Find the second "curve overtaking", traditional car companies have new energy to launch a big counterattack

Economic Observer reporter Zhou Ju's domestic new energy vehicle market is brewing a new "curve overtaking".

In the automotive industry, two forces have long -term existence and mutual wrestling. First, traditional automobile companies with a long history accumulated and accumulated rich funds are represented by FAW, Dongfeng, SAIC, Changan, GAC, Geely, BYD, Great Wall, Chery, etc., and they are old qualifications in the automotive industry. The other type is a new car manufacturer that emerged from 2014. It is represented by "Wei Xiaoli" and is a new energy vehicle rookie in the automotive industry.

Since its debut, the new car company has achieved surpassing traditional car companies in terms of new energy at a very fast speed. Weilai achieved a total annual sales of 10,000 vehicles in 2018, and then the sales volume continued to rise, and the sales volume reached 91,000 units in 2021; Xiaopeng Automobile later lived up to win the 2021 new car sales champion, with a cumulative sales of 98,000 vehicles; the ideal car; the ideal car In 2021, the annual sales also exceeded 90,000 units. The three are called "three new vehicles".

In contrast, the new energy of traditional car companies was crushed and lost its previous scenery in the field of fuel vehicles. In the ranking of the sales volume of new energy vehicle companies in 2021, "Wei Xiaoli" ranked among the top ten, throwing up a lot of old independent companies such as Geely and Changan, as well as the joint venture in China in China and Toyota.

In addition, while "Wei Xiaoli" has increased sales, it also breaks the price ceiling of domestic independent brands in one fell swoop. The average price of Weilai Automobile products is more than 400,000 yuan, and the ideal ONE has also sold 350,000 yuan. This is the previous traditional car. The price that companies cannot reach are high, whether it is fuel vehicles or new energy vehicles.

而在传统车企中，排名靠前的上汽通用五菱、长城汽车、奇瑞汽车，包括第一名比亚迪，其产品主要销售的是10万元左右，甚至更低的较低端车型，与“蔚The thirty and 400,000 yuan is far apart.

However, the latest situation shows that the pattern of the automotive market may be reversed again, and traditional car companies show signs of "curve overtaking" of new car companies. At present, the new car companies represented by "Wei Xiaoli" have begun to slow down, but traditional car companies have obviously began to accelerate. The weakness of "Wei Xiaoli" is reflected in the sales volume and the capital market. Taking the sales volume in August as an example, Wei Lai, Xiaopeng, and ideals, who were called "three new car giants", appeared in the top three of the monthly sales. Xiaopeng's ideal delivery volume did not exceed 10,000. The vehicle.

In the capital market, after rough calculations, in the past three months, the market value of the three new car manufacturers in the US stock market has evaporated over 300 billion yuan. At the same time, Shen Yanan, executive director and president of the ideal car, and Wang Xing and Shen Yanan, the ideal car shareholder of the ideal car, have cash more than 90 million yuan and 170 million yuan through multiple reductions.

On the other side, the new energy brand of traditional car companies began to emerge. In the list in August, the ATIO interrogation circles jointly launched by Selis and Huawei achieved the first break of 10,000, with a monthly sales of 10045 units, setting a record for the domestic new energy vehicle brands in a single month. Geely's Ji Ji exceeded the 7000 mark in August. In addition, Lantu Automobile and SAIC Zhi Motors from Dongfeng also entered the top ten sales lists, breaking the previous inherent pattern.

In recent years, almost all traditional domestic car companies have launched new high -end new energy brands. They not only compete with new car companies on the same stage, but also compete with the joint ventures and luxury brands of multinational enterprises. Who will be a new round of industry leaders? New energy brands of traditional Chinese car companies have shown strong potential energy.

The ambitions of traditional car companies' new energy brands have been exposed, and Feng Xingya, general manager of GAC Group, set a small goal for the Ean brand: change the current "Wei Xiaoli" to "Er Xiao Wei".

