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Labour Day holidayCryptogameaxieThe market of new energy vehicles is booming.

First of all, there is a "price war". According to the latest news, BYD (002594) officially announced that it has launched a preferential car purchase policy for its dynastic models, with subsidies for bicycle replacement up to 18000 yuan, including state subsidies up to 10000 yuan and BYD subsidies up to 8000 yuan.

Secondly, the latest sales released by major car companies during the May Day holiday exceeded expectations. Among them, BYD sold more than 310000 vehicles in April, an increase of 49% over the same period last year, while Lulai delivered 15620 vehicles in April, a sharp increase of 13.4% over the same period last year.Cryptogameaxie.6%; Hongmeng Zhihang delivered about 2% in April.CryptogameaxieXiaopeng delivered 9393 cars in April, an increase of 33 percent over the same period last year.

A series of good news has begun to be reflected at the market level. On May 2 and 3, the new energy automobile stocks of Hong Kong stocks soared, of which the share price of Xilai soared 20%, Xiaopeng Motor rose more than 13%, BYD shares rose more than 5%, and ideal Automobile rose more than 3%.

Looking forward to the automobile market in May, analysts pointed out that due to favorable policies and preferential incentives for car companies, the vitality of the automobile market will gradually increase in May, and the demand for cars purchased with money due to the wait-and-see policy will be gradually released. Most likely, it will bring a certain increment to new energy vehicle companies, and new energy vehicles will further accelerate their penetration.

BYD official Xuan

During the May Day holiday, the car market "price war" suddenly began.

On the evening of May 3, BYD officially announced that it had launched a preferential car purchase policy for all its Chao.com models, with subsidies for bicycle replacement up to 18000 yuan, including state subsidies up to 10000 yuan and BYD subsidies up to 8000 yuan.

At the same time, the BYD dynasty also launched the corresponding financial policy.Cryptogameaxie: minimum 0 down payment, 12-60 arbitrary loan period; 40% down payment with 0 interest for 24 periods; 50% down payment with 0 interest for 1 year. At the same time, users can choose one of three financial options: 0 down payment, 0 interest and 0 month payment.

It is worth noting that the bicycle subsidy is as high as 8000 yuan, which is the second "price cut" for the dynasty series by BYD since 2024. After the start of construction during the Spring Festival holiday in February this year, BYD first announced the launch of the 79800 yuan honor version of Qin Plus, followed by Song, Tang, Han, Destroyer 05, Dolphin, Seagull and other models, triggering a price war in the new energy car market.

The background of BYD's latest subsidy policy is that the Ministry of Commerce, the Ministry of Finance and other seven ministries jointly issued the "detailed rules for the implementation of Automobile Trade-in subsidies," which made it clear that users who scrap fuel or new energy passenger cars and buy new energy passenger cars will be given an one-time replacement subsidy of 10,000 yuan.

Citic Construction Investment believes that BYD will be one of the beneficiaries of the trade-in policy, and its products are in line with the preference direction of incremental demand driven by the policy, which is expected to bring 24.5% sales flexibility.

After the landing of the policy, other car companies have also announced price cuts. Among them, Changan Automobile (000625) officially announced that it will launch an exclusive discount of "trade-in", with a comprehensive subsidy of up to 57000 yuan. Brands participating in the preferential policy include Changan Qiyuan, Avita, Deep Blue Automobile, Changan Automobile and so on.

SAIC GM Buick also launched high subsidies from May 1 to May 31, covering GL8 ES Luzun, GL8 onshore business class, Onkway PLUS, the new generation of Ankowei S, the new Regal, Weilang Pro and Buick E5 models, with comprehensive discounts of up to 65000 yuan.

It's a blockbuster.

During the May Day holiday, the "transcripts" issued by major car companies exceeded market expectations.

According to the latest sales figures released by BYD's official WeChat on May 4, the BYD Qin family sold 51170 vehicles in April, an increase of 26.13% from the previous month, with cumulative sales exceeding 1.47 million.

