In March 2022, nearly 20 new energy vehicle enterprises announced that the price of their models increased by 1000-30000 yuan From International Finance
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Since 2022, affected by the soaring price of raw materials and other factors, the new energy vehicle industry has ushered in a wave of price rise boom. The reporter of the international finance news found that in the past March, nearly 20 new energy vehicle enterprises have announced the price rise of their models. Specifically, in early March, gac-e’an, Tesla, BYD, Chery new energy, Nezha and other new energy vehicles successively issued price increases. This round of price increases covered a wide range, including not only new forces in car manufacturing, but also old car enterprises, Chinese independent brands, joint ventures and imported brands.
According to the reporter’s statistics, up to now, this round of price adjustment involves nearly 40 models, with an increase of 1000-30000 yuan.
Tesla rose a lot
Among them, gac-e’an took the lead in opening this round of price adjustment.
On March 4, gac-e’an announced that due to the sharp rise in the price of raw materials and the decline of new energy vehicle purchase subsidies, the official guidance prices of its aion y, aion s plus, aion V Plus and other relevant models will be adjusted, which will take effect on the same day. This round of adjustment will increase the price by 4000-10000 yuan, and the customers who have signed the contract will not be affected.
Six days later, Tesla kept up with the pace of price adjustment. It announced the price increase on March 10. Then, within less than a week, Tesla increased the price twice. The two price increases of some model y models amounted to 30000 yuan, while the price increases of some model 3 models also amounted to 28000 yuan.
On the same day that Tesla announced its second price increase, BYD also announced the price increase. The price of 17 models was adjusted, and the price increase ranged from 3000-6000 yuan.
Subsequently, on March 18, four auto companies announced price increases, including Nezha automobile, Xiaopeng automobile, Zero run automobile and Geely’s geometric automobile, with price increases ranging from 3000-30000 yuan.
Among them, the increase of C11 under Zero run automobile reached 30000 yuan, which not only led the rise of the above four companies, but also the largest increase among all the price increase models known at present.
Weima automobile and Euler automobile announced the price increase information on March 19, and the price increase of Weima Ex5 under Weima also reached 26000 yuan. The black cat under Euler announced to stop receiving orders on February 23 due to lack of core and power. This price increase is aimed at the price adjustment of the whole series of Euler good cat (including GT version).
With the price adjustment announcement of ideal car on March 23, only Weilai car remained in the “weixiaoli” and did not announce the price adjustment information. The market was also curious about whether it could carry it to the end.
On March 21, Qin Lihong, co-founder and President of Weilai automobile, said that “Weilai does not raise the price, at least not yet”. Ideal one under ideal is its main brand. This price adjustment is only for this model, and the adjusted price is 10000 yuan.
BYD and Wuling fight “blitz”
Lantu announced the price increase on March 24 and announced the specific price increase details seven days later. This time, lantu adjusted the selling prices of its lantu free pure electric version, pure electric city version and pure electric version + exclusive luxury suit, all rising by 10000 yuan.
The rise in the price of new energy vehicles has also brought tension and anxiety to consumers who want to start new energy vehicles. Some netizens wrote that “saving money without skills depends on buying early”.
Many auto companies, including Tesla, BYD, Nezha, geometry, etc., took less than 24 hours from the announcement to the entry into force. Wuling Automobile did not give the market time to consider. It issued a price increase announcement on the evening of March 23, which officially took effect at 0:00 on March 24. Similarly, BYD began to implement the new price after leaving only ten minutes for the market to breathe.
Some users complained to the reporter of the international finance news, “with the rise of oil prices, new energy vehicles are being considered recently, and the price has suddenly increased before it is determined.”
In contrast, the “delayed price adjustment” of lantu automobile and SAIC Roewe has been highly praised by many car buyers.
On March 31, the two car companies announced the details of the price increase at the same time, which will take effect on May 1, giving consumers a month’s action time.
(drawing: Wu Di)
Throughout the collective price increase of new energy vehicles, the reasons all point to the sharp rise in the price of raw materials. When the price of vehicle enterprises is not adjusted, the loss of some vehicle enterprises in producing a new energy vehicle even reaches 10000 yuan. Ideal car CEO Li Xiang said on his microblog on March 19, “the rise in battery costs in the second quarter was very outrageous.”
In 2021, the average monthly increase of battery grade lithium carbonate was about 22000 yuan / ton. In December, the fastest increase reached 71000 yuan / ton, while the average price of battery grade lithium carbonate at the beginning of 2021 was only 50000 yuan / ton. Up to now, the price of lithium carbonate has exceeded 500000 yuan / ton, with an increase of 87% this year; Nickel price rose from less than 150000 yuan / ton at the end of last year to 300000 yuan / ton in March this year; The price of cobalt has also risen from less than 300000 yuan / ton at the beginning of 2021 to about 500000 yuan / ton now.
