The overall trend of the domestic automobile market in June 2024 was relatively sluggish due to the continued increase in uncertainty in the external economic environment as well as the continued lack of effective domestic demand. Sales data released by the Passenger Car Association showed that domestic passenger car manufacturers approved and sold a total of 2,169,000 new vehicles in June, a year-on-year decline of 3.0%.

However, it should be noted that, although the car market as a whole is in a downward channel, but the performance of independent automobile enterprises is still remarkable, in June, independent automobile enterprises reached 1,406,000 units of wholesale sales data, a year-on-year increase of 17%, on the contrary, the mainstream joint venture automobile enterprises, in June, less than 500,000 units of wholesale sales (496,000), a year-on-year decline of 30%.

The different performance in the new energy vehicle market is an important reason for the huge market gap between autonomous and mainstream JVs. in June, the wholesale sales penetration rate of domestic new energy vehicle manufacturers has reached 45.3% (an increase of 11.5 percentage points compared to the same period last year), of which the penetration rate of autonomous brand new energy vehicles is as high as 60.7%, while the penetration rate of mainstream JVs' new energy vehicles is only 7.4%. The penetration rate of the mainstream joint venture brands is only 7.4%.

BYD Continues to Set New Monthly Sales Records

BYD has once again set a new record for highest monthly sales.

In June, BYD's overall sales exceeded 340,000 units, once again undisputedly took the monthly sales champion of automobile enterprises. The sales data compiled by Gaijin Auto shows that by June this year, the cumulative sales of BYD's new energy vehicles had exceeded 7.9 million units.

By brand, BYD's Tengshi, Equation Leopard and Yangwang brands, took 12,275, 2,680 and 418 sales figures respectively in June, leaving 325,000 monthly sales from Dynasty and Ocean.

The new Qin L and Seal 06, which “ushered in the 2 era of gas mileage,” were significant contributors to BYD's continued market share gains over the last month. Although complete monthly sales of the two new vehicles have yet to be announced, all signs point to the Qin L and Seal 06, both of which are poised to be the newest big breakthroughs in the car market.

On May 28, shortly after the simultaneous launch of Qin L and Seal 06, Li Yunfei, general manager of BYD Group's public relations department, revealed on air that there were many orders for the new cars, but he chose not to release the data for the time being for fear of causing a shock to the industry.In June, a source broke the news that BYD's weekly orders had exceeded 100,000, which is the first time in the company's history that it has received weekly orders of more than 100,000 units.

The reason why Qin L and Corsair 06 have attracted so much attention is that, in addition to BYD's brand influence, the cost-effective advantages of the two cars are relatively obvious, and by virtue of the first equipped with BYD's fifth-generation DM technology, the two new cars shouted the slogan of “fuel consumption of the second era” has also successfully stimulated the pain point of consumers, coupled with the fact that the plug-in hybrid is the hottest segment of the domestic race track at the moment. The hottest segment of the domestic track, Qin L and Corsair 06 can quickly on the volume, is reasonable.

In addition to the new car rushing volume, the recent layout of BYD in the overseas situation, but also more interesting. First look at the export sales performance, in June BYD sold a total of 26,995 new energy passenger cars in overseas markets, the first half of this year, BYD's cumulative overseas sales have exceeded 200,000 units. In terms of overseas production capacity layout, BYD's first overseas factory in Uzbekistan officially rolled out its first batch of mass-produced new energy vehicles in June, and BYD's factory in Rayong, Thailand, was officially completed in early July. In addition, in terms of the launch of new overseas models and the construction of overseas stores, BYD also made a lot of new progress in June.

Autonomous Share Is Still Rising

BYD's continued outburst can be said to be a microcosm of the overall performance of the domestic strong independent car enterprises, such as Chery, Geely and other mainstream independent car enterprises, although not to deliver BYD this kind of explosive market sales data, but compared to their own past performance, we basically are also in the continuous progress.

Chery continued to stabilize its position as the runner-up in monthly sales, with wholesale sales of 192,000 vehicles in June, up 39.8 percent year-on-year, and even surpassing BYD in terms of growth (up 35.2 percent in June).

Chery's four major brands, all of which are currently showing considerable market competitiveness. Chery Automobile released a production and sales snapshot shows that the Chery brand sold 123,694 vehicles in June, up 28.5% year-on-year; the Star Road brand sold 13,252 vehicles in June, an increase of 34.6% year-on-year; the Jetway brand sold 42,088 vehicles in June, an increase of 94.8% year-on-year; the iCAR brand, which listed its first model in April, sold a total of 5,907 vehicles in June.

At present, Chery Automobile has good results in both the new energy and fuel car tracks. Comprehensive transformation of new energy is the trend, Chery is also actively layout, the first half of this year, Chery Automobile put on the new model summary, more than 80% of the new energy products, and covers a variety of power forms such as plug-in hybrid, pure electric, extended range, and so on, harvested a good market feedback, in the first half of this year, Chery has been cumulative sales of more than 180,000 units. New energy vehicles, a year-on-year increase of 1.8 times. However, in the acceleration of new energy at the same time, Chery also did not give up the fuel car business that still occupies the main position in the market, the first half of the year, Chery's main fuel models have been iterative refresh, continue to enrich the fuel car product lineup. In the first half of this year, Chery sold more than 900,000 fuel vehicles, fuel vehicle sales increased by 35.8% year-on-year.

For Chery Automobile, under the current favorable market situation, the potential crisis also has to face up to - the export business. Chery Automobile's export scale, in the country is one of the top two, but the current international trade situation is relatively large changes in a number of countries and regions of the tariff adjustments, will not be “export large” Chery Automobile caused by a relatively large impact, the follow-up is worth continuing to pay attention to.

Geely's current market impact is also very strong, in June Geely total sales of new cars 166,000 units, up 24.2% year-on-year. Geely is also currently adhering to the new energy and fuel vehicles two fronts go hand in hand model.

In June, Geely's new-energy vehicle sales hit another record high, totaling 65,959 units sold (including Geely, Link, and Pole Krypton), an increase of more than 88 percent year-on-year. Into the second half of the year, Geely will also launch a number of heavyweight new energy models, such as the Link Z10, Galaxy E5, Extreme Krypton MIX, etc., which are all likely to become new market increments in the future. In terms of oil vehicles, Geely's “China Star” series still maintains a stable market “output”, with a total of 33,065 units sold in June, an increase of more than 30% year-on-year. It is worth mentioning that in June, Geely Starlet launched a new version - Starlet Dragon Edition, which lowered the starting price of the Starlet lineup to less than 100,000 yuan (the official guide price is 99,700 yuan). Similar to BYD's Glory Edition, Geely is also currently pushing the Dragon Edition of various models, focusing on the same price cuts and additions to further enhance the cost-effective advantage.