In August 2022, the number of car purchase intentions of new energy vehicle users increased by 1.3% month-on-month, a month-on-month increase of 7.9% compared with the previous month. After the market popularity experienced a decline, it began to gradually recover. Let’s take a look at the interpretation of the auto market in August.
1. Overall trend: the popularity of new energy vehicle users is heating up, and the popularity of pure electric vehicles is cooling down
First, let’s take a look at the overall trend of new energy vehicles. In August 2022, the number of car purchase intentions of new energy vehicle users increased by 1.3% month-on-month, a month-on-month increase of 7.9% compared with the previous month. After the market popularity experienced a decline, it began to gradually recover.
In August of this year, the purchase intention of pure electric vehicle users accounted for 69.4%, a slight decrease of 0.9% compared with the previous month, and the proportion of car purchase intention continued to decline; the purchase intention of plug-in hybrid models accounted for 26.8%, Compared with the previous month, it fell slightly by 0.7%, and the proportion of car purchase intentions began to decline after a continuous increase; the proportion of users’ intentions for extended-range models was only 3.7%.
2. Trends by model level: the proportion of sedan users increased, and the proportion of SUV intentions decreased
In August, car purchase intentions of sedan, SUV, and MPV users among new energy vehicles accounted for 55.7%, 42.3%, and 2.0%, respectively. The proportion of car users’ intentions increased by 1.3% compared with the previous month, and the share began to turn from decline to increase. The proportion of SUV user intentions began to decline, down 1.8% from the previous month. The proportion of MPV user intentions increased by 0.5% month-on-month in August, and the proportion of intentions is still low.
3. Trends by region: non-restricted cities are the main market players, and users in developed eastern and southern regions are more active
In August this year, the five provinces with the highest proportion of car purchase intentions included Guangdong, Zhejiang, Jiangsu, Shandong, and Henan. Guangdong ranked first with 13.1% of the intentions. The share of the top 10 provinces with car purchase intentions accumulated to 68.0%, which remained stable compared with the previous month, and the market remained stable. In all provinces, the proportion of user intentions increased in 10 provinces, while the proportion of intentions in 12 provinces declined. Among them, Beijing, Hunan, and Guangxi increased the proportion of user intentions by 0.5%, 0.2%, and 0.2% respectively compared with the previous month. %, the three provinces with the highest increase in the proportion of intentions; Hainan, Jilin, and Chongqing, the proportion of user intentions decreased by 0.3%, 0.3%, and 0.2%, respectively, the three provinces with the largest decline.
After understanding the provincial distribution of users’ car purchase intentions, let’s take a look at the urban pattern. In August this year, user intentions in non-restricted cities accounted for 72.4%, still the main force in the market. The five cities with the highest proportion of car purchase intentions include Beijing, Shanghai, Shenzhen, Hangzhou, and Guangzhou, with Beijing topping the list with a proportion of 5.2%. The proportion of user intentions in the top 10 cities has reached 34.4%, a decrease of 0.4% compared with the previous month, and the market city concentration has decreased. Among all cities, the proportion of user intentions increased in 21 cities, while the proportion of intentions in 38 cities declined. Among them, Beijing, Kunming, and Wuxi increased the proportion of user intentions by 0.5%, 0.2%, and 0.2% respectively compared with the previous month. %, which are the three cities with the highest increase in the proportion of user intentions; Changchun, Haikou, and Shanghai are the three cities with the largest decline in the proportion of user intentions, which decreased by 0.3%, 0.3%, and 0.2%, respectively.
4. Trends in price-specific areas: car purchases in low-priced areas have cooled, while car purchases in mid-to-high-priced areas have heated up
Price is one of the most important factors for users to consider when buying a car, so let’s find out what the user’s intention for different price models is! In August this year, 26.0% of users in the price area below 120,000 had the intention to purchase a car, down 0.4% from the previous month; 37.0% of the users in the 120,000-200,000 price area had the intention to purchase a car, which remained stable compared to the previous month; 20 -User intent in the price area of 300,000 accounted for 20.8%, up 0.5% from the previous month; user intent in the price area of 300,000-500,000 accounted for 11.9%, down 0.1% from the previous month; user intent in the price area above 500,000 accounted for The ratio was 4.2%, up 0.1% from the previous month.
By analyzing the user intention data of the past 12 months, it is found that from September 2021 to August this year, the proportion of user intentions in the price area below 120,000 decreased by 17.4%, and the low-priced market has shrunk; Compared with the previous year, it has increased by 11%, and the market popularity has maintained a substantial increase; the proportion of user intentions in the price area above 200,000 has increased by 6.4%, of which the share of the 200,000-300,000 price area has increased significantly, and the proportion of clues in the past 12 months has increased by 4.6%. In the future, with the more comprehensive layout of new energy vehicles, the market will be further subdivided, and the price range coverage will be more uniform.
5. Trends by manufacturers: The pattern of leading manufacturers is stable, and Chinese brands are still dominant
In the increasingly fierce market competition, the competition for users among various car companies is also intensifying. Looking at the market in August, the proportion of TOP 10 manufacturers’ car purchase intentions accounted for 63.3%, an increase of 0.8% compared with the previous month, and the market concentration has further improved. Among the ten manufacturers, 5 manufacturers achieved an increase in the proportion of user intentions. The manufacturer with the largest share increase was Great Wall Motors, which led the TOP 10 manufacturers with an increase of 2.5%; the manufacturer with the largest decrease was BYD, with a decrease rate of 4.5%. BYD and Great Wall Motor are still the two most favored manufacturers by users, with user intentions accounting for 23.8% and 7.1% respectively, and their top positions in the market are solid.