 units of the entire series were delivered in July, a year-on-year increase of 9.7% and a month-on-month increase of 8%.

Competition for new energy vehicles continues to intensify

Since the beginning of this year, competition in the new energy vehicle market has further intensified, and changes in model prices and sales have affected the market.

Entering the second half of the year, the price competition among car companies has not yet ended. On the evening of July 29, Fangbao, a subsidiary of BYD, announced the brand's first-anniversary refresh strategy. The price of the entire "Leopard 5" model series has been reduced by 50,000 yuan. BYD has cut prices several times this year.

The smell of gunpowder among new energy vehicle executives

Recently, Ideal’s weekly sales rankings have caused dissatisfaction among senior car company executives such as Weilai and Geely. On the evening of July 30, Ideal CEO Li Xiang responded on social platforms with illustrations and emoticons of "hiding one's ears and stealing the bell". Ma Lin, NIO's assistant vice president of brand and communication, said that the company will publish audited monthly deliveries and believes that the weekly list will interfere with the company's normal operations. Putting products of different price points and categories in one list cannot reflect the market. objective situation.

In addition, car companies are planning to launch new models. The second brands of Xpeng Motors and NIO will be launched in the second half of the year, and the prices will sink. Hongmeng Smart’s first executive-level flagship sedan, the Xiangjie S9, co-operated by Huawei and BAIC, will be released on August 6. Jianghuai Automobile will also launch a luxury smart new energy vehicle built in cooperation with Huawei.

Accelerate end-to-end large model layout

In July, car companies such as Xpeng and Ideal made progress in the field of end-to-end large-scale autonomous driving models, which are regarded by the industry as the mainstream technical route to achieve fully autonomous driving. The end-to-end large model integrates perception, decision-making, and control modules to achieve end-to-end processing from perception to control, which can process data more efficiently, improve system performance and response speed, and help reduce costs.

On July 5, Lideal pushed the image-free NOA “available nationwide” to all Lideal AD Max users and released a new autonomous driving technology architecture based on the end-to-end model, VLM visual language model and world model. At NIO's Innovation and Technology Day on July 27, it released the end-to-end architecture of the self-developed NIO world model to improve the safety and anthropomorphism of intelligent driving. On July 30, Xpeng Chairman and CEO He Xiaopeng announced that the XOS 5.2.0 version of the AI ​​Tianji system will be fully released to users around the world, realizing the full nationwide opening of the XNGP intelligent assisted driving system.

What is the future of the new energy vehicle industry?

On July 10, consulting firm AlixPartners shared the "2024 Global Auto Market Outlook" with the Chinese media. It is expected that by 2030, new energy vehicles will account for 45% of the global market and account for 45% of the market share in China. It will increase significantly from 41% this year to 77%.

Due to the prevalence of global trade protectionism, Chinese car companies are expanding economies of scale based on their own advantages through strategies such as localized production and technology exchange for markets. Ai Ruibo predicts that by 2030, Chinese brands will occupy 72% of the local market share and 33% of the global market share.

Tang Xuxia, an analyst at Guosen Securities, believes that the current intelligentization of automobiles has achieved technological breakthroughs, and there is huge space for intelligent driving. Technology iteration and product penetration are expected to accelerate.