At the same time, the prices of diaphragm, anode and cathode materials, electrolyte and other battery related raw materials used in power batteries have increased by different ranges, and the increase range is basically more than 100%. For example, the cathode material is the main component of lithium-ion battery, which determines the energy density of the battery. At the same time, it also accounts for most of the cost of power battery. The price has doubled, which also brings greater cost pressure to power battery manufacturers.
Price rise and sales increase
At the same time that car companies have raised prices, there is a “strange” phenomenon.
Instead of “dampening” consumers’ enthusiasm for buying cars, the price rise of new energy vehicles has appeared a phenomenon of “rush ordering” in the terminal market. The delivery time of new car orders of many car enterprises has been scheduled to be three or four months later.
From the car companies that have released the sales data in March, Xiaopeng, a new force in car manufacturing, sold 15414 cars in March, with a year-on-year increase of 202.12% and a month on month increase of 147.6%; Nezha sold 12026 cars, up 270.49% year-on-year and 69% month on month.
This phenomenon not only appeared in the new forces of car making, but the day after BYD, an old car company, announced the price increase, it harvested nearly 30000 orders across the country. On March 30, BYD said that at present, the cumulative number of undelivered orders of the company has reached 400000 and is still increasing month by month. BYD’s Han EV and Han DM series increased by 5000 yuan. In mid March, the sales volume of Han EV exceeded 10000, and the sales volume of Han DM increased by 524.9% month on month. At the same time, the sales volume of BYD’s whole series reached 104338, becoming the largest known sales volume of new energy at present.
A relevant auto salesperson told reporters that after Tesla’s two consecutive rises, many consumers were worried that the price of new energy vehicles would continue to grow, so they placed orders first and locked the price before the growth.
The rise in raw material prices has also aroused great concern in the industry.
At the beginning of this year, the Federation of riders predicted that the cumulative sales volume of domestic new energy vehicles in 2022 is expected to exceed 6 million. Although the current rise in the price of new energy vehicles will inhibit the sales volume of new energy vehicles to a certain extent, the problem of raw materials in the future cannot be solved in the short term. Cui Dongshu, Secretary General of the Federation of riders, suggested that auto enterprises can reduce costs by improving product technical indicators and increasing the scale and sales volume of bicycles, Improve the structure of battery suppliers and other aspects to deal with the rising cost.
At the China electric vehicle hundred people’s meeting on March 25, many representatives of automobile enterprises also raised the issue of raw materials. Dong Yang, vice president of China electric vehicle hundred people’s meeting, suggested that the upstream and downstream of the industrial chain should work together to share the cost increase caused by the rise in the price of raw materials.
Read more from the Securities Times: ride Association: ranking list of new energy car sales in January 2022 Europe billion: new forces of car building in February 2022 are difficult to break the pass line of “10000 vehicles”: geek Park: weixiaoli in 2021 The sales volume exceeded 90000, with a year-on-year growth rate of more than double. In 2022, the inventory of new energy production and sales data of Q1 auto enterprises did not change the high growth trend of new energy vehicles. China Consumer Association: about 40000 complaints about cars and auto parts were accepted in 2021, accounting for 3.98% of the total complaints. Zhitong finance and Economics: US electric vehicle stocks collectively corrected, Tesla’s share price rose nearly 10% against the trend. Auto blogger: in January 2022, the global sales volume of new energy vehicles reached 603000 units, and Tesla Model y ranked first Credit Suisse: Tesla’s delivery volume in Q1 is expected to reach a new high in 2022, with a year-on-year increase of 120000. The passenger Association: Tesla China’s sales volume in April was 25845, down 27% month on month. Tesla: 4q20 earnings conference call record musk said Tesla is currently the leader of China’s electric vehicle market. Tesla: 4q20 revenue was US $10.744 billion, up 46% year-on-year, exceeding the expectation. In October 2020, the sales volume of new energy vehicles increased by 119.8% year-on-year, and the sales volume of four auto companies such as Tesla More than 10000 passenger cars Association: in May, Tesla’s new energy sales ranked first. Weilai and other new forces became important forces in the new energy vehicle market. Passenger cars Association: in April 2021, China’s retail sales of new energy passenger cars reached 163000, with a year-on-year increase of 192.8%. China Automobile Association: Tesla’s localization has a great impact on Chinese brand cars
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