In China, the discovery of car companies in the field of new energy vehicles is inseparable from government subsidies. Subsidy standards will be degraded, and the performance of car companies will be affected, even BYD, which is more successful in the domestic new energy vehicle sector. Let's take a look at the related content with the car electronics editor.
New energy vehicle subsidies reduce the pressure on business operations
This year, the domestic new energy vehicle market was once bleak. The new energy vehicles in the policy window period fell to the bottom in January this year. The sales volume of new energy passenger vehicles was 0.54 million, a sharp drop of 61% year-on-year. BYD was in this year. Monthly sales also plummeted to 605 units. Later, with the implementation of the subsidy policy for new energy vehicles and the promotion of the catalogue, the sales of new energy vehicles rebounded month by month. However, the decline in subsidies still affects the growth rate. Since 2014, the annual sales volume of domestic new energy vehicles has doubled. Since 2016, the growth rate has slowed down markedly. Last year, the sales volume of new energy vehicles was 507,000 units, a year-on-year increase of 53%. In the first half of this year, the sales of new energy vehicles reached 195,000, a year-on-year increase of 14.4%. The proportion of the Chinese auto market did not rise, and fell from the 1.8% market share last year to 1.5%.
It is not easy to make money through electric vehicles. The traditional car giants such as Toyota, Volkswagen and General Motors have earned a lot of money. However, it is difficult for some companies to make money from the electric vehicle field. This is one of the important reasons why the multinational auto giants are generally waiting in China and have not made a domestic electric vehicle (EV) in China. Even the most powerful Tes La, has not achieved annual profit.
Some joint venture brands that have already placed plug-in hybrid vehicles in the market generally report that they are selling more and more losses due to high cost and low sales volume. Compared with the joint venture brand, the independent brand has taken a step forward in the field of new energy vehicles with the help of subsidies and other policies. In the first half of this year, the top ten domestic new energy vehicle sales were all overwhelmed by independent brands, and BYD continued to hold the throne of sales champions.
New energy vehicle subsidies reduce the pressure on business operations
BYD has been the world's new energy vehicle sales champion for two consecutive years from 2015 to 2016. Although it has not disclosed the profitability of the new energy vehicle sector separately, BYD is considered to be the biggest profiter of domestic new energy vehicle subsidies. BYD is considered to be A car company with better profitability in the field of new energy vehicles. Han Weiqi, a researcher at Qunyi Securities (Hong Kong) Co., Ltd., pointed out in his analysis report in 2015 that the gross profit rate of BYD's new energy vehicles is basically above 20%, the period cost is 12%~15%, and the net profit margin is about 5%~10%. In 2014, BYD's new energy vehicles have achieved profitability. After 2015, battery capacity has increased significantly, making its performance exceed current expectations.
From 2015 to 2016, with the rapid growth of sales of new energy vehicles, BYD's net profit attributable to shareholders of listed companies surged. In 2015 and 2016, BYD's net profit attributable to shareholders of listed companies was 2.82 billion yuan and 5.05 billion yuan, respectively, with growth rates of 551.3% and 78.9%, respectively.
Qiu Junjun, a new energy vehicle expert, said in an interview with the media recently that in addition to BYD, the new energy vehicles such as BAIC and Chery have a certain scale of brand and should be profitable on the books. However, since the beginning of this year, the new energy subsidies have fallen sharply, which has created certain operational pressure on new energy vehicles.
New energy vehicle subsidies reduce the pressure on business operations
This year's new subsidy standard for the passenger car subsided 20% in accordance with the 2016 subsidy standard. The subsidy standard for passenger cars generally fell 40% in the 2016 standard, and the fast-charged pure electric bus even reduced 60%. . At the same time, the way in which subsidies were allocated was changed from the original initial allocation to the year-end liquidation. In addition, the cumulative mileage of new energy vehicles purchased by non-private users exceeds 30,000 kilometers to receive state subsidies. In addition, the local financial bicycle subsidy ceiling is stipulated, which does not exceed 50% of the central government bicycle subsidy, which was 1:1.
In the first half of this year, BYD was affected by the adjustment of this new energy policy. The sales volume and net profit of new energy vehicles all declined. Among them, BYD's net profit attributable to shareholders of listed companies was 1.72 billion yuan, down 23.8% year-on-year.
Insiders of BYD said that after the national new energy vehicle subsidy fell, the plug-in hybrid vehicle country will pay 24,000 yuan. According to the new standard this year, the place is 12,000 yuan. For various reasons, many local governments have no subsidy of 12,000 yuan for new energy vehicle brands in the field. However, considering the price of new energy vehicles as uniform as possible, BYD decided to make this number. Make up for the consumer.
New energy vehicle subsidies reduce the pressure on business operations
It is reported that this year, new energy automakers have transferred the pressure of the new energy subsidies to the power battery suppliers. Different from other car companies, BYD's power battery is self-sufficient, and the pressure to subsidize the subsidy of new energy vehicles can only be digested internally.
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