On March 1st, several new energy vehicle companies announced their sales performance for February 2024. However, due to the traditional Spring Festival sales season, the overall growth of the car market has slowed down, and the delivery volume of most car companies has decreased compared to the previous month. Only AITO Wenjie and Ideal sold over 10,000 units in February, while Xiaopeng and Leapmotor saw a decrease of over 40% compared to the previous month. AITO Wenjie February sales: 21,142 vehicles Data shows that AITO Wenjie, under Huawei’s HarmonyOS Smart Mobility, delivered a total of 21,142 new vehicles in February, once again surpassing Ideal Car. Among them, the new M7 was the best-selling model, with 18,479 units delivered in February. AITO Wenjie officials stated that since its launch in September 2023, the cumulative pre-orders for the new M7 have exceeded 150,000 units.
In addition, the official announcement from AITO Ideal Car stated that the “Pioneer Plan” launched by AITO M9 has achieved a successful result of receiving over 50,000 orders, and officially started nationwide delivery on February 26. Currently, the new M7 has become the sales leader for AITO Ideal Car, while the sales of AITO M9 are also rapidly increasing. On February 21, AITO Ideal Car announced the acceleration of the delivery cycle for the M5 and the new M7, and efforts are being made to increase production capacity, significantly shortening the delivery cycle for the M5 and the new M7. Previously, AITO Ideal Car also stated that in order to improve production speed and quality, the entire supply chain of the Smart Factory of AITO Ideal Car has invested over 1 billion and increased more than 20,000 people to ensure high-quality and fast delivery, with the factory operating continuously for 22 hours a day. According to media reports, AITO Ideal Car’s annual sales target for 2024 is 600,000 vehicles. Currently, the AITO Ideal Car series includes the M5, M7, and M9 models. In terms of new models, the new M5 will be launched in the first half of this year, and a completely new model, the M8, will be launched in the second half of the year, with at least 4 models available under the AITO brand. Ideal Car February sales: 20,251 vehicles According to the delivery performance of new cars in February 2024 released by Ideal Car, a total of 20,251 new cars were delivered, an increase of 21.8% year-on-year, and a decrease of 35% from the previous month. From January to February this year, a total of 51,416 new cars were delivered, with a cumulative delivery of 685,000 vehicles since delivery.
Li Xiang said, “In February, after experiencing an 8-day Spring Festival holiday and the sale of some models of the ideal L series, we still achieved nearly a thousand deliveries per day, a significant increase from last February.” On March 1st, the first pure electric product, the ideal MEGA, was officially launched with a selling price of 559,800 yuan (77760$). The battery is equipped with a Kirin 5C chip with a capacity of 102.7kWh, and the CLTC pure electric range reaches 710km. The most important thing is that the ideal MEGA, when using supercharging, can charge for 12 minutes and gain 500km of energy. It can be said that the ideal MEGA is a groundbreaking product created for large families, with strong product capabilities, and effectively solves the problem of long-distance range anxiety for electric vehicles. In addition, the 2024 model of the ideal L series also debuted simultaneously. The new car further advances the advantages of endurance, comfort, and safety on the basis of the original models. According to official information from Ideal Motors, the 2024 model of the Ideal L series will feature the Magic Carpet air suspension as standard across the entire range, equipped with a 52.3kWh large battery extended-range electric system, and a standard 9 airbags. Additionally, it will have new dual-chamber far-end airbags, and the intelligent space chip will all be upgraded to the Qualcomm 8295, better meeting the needs of family users. Ideal car pointed out that with the delivery of Ideal MEGA and the 2024 Ideal L series, it is expected that the monthly delivery level will be restored to 50,000 vehicles in March and the monthly sales target is expected to exceed 70,000 vehicles by June. According to previous reports, Ideal cars’ 2024 sales target is to challenge 800,000 vehicles, with a monthly delivery volume of 100,000 vehicles, and a monthly delivery volume of 30,000 vehicles for a single model, with more than 2,000 supercharging stations. Currently, Ideal’s first pure electric MPV model MEGA, the new L series L7, L8, and L9 have all been launched. Next month, Ideal will also release a new hybrid SUV model L6. This year, M7, M8, and M9 three pure electric SUVs are also expected to be launched. With the rich product matrix, it is expected to help increase sales. In addition, Ideal cars continue to increase investment in marketing and channel construction, planning to add more than 330 direct-operated retail centers, expand urban showrooms to fourth and fifth-tier cities, and achieve 100% coverage in third-tier cities and over 70% in fourth-tier cities by the end of 2024, bringing professional products and services to more families. Deep Blue Car February sales: 9,994 vehicles Data shows that Deep Blue Car’s February delivery volume was 9,994 vehicles, close to 10,000 vehicles. The cumulative sales volume from January to February 2024 was 27,036 vehicles. In the face of the market price war, on February 29, Shenlan Motors announced the launch of the Shenlan SL03 Glory Edition, with a price reduction of 6000 yuan (830$) for the entry-level model, and also introduced the 2024 Shenlan S7 Glory Edition, with even more cost-effectiveness.