The market value of new vehicle companies evaporates rapidly

The new car company represented by "Wei Xiaoli" was once the darling of the capital market, but now its stock price is rapidly falling.

As of 4 pm on September 22, the Eastern Time, the Weilai Automobile US stock reported at $ 18.35/share, a $ 24.08 from June 24, a decrease of 23.8%, and the market value fell to about 8 billion US dollars, about RMB 57 billion. The ideal car US stock reported $ 24.23/share, a 40.6%fell 40.6%from the $ 40.79/share on June 24, and the market value fell to approximately US $ 17 billion, or about RMB 120 billion. Xiaopeng Automobile US stock reported US $ 13.74/share, down 61.1%from June 24, 35.29 US dollars, and market value dropped to 19 billion US dollars, about RMB 135 billion.

According to this calculation, the stock price of the three new car companies has evaporated over 310 billion yuan in the past three months. At the same time, the market value of the three Hong Kong stocks has also shown a significant shrinkage. If the timeline is extended again, the amount of market value of the three listed companies evaporates a large amount. As a reference, the stock price of Weilai Automobile once reached $ 57/share, Xiaopeng reached up to $ 55/share, and the ideal maximum was over 40 US dollars per share. But now the stock price of the three has fallen sharply. Weilai and Xiaopeng's stock prices are less than half of the peak value.

The market value of the new car listed enterprises has evaporated rapidly, and the first reason is considered to be that traditional car companies have changed the original market pattern. "Traditional car companies, joint ventures, foreign investment, and Internet cars will greatly squeeze the market share of this new forces of car manufacturing." The reporter said. Mei Songlin, a senior analyst at the automotive industry, also said, "The traditional forces have come up, and the new forces of car building cannot be beautiful. Smart and intelligent new energy vehicles created by traditional forces are also fragrant. On the same starting line, each has its own expertise and shortcomings. "Mei Songlin said.

In addition to the rapid offensive of new energy brands in traditional car companies, new energy products from joint venture brands are also squeezing the market space of new car companies. Taking Volkswagen as an example, in August, the two models of Volkswagen ID.4 series entered the top fifteen domestic sales of new energy vehicles, and the total sales of the two had exceeded 10,000.

In fact, from the sales ranking in August, it can be seen that the competition within the new car company is also very fierce. Nezha and Zero Running Cars won the championship and runner -ups of August sales, throwing "Wei Xiaoli" behind him. Due to the relatively low positioning of Nezha and Zero -run cars, it is easier to make breakthroughs in sales.

In addition, the continuous expansion of "Wei Xiaoli" losses has diluted the confidence of investors. Data show that in the second quarter of this year, the net loss of Weilai Automobile reached 2.757.5 billion yuan, an increase of 369.6%year -on -year, and 54.7%month -on -month. The net loss in the second quarter was 641 billion yuan, an increase of 172.2%year -on -year. The "money burning game" of new car companies continues, and there is no profit schedule.

From the current environmental perspective, the US stock market is not friendly to China stocks, and it is also an important factor in the expected decline in the new car manufacturer of capital listed in the United States. However, Cao He said that the US market has a long history to China stocks, and the most dangerous moment of Chinese stocks has passed.

U.S. stocks are no longer the first choice for planning to list new car manufacturers, and they have shifted to Hong Kong stocks. The latest news shows that the zero -run car has passed the listed hearing of the Hong Kong Stock Exchange. This means that Zero Running Cars is expected to become the fourth new vehicle -building enterprise that landed on the Hong Kong Stock Exchange after Weilai, Xiaopeng, and ideal cars.

Traditional car companies seek secondary "curve overtaking"

While the new car companies have reduced their speed, traditional car companies are fighting back. This is evident from brands such as the high -profile interrogation world, Ji Yan, Lan Tu, and Zhi Ho He. GAC Earry, an independent operation, has been at the forefront of the new energy market in the past two years. For traditional car companies, relying on these new brands to achieve the "curve overtaking" of new car manufacturers, it has become another symbol of reshaping market structure.