Song Pro DM-i Glory Edition sold 32037 vehicles in April, with cumulative sales exceeding 290000, while Song PLUS Glory Edition sold 43738 vehicles in April, refreshing the SUV value benchmark of independent new energy.

The BYD Hantang family sold 35685 vehicles in April, with a cumulative sales of more than 1.34 million. Among them, the Han family sold 21509 vehicles in April, up 50.1 per cent from a year earlier.

In addition, the new pure electric species "Dolphin" sold 10067 vehicles in April and has sold more than 660000 since its launch. Dolphin Glory Edition officially launched the promotion of "0 down payment + car purchase and whole car insurance" in May.

Overall, BYD sold more than 310000 vehicles in April, up 49% from a year earlier, and sold more than 930000 vehicles in the first four months of this year.

At the same time, other new energy car companies also recorded strong sales growth in April. Specifically:

Hongmeng Zhihang delivered about 29600 vehicles in April, M9 delivered nearly 13400 vehicles, and Zhijie S7 delivered 4546 vehicles in the same period.

Lulai delivered 15620 vehicles in April, a sharp increase of 134.6% over the same period last year. From January to April, a total of 45673 vehicles were delivered, an increase of 21.2% over the same period last year.

Xiaopeng delivered 9393 cars in April, an increase of 33% over the same period last year. From January to April, a total of 31214 vehicles were delivered, an increase of 23% over the same period last year.

Ideal cars were delivered in April, an increase of 0.4% over the same period last year. vehicles were delivered from January to April

16089 polar krypton cars were delivered in April, an increase of 99% over the same period last year and 24% month-on-month, setting another record high.

Xiaomi completed delivery of 7058 cars in April, and as of 24:00 on April 30th, Xiaomi SU7 had locked up 88063 units.

During the May Day holiday, the hot degree of the car market is still on the rise.

According to the latest poster released by Hongmeng Zhihang, three days before the May Day holiday, Hongmeng Zhihang had more than 6600 models in its entire range, with an average of 2200 per day, far surpassing other new energy car companies of the same class in China.

May 4 news, the new ideal L6 on the market for 16 days, the cumulative order exceeded 30,000 units, the ideal aspect revealed that during the May Day delivery center normal delivery, the factory will also pay close attention to production capacity climbing.

Analysts pointed out that the May Day holiday due to favorable policies and preferential promotion of car companies, the gradual improvement of the vitality of the car market, new energy vehicles are accelerating infiltration, most likely will bring a certain increment to car companies.

Collective soaring

Hot sales and favorable policies have begun to be reflected at the market level. On May 2 and 3, the new energy automobile stocks of Hong Kong stocks soared, of which the share price of Xilai soared 20%, Xiaopeng Motor rose more than 13%, BYD shares rose more than 5%, and ideal Automobile rose more than 3%.

For the outlook of the automobile market in May, Oriental Securities (600958) pointed out that with the formal introduction of the "detailed rules for the implementation of subsidies for clunkers", it is expected that the demand for cars purchased with money due to the wait-and-see policy will be gradually released. Follow-up passenger car market demand is expected to gradually pick up, low-end passenger car demand is expected to take the lead in recovery.

东方证券进一步表示，在激烈的价格竞争下，头部新能源车企将有望凭借在新能源技术和产业链上的领先优势持续扩大市场份额，在新能源车方面具有较强竞争力的整车及零部件公司值得关注。

全国乘联会秘书长崔东树也表示，《汽车以旧换新补贴实施细则》落地被视为对车市的重大利好，预计今年5月份的车市零售业绩将明显优于4月。

崔东树预计，报废总量应能达到近千万的规模，汽车以旧换新补贴对车市私人新车消费会带来百万量级的增量，也能带来千亿以上的年消费增量，5月车市必然会实现较好增长。

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