Currently, Deep Blue has two models, S7 and SL03, on sale. According to the plan, Deep Blue aims to sprint to a sales target of 450,000 vehicles this year. In terms of new cars, the Deep Blue G318 will be launched with a price tag of around 300,000, positioned as a hardcore new energy off-road vehicle. It will be launched in the second quarter of 2024, with competitors such as Tank 400 Hi4-T and Formula Leopard 5. In the third quarter, Deep Blue will launch a model with the codename C857. There are reports that this is a compact SUV, possibly positioned below the S7, with a starting price of 100,000, further lowering the entry threshold for Deep Blue hybrid models. Competitors will include models such as the Leap C10. NIO February sales: 8,132 vehicles Data shows that NIO delivered 8,132 new cars in February, a 33.1% year-on-year decrease and a 19% decrease from the previous month. From January to February, a total of 18,187 new cars were delivered. As of now, NIO has delivered a total of 467,700 new cars. The decline in NIO’s sales is mainly due to the impact of the Spring Festival holiday.
On February 22, NIO launched its 2024 models, including 7 models with prices ranging from 298,000 to 598,000 yuan (83060$). Deliveries of the 2024 ES8, EC7, ES6, EC6, and ET5T will begin in March. The 2024 models have upgraded chips and computing power compared to the 2023 models. In order to boost sales and make room for the new models, NIO has introduced discounts for its older models. Cash discounts for display cars range from 24,000 to 40,000 yuan (5560$), with the ET5T, ET5, ES6, and EC6 models receiving a 24,000 yuan (3330$) discount, and the ET7, ES7, and ES8 models receiving a 32,000 yuan (4440$) discount. Display cars that have been available for over 120 days will receive a 40,000 yuan (5560$) discount. The year 2024 poses a significant challenge for NIO, with a full-year sales target of 230,000 vehicles. Since there are no new models, only updated ones, it remains to be seen if NIO can still attract more consumers. Previously, NIO’s founder and CEO, William Li, stated, “2024 and 2025 will be two years of explosive growth in the high-end pure electric vehicle market. The qualifying rounds will enter the later stages, and I am very confident about this.” JiKe Car February Sales: 7,510 vehicles Data shows that JiKe Car delivered 7,510 new vehicles in February, a 38% year-on-year increase but a 40% decrease from the previous month. From January to February this year, a total of 20,047 new vehicles were delivered, a 134% year-on-year increase. As of now, the JiKe brand has delivered a total of 216,680 vehicles.
On February 27, the all-new 2024 NIO ET7 officially went on sale and deliveries began on March 1. The 2024 NIO ET7 features an upgraded 800V high-voltage system, with 1118 upgrades compared to the previous model, and has evolved comprehensively in terms of powertrain, driving control, cabin, safety, and intelligence, maintaining its “king of the road” status, with a starting price of 269,000 yuan (37360$). Currently, the NIO EC6 is becoming the main driver of NIO’s sales growth, ranking second in sales of electric cars priced at around 200,000 yuan (27780$), second only to the Tesla Model 3. The goal of the NIO EC6 is to surpass the Model 3, but it still needs to overcome production capacity challenges, which will take time. Official information shows that NIO’s sales target for this year is 230,000 units, aiming to become the top-selling Chinese electric brand with sales of over 200,000 units. According to the long-term plan, NIO aims to achieve a sales target of 650,000 units by 2025. Currently, NIO has four models on sale: the NIO EC6, NIO ET7, NIO ES9, and NIO ES8, as well as the performance supercar NIO ET7 FR based on the NIO ET7. For future products, NIO has planned two SUV models, including an SUV with the internal code name CX1E. In terms of charging infrastructure, NIO has set the goal of establishing a thousand ultra-fast charging stations by 2024 and aiming for a total of ten thousand ultra-fast charging stations by 2026. Starting from March 1, the NIO ET7 will offer high-speed NZP services in six cities including Changsha, Shenyang, Wuhan, Xi’an, Zhengzhou, and Xiamen. Lingzhi Automobile February sales: 6566 units Data shows that Lingzhi Automobile delivered a total of 6566 new cars in February, a year-on-year increase of 105.3% but a month-on-month decrease of 46.5%. The cumulative sales for January and February 2024 reached 18,843 units. Official data shows that the pre-sale orders for the Lingzhi C10, which officially began on January 10, exceeded 45,000.