In the past two or 30 years, the development of China's independent brands has been suppressed by joint venture brands for a long time, but through technological accumulation and product innovation, the market share of independent brands has increased significantly in recent years. According to the China Automobile Association data, in the first eight months of this year, the market share of the independent brand passenger car was 47.8%, a year -on -year increase of 4.9 percentage points. Among them, the market share of the 8 independent brand passenger car reached 48.4%. Nearly 50%of the market share indicates that the independent brand has basically divided the joint venture brand.

After winning the external battle with foreign brands, it is equally important to the internal replenishment on the new energy vehicle track. Under the trend of "new four modernizations", smart new energy vehicles are the key to defeating the future.

In the past few years, whether it is market public opinion or capital hot money, almost all of them have flooded to new car manufacturers. In the process, many traditional car companies realized that if they are not actively transformed, they will lose their qualifications to compete for high -end new energy tracks with the diversion of the battlefield. Such incidents have been staged in many industries. For example, Apple replaces Nokia and Kodak has been surpassed by digital cameras. These business cases have sounded the alarm to traditional car companies.

In July of this year, Luo Yonghao expressed his views on the competitive relationship between traditional car companies and new forces car companies in the live broadcast room. He said: "In the era of electric vehicles, traditional car companies have no chance at all."

However, it is an indisputable fact that traditional car companies are starting a round of "countermeasures". Their means is to throw away the baggage of the original brand and launch a new high -end new energy vehicle brand. At present, the five major state -owned car company groups (FAW, SAIC, Dongfeng, BAIC, Changan) have all launched their own high -end new energy brands. Private car companies Geely, BYD, Great Wall, Chery and other private car companies have also entered the bureau with new high -end brands , Or preview the time of the new brand. From the latest market sales data, it can be seen that traditional car companies have shown the signs of overtaking.

Compared with new car manufacturers, the advantages of traditional car companies are mainly reflected in technology accumulation and financial support, and the gap with new car manufacturers is considered to be mainly reflected in car -making thinking, as well as marketing and user models.

However, traditional car companies have accelerated the shortcomings of new thinking in various ways, narrowing the gap with new car manufacturers. For example, Xiaokang Selius cooperates with Huawei, BAIC Fox cooperation with Huawei, Geely and Baidu joint car building, etc., all set a new brand operation model.

At present, with the cooperation with Huawei, Selis has achieved gorgeous starting from the small brand that has not been seen in the previous name. In terms of marketing and user operating fees, traditional car companies are also constantly innovating in new brands. Jihu Automobile has attracted a wave of attention and favorability to the brand through the form of two consecutive star concerts this year. On the other hand, the new energy brand of traditional car companies is also pursuing institutional innovation, while continuously developing with the power of capital. Among them, in September, GAC Ean announced the completion of the joint -stock reform and will choose to go public; Dongfeng Group's Lantu Automobile's capital increase project information officially disclosed on the Shanghai United Property Exchange. This is the first external equity financing since the establishment of Lantu Automobile. Lantu uses its strategic investment in the company's core technology research and development, digital system construction, production capacity building and marketing investment. In addition, SAIC Zhijie Automobile and Changan Avita Technology have investment actions this year.

Under the wave of electrification, intelligence, and networking, the extension of the current new energy vehicles has been sharply expanded. Auto and electronic communications, AI, big data, new materials, energy storage, transportation, travel and other industries Cross -border integration is getting deeper and deeper. Players in the market are also more diversified. Real estate companies, technology companies, and home appliance companies have joined the major of car building, and the industry competition is unprecedentedly fierce. On the track of smart new energy vehicles, who has not yet reached the time of the deer, but as a traditional car company that has been deeply cultivated in the automotive industry, at this stage, it shows the power that cannot be ignored.

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