After experiencing a comprehensive recovery in March, the domestic car market faced sales pressure once again due to the off-season and holidays. The performance of the "new forces" camp, which has attracted much attention, varied.
On May 1st, Xiaomi's car division released the first report card since the delivery of the SU7. Starting from the first delivery on April 3rd, Xiaomi SU7 completed the delivery of 7,058 vehicles in April.
As of 24:00 on April 30th, Xiaomi SU7 had a lock-in volume of 88,063 vehicles. According to data provided by Xiaomi Motors, females accounted for 28% of car buyers, BBA owners made up 29%, and Apple users represented 52.5%.
Subsequently, Jike and Lantu separately released their April delivery data. Jike delivered 16,089 vehicles in April, marking a 23.65% increase from the previous month and a 98.61% year-on-year growth, achieving its best monthly performance since its establishment.
In terms of charging infrastructure, Jike Energy surpassed a thousand self-built charging stations in April, reaching 1,028 stations.
Lantu delivered 4,003 vehicles in April, showing a 19.89% year-on-year increase but a 34.61% decrease from the previous month. The cumulative sales for the first four months of this year reached 20,348 vehicles, reflecting a 125.56% year-on-year growth. On the same day, Lantu announced its latest car purchase policy, offering up to 50,000 yuan in trade-in subsidies for all models starting immediately. Despite a slight decline in sales compared to the previous month, Lantu reaffirmed its sales target of 100,000 vehicles in 2024, aiming for a 100% year-on-year growth.
In a departure from previous months, AITO Wanjie and Zhijie for the first time disclosed their performance under the brand identity of "Hongmeng Intelligent Travel" in April.
In April, Hongmeng Intelligent Travel delivered a total of 29,632 vehicles, with AITO Wanjie delivering 25,086 vehicles and Zhijie delivering 4,546 vehicles.
Specifically, the Wanjie M9 model exceeded ten thousand deliveries for the first time, reaching 13,391 vehicles, ranking first among luxury cars priced above 500,000 yuan, with a total of over 70,000 orders; the new Wanjie M7 delivered 10,896 vehicles; and the recently relaunched Zhijie S7 achieved a new monthly delivery record of 4,546 vehicles.
The strong performance of the popular models under Hongmeng Intelligent Travel also boosted the financial performance of Sailis. According to Sailis' first-quarter report for 2024, it achieved a net profit of 220 million yuan, with a gross profit margin of 21.5%; revenue reached 26.561 billion yuan, a 421.76% year-on-year increase; benefiting from the increase in sales of new energy vehicles, the net cash flow from operating activities in the first quarter of 2024 was 1.187 billion yuan. "The AITO Wanjie series continues to perform well in the market, demonstrating economies of scale," stated Sailis.
In contrast to AITO Wanjie's alternating lead in the rankings, GAC Aion, with its "new strength," saw a decline in sales in April to 28,113 vehicles, both year-on-year and month-on-month.
Facing lower-than-expected performance at the retail level, GAC Aion promptly responded by announcing a limited-time car purchase policy for May. Specific measures include a 99,800 yuan "drive away" offer for the 430km range version of the AION Y Plus model, with full insurance coverage for all models; up to 20,000 yuan in renewal gifts for purchasing the AION S MAX; and zero down payment and up to 10,000 yuan in trade-in subsidies for the AION LX Plus series.
The "new forces" in the second-tier market showed mixed results. In April, Deep Blue Motors delivered 12,744 vehicles, a 64.31% year-on-year increase but a 2.33% decrease from the previous month; Avita delivered 5,247 vehicles in April, a 4.61% month-on-month increase.
"The performance of the automotive market in April was lower than the previous month, influenced by traditional off-season, the Qingming Festival holiday, and extreme weather conditions in some regions, leading to relatively lower consumer willingness to buy cars. On the other hand, the upcoming May Day auto show and the release of the 'Promotion Plan for Trading in Old for New Consumer Goods' have attracted consumer attention, causing a delay in car purchases in April." Looking ahead to May, the China Automobile Dealers Association believes that with the arrival of the May Day holiday and the gradual launch of auto shows across the country, along with various marketing activities, consumer interest and enthusiasm for car purchases will increase. "The release of the 'Implementation Rules for Subsidies for Trading in Old Cars for New Ones' by the Ministry of Commerce and six other ministries clarifies the details of the central government's subsidies for scrappage renewal, and consumers who have been waiting are expected to start converting into car buyers."