On March 2, the Zero Run C10 was officially launched, with a range-extender version priced at 13.58-16.58 million yuan and a pure electric version priced at 12.88-16.88 million yuan, once again confirming the title of “Roll King”. The Zero Run C10 is a global model, equipped with Zero Run’s latest LEAP 3.0 architecture, providing range-extender/pure electric power. The new car is equipped with Qualcomm Snapdragon 8295 chip, NVIDIA Orin-X chip and a new car system, with hardware redundancy capability to support L3 level intelligent driving and advanced assisted driving capabilities. At the same time, the 2024 Zero Run new product lineup will also be launched, including models such as C01, C11, and T03. Facing the demanding new energy vehicle industry, Zero Run founder, chairman, and CEO Zhu Jiangming said, “‘Roll’ is a good thing. Only by ‘rolling’ can we achieve the competitive advantage of new energy vehicles and gain market share from fuel vehicles at the fastest speed.” According to founder Zhu Jiangming, Zero Run’s sales target for 2024 is 300,000-400,000 units. In terms of product planning, in addition to launching the first global strategic model C10, Zero Run will launch a new version of the C11 with a completely new architecture in 2024. At the Beijing Auto Show, the Zero Run C16 will also be launched, and 2025 will be a big year for Zero Run, with 5 models already planned. In addition, Zero Run also stated that starting from the 2024 Zero Run self-developed open day, Zero Run plans to release a “Technology Product Line” in January every year, bringing the latest technological achievements of self-development; and release a “Product Product Line” in March every year, bringing high-quality products after the technology achievements are put on the market. Nezha Auto February sales: 6085 vehicles The latest data shows that Nezha Auto delivered 6085 new vehicles in February, a decrease of about 40% compared to the same period. The cumulative sales from January to February 2024 reached 16,117 vehicles, and by the end of February this year, Nezha Auto had delivered nearly 400,000 new vehicles.
In terms of new car planning, NIO will release multiple new models in 2024, including the first SUV NIO L on the SHP platform and a brand new crossover model, as well as 6 global models. NIO L will be officially launched and delivered in April, equipped with NEDC’s long-life L-series batteries, which have the advantages of long life, support for ultra-fast charging, support for full-temperature flash charging, long range, and high safety. NIO L will be based on the SHP platform, providing two power options: pure electric and extended-range hybrid. The extended-range version is equipped with a 1.5-liter four-cylinder naturally aspirated range extender, with a maximum engine power of 67kW, and the pure electric version has a maximum motor power of 170kW. Due to lower-than-expected sales in 2023, NIO CEO Zhang Yong publicly reviewed and made major adjustments to the leadership team. He personally served as the president of the marketing company and stated that in 2024, the “marketing system will stand up as a whole and go back to work.” In addition, Zhang Yong wrote on social media: “Target for 24 is 300,000,” implying that NIO’s global sales target for 2024 is 300,000 units, with reports indicating a domestic sales target of 200,000 units and an overseas sales target of 100,000 units. In terms of overseas sales targets, NIO will continue to focus on overseas markets in 2024, accelerating the planning and establishment of factories in Indonesia, the Middle East, Europe, and the Americas this year, shifting to an innovative trade + localization manufacturing model to help achieve the overseas market sales targets for 2024-2026. In addition, in terms of distribution, NIO will also cover 60 countries and regions globally, distributing products and services from the NIO/SHP platforms, and expanding overseas sales service outlets to 300. Recently, NIO and 360 company also signed a strategic cooperation agreement to jointly release the large-scale product NETAGPT, applying advanced AI technologies such as 360 brain, search, and digital human in the cockpit and other areas. Xpeng Motors February sales: 4545 units Data shows that Xpeng Motors delivered 4545 new cars in January, a year-on-year decrease of 24.3%. Xpeng Motors delivered a total of 12,795 new cars from January to February this year.
