At the beginning of the new year, several car companies have disclosed sales (delivery) data for December 2023 and the whole year. As of publication, BYD, Ideal Automobile, Geely Automobile, and Dongfeng Lantu have achieved their annual sales targets for 2023.
The top ten new energy brands in terms of sales are BYD, Aion, Ideal, Great Wall Motors, NIO, Celes, Lingpao, Xiaopeng, Nezha, and Jike. Among them, the representative of traditional car companies, Chuang'er, is now eye-catching, with annual sales generally increasing significantly year-on-year.
Data source: Automotive company announcement
New Forces Accelerate Run
In the second half of 2023, the delivery list of new forces is gradually stabilizing. In December 2023, Nezha Automobile's delivery volume ranked last among new forces, with 5135 vehicles delivered in December, a 60% decrease compared to the previous month.
The top six new forces delivered in 2023 are: Ideal Automobile 376000 vehicles, NIO Automobile 160000 vehicles, Lingpao Automobile 144200 vehicles, Xiaopeng Automobile 141600 vehicles, Nezha Automobile 127500 vehicles, and Jike Automobile 119000 vehicles. Among them, only Nezha Motors experienced a decline in sales throughout 2023.
According to the data from December 2023, Ideal Automobile delivered 50400 vehicles in December 2023, a year-on-year increase of 137.1%, and its monthly sales exceeded 50000 vehicles for the first time; In 2023, 376000 vehicles were delivered throughout the year, a year-on-year increase of 182.2%, exceeding the annual sales target of 300000 vehicles. As of December 31, 2023, the cumulative delivery volume of Ideal Automobile has exceeded 600000 units, making it the highest delivery volume among Chinese new energy vehicle companies.
Xiaopeng Motors delivered 21000 new cars in December 2023, a year-on-year increase of 78%; In the fourth quarter, the cumulative delivery exceeded 60000 vehicles, a year-on-year increase of 171%; In 2023, 141600 vehicles were delivered throughout the year, a year-on-year increase of 17%.
Zero Run Motors delivered 18600 vehicles in December 2023, a year-on-year increase of 119%; In 2023, a total of 144200 vehicles were delivered, an increase of over 29% year-on-year.
NIO Automobile delivered 18000 new cars in December 2023, a year-on-year increase of 13.9%; 50000 new cars were delivered in the fourth quarter, a year-on-year increase of 25%; In 2023, NIO delivered over 160000 new cars, a year-on-year increase of 30.7%; As of the end of 2023, NIO has delivered a total of 449600 vehicles. NIO stated that in 2023, the company's entire product line will complete intergenerational switching, and throughout the year, new models EC7, ES6, ET5T, ES8, and EC6 will be delivered, becoming the world's first intelligent electric vehicle brand to complete vertical switching of technology platforms.
In December 2023, the delivery of Geely Krypton reached 13500 vehicles, reaching a new historical high with a year-on-year increase of 18.9%. In 2023, the cumulative delivery volume of Geely Krypton vehicles reached 118700 units, a year-on-year increase of 65%.
Nezha Automobile delivered 5135 vehicles in December 2023, a decrease of 60% compared to the previous month, making it the lowest delivery month of the year. The cumulative delivery for the year was 127500 vehicles, a year-on-year decrease of 16.2%.
"The second generation" has performed well
In addition, BYD, Geely Automobile, Great Wall Motors, and Celes have disclosed their sales data for new energy in 2023, among which the "second generation" has performed very well.
BYD sold 341000 new energy vehicles in December 2023, a year-on-year increase of 45%. Among them, a total of 36000 new energy passenger vehicles were sold overseas in December. In 2023, the cumulative sales volume was 3.0244 million units, a year-on-year increase of 62.3%. BYD has set an annual sales target of 3 million vehicles for 2023, exceeding the annual sales target and firmly ranking first in global new energy vehicle sales for 2023.
Geely Automobile's sales in December 2023 (including gasoline vehicles, the same below) reached 150000 units, a year-on-year increase of 3%. The total sales volume for the whole year of 2023 was 1.6865 million vehicles, a year-on-year increase of 18%, exceeding the annual sales target of 1.65 million vehicles for 2023.
In December 2023, Great Wall Motors sold 29800 new energy passenger vehicles, a year-on-year increase of 168.59%; In 2023, the annual sales of new energy vehicles reached 261500, a year-on-year increase of 98.39%.
Thanks to the AITO Inquire series, Selis saw a significant increase in new energy sales in December 2023 and throughout the year. In December, the sales of new energy vehicles by Celes reached 42100 units, a year-on-year increase of 153.21%; The annual sales volume was 151800 units, a year-on-year increase of 12.40%. Among them, Selis Automobile sold 31500 units in December, with monthly sales exceeding 30000 units for the first time, a year-on-year increase of 210.03%; In 2023, the annual sales of Selis Automobile reached 106700 units, a year-on-year increase of 33.31%.
Traditional car companies such as GAC Aion and Dongfeng Lantu have performed well in creating the second generation. In December 2023, GAC Aion's sales reached 45900 vehicles, a year-on-year increase of 53%. The annual sales in 2023 exceeded 480000 vehicles, a year-on-year increase of 77%. It is worth noting that GAC Aion has been in operation for 4 years and 8 months, with production and sales exceeding one million vehicles. On the morning of December 28, 2023, a Haobo HT vehicle slowly rolled off the assembly line from the final assembly workshop of GAC Aion Intelligent Ecological Factory, marking a new milestone of 1 million vehicles for GAC Aion.
Dongfeng's Lantu Automobile delivered 10000 vehicles in December 2023, a year-on-year increase of 479%, and delivered 50600 vehicles for the entire year of 2023, a year-on-year increase of 160%, exceeding the annual sales target of 50000 vehicles.
In 2024, the sales of new energy vehicles will reach 11.5 million units
At the same time, car companies have released their outlook for 2024.
On January 1, 2024, Li Xiang, Chairman and CEO of Ideal Automobile, posted on social media stating that "all 2023 goals have been achieved." He also revealed that he will challenge higher goals in 2024: 800000, 100000, 30000, and 2000. According to industry insiders, 800000 is the annual sales volume, and 100000 is the monthly sales volume.
Geely Automobile stated that the board of directors has set the group's sales target for 2024 to 1.9 million vehicles. In addition, the sales target for new energy vehicles is expected to increase by over 66% compared to the total sales achieved in 2023.
The person in charge of Dongfeng Motor told China Securities News that they are very optimistic about the market performance of the group's new energy vehicles in 2024, and there will be a series of new energy products released in 2024.
The China Association of Automobile Manufacturers (CAAM) predicts that the total sales of the Chinese automotive market will reach 31 million units in 2024, of which the sales of new energy vehicles will reach 11.5 million units; The export volume of automobiles will reach 5.5 million units. New energy vehicles and exports remain important forces supporting the growth of the automotive market.
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