In February, Xiaopeng X9 delivered 1448 units, and nearly 4,000 units were delivered in the first two months after its launch. Xiaopeng Motors stated, “With the ramp-up of production capacity after the Spring Festival and the resolution of individual supply chain bottlenecks, the production capacity of Xiaopeng X9 will be greatly increased starting in March, accelerating delivery.” According to official information, Xiaopeng X9 has been launched for delivery in over 100 cities nationwide, with the Max version accounting for nearly 70% of purchases. Xiaopeng is intensifying its efforts to increase the production capacity of Xiaopeng X9 and accelerate delivery of existing orders. On February 29, Xiaopeng Motors announced that it will immediately push the XNGP intelligent assisted driving function to users with rich experience in smart driving. It is understood that this function breaks the limitations of cities and routes, allowing users to enjoy its convenience wherever there is navigation coverage. As of now, Xiaopeng Motors has opened XNGP urban smart driving capabilities in 243 cities. He Xiaopeng stated that the safety of XNGP smart driving is 10 times higher than manual driving. Compared to the reliance on high-precision maps for urban opening, XNGP without maps does not require expensive and slow-updating high-precision maps, greatly improving the efficiency of urban opening by up to 384 times. At the beginning of 2024, Xiaopeng Motors also made a series of adjustments. Some media reports that Xiaopeng Motors has planned a large supply for the second half of the year, requiring suppliers to prepare production in line with monthly sales of 30,000 to 40,000 units. On February 29th, Xiaopeng Motors and Volkswagen Group made new progress in their cooperation, quickly and efficiently jointly developing two Volkswagen brand models specifically for the Chinese market. The first model is a medium-sized electric SUV, with the first two electric vehicles scheduled to be launched in 2026. According to Xiaopeng Motors’ 2024 plan, 3-4 new models will be launched this year, including the F57 sedan, a 150,000-level A-class car in cooperation with Didi, and a new SUV model. Xiaopeng Motors Chairman He Xiaopeng believes that 2024 is the first year of “bloody” competition for Chinese car brands, and intense competition is inevitable. In 2024, Xiaopeng Motors will continue to innovate and invest in the field of electric vehicles, and with the launch of new models and the progress of production line upgrades, Xiaopeng Motors is expected to achieve greater breakthroughs and achievements in the electric vehicle market. Lantu Automobile February sales: 3182 vehicles On March 1st, Lantu Automobile released the latest sales data, showing that 3182 new cars were delivered in February, an increase of 187% year-on-year; The cumulative delivery volume from January to February 2024 was 10223 vehicles, an increase of 285% year-on-year. Lantu stated that they are moving towards the goal of 100,000 vehicles.
Lantu Motors has maintained a growth trend since the second half of last year. In 2024, while continuing to improve products and services, Lantu has strengthened its open cooperation and signed strategic cooperation agreements with Huawei and JD.com. In terms of overseas markets, Lantu Motors is collaborating with the Iberian Peninsula automotive group Salvador Caetano to push the Lantu brand into the Southern European market, further accelerating its global layout. According to the plan, Lantu will also enter the markets of Germany, France, and Italy in 2024. Within the next 3-5 years, Lantu is expected to truly become a well-known brand. In 2024, Lantu Motors aims to sell 100,000 vehicles. In the second half of 2023, the entire product line will be upgraded, with the new Lantu FREE, new Lantu Dreamer, and Chasing Light PHEV successively launched, creating a label of “easy to drive, safe, intelligent, and energy-saving.” It is understood that Lantu Motors will launch a mid-size SUV in 2024 to capture more segmented markets with a stronger product lineup. At the same time, deepening channel construction, with channel coverage expected to exceed 400 cities. Therefore, the market performance in 2024 will also determine whether Lantu can transition from a “national team player” to a leading new energy brand. In summary: The Chinese New Year holiday in February has a significant impact on car consumption. The China Passenger Car Association predicts that in February, the domestic narrow-definition passenger car retail sales will be approximately 1.15 million units, a 43.5% decrease from the previous month, following the usual seasonal trend. The retail sales of new energy vehicles in China are expected to be 380,000 units, a 43% decrease from the previous month, with a penetration rate of approximately 33%. Looking at the February sales data released by new energy vehicle companies, the growth rate of sales for many companies has slowed down, and overall industry sales have declined significantly compared to the previous month. Industry insiders predict that the reshuffling of the automotive industry will intensify in 2024, and February sales will be at an absolute low point for the year.