Mid-year University “Bake”: The Geometry of Autonomous and Joint-venture Sales Targets?

In July, the auto market finally ushered in the long-awaited mid-year “bake”. Combining sales data released by the official car companies of the major auto makers and the CCC, Gasgoo sorted out the sales targets of major auto makers in the first half of 2017. As a whole, regardless of the joint venture brand or its own brand, only a few companies in the first half of the year have achieved a better sales target. Most of them have to complete the sales target set at the beginning of the year and there is still some pressure in the second half of the year.

Specifically, the self-owned brand camps achieved the best results with Geely Automobile and GAC Passenger Vehicles, both exceeding half of the annual sales target. Among them, even after the semi-annual sales results were announced, Geely announced that it would increase its 2017 annual sales target to 1.1 million units, which is full of confidence in the market. Although sales of SAIC Passenger Cars surged 113% in the first half of the year, they only completed 38.9% of the annual sales target. The performance of JAC passenger vehicles and Zhongtai was not satisfactory. In the first half of the year, sales were both less than 30% of the annual target, and people had to wonder if they could successfully accomplish this year's target.

The joint venture brand camp has the best performance of GAC Mitsubishi, although its overall sales volume is not high. Followed by FAW Toyota and GAC Toyota, both completed 50% of the annual sales target. Although Dongfeng Honda has not reached half of its annual sales target, the 48.2% completion rate still allows East Ben to make a decision to raise its annual target. Contrary to Dongben’s positive attitude toward the market in the second half of the year, Beijing Hyundai was not satisfied with its sales in the first half of the year – it only completed 24.1% of the target, or chose to cut its annual sales target. In addition, Changan Peugeot Citroen has only set a target of 20,000 vehicles this year, and the completion rate in the first half of the year is less than 20%. The following is the completion of the specific sales target:

Autonomy: SAIC Passenger Vehicles Leading Geely to Complete the Best

Judging from the above-mentioned form, the "autonomous top three" is best accomplished with Geely. In the first half of the year, Geely sold a total of 530,627 vehicles in the continued sales of new models such as New Dihao, New Vision, and Bo Yue, which rose 89% year-on-year, in terms of the 1 million sales target set at the beginning of the year. , completed 53%, of which only the new Di Hao and Bo Yue two models, it contributed to nearly half of the sales. Chang'an Automobile followed closely with a score of 870,076 to achieve a target completion rate of 48.6%, which is still ideal. In contrast, Great Wall Motor's performance is a bit worrying. According to the official data of Great Wall Motor, the Great Wall sold 460,743 vehicles in the first half of 2017 and completed only 36.9% of the 1.25 million sales target. Compared with the same period of last year, sales growth was only 2.33%. According to this performance, it is not easy for Great Wall Motor to successfully complete its annual sales target.

The other two "autonomous people" GAC passenger vehicles and SAIC passenger vehicles, the former to 250,878 sales performance, successfully completed 50.2% of the annual target. Among them, Guangqi Chuanqi GS8, GS4, GA6, GA8 and other star models contributed to the outstanding performance of their respective market segments, which ultimately prompted GAC passenger car sales rose 57.02% year-on-year. SAIC Passenger Vehicle, although the target completion rate was less than 40% in the first half of the year, but compared with the growth rate of 112.99% in the same period last year, it fully demonstrated that it will be a “potential stock” in the second half of the year, especially for traditional fuel vehicles and new energy sources. At the same time as the sale of cars, Roewe RX5, Roewe i6, MG ZS and other models to force together, people can not help but to SAIC passenger cars in the second half of the performance added a bit of expectations.

As for other independent brands, Chery Automobile sold 315,172 vehicles in the first half of the year and completed 35.0% of the annual target of 900,000. If it follows the 11.2% growth rate in the first half of the year, it will be difficult to successfully complete the target. Dongfeng Qichen, one of the youngest independent brands in China's auto market, has moved towards independence since February and has sold 62,344 vehicles in the first half of the year. Although it has achieved nearly 10% growth compared to the same period of last year, it is still far from the annual target. Far away.

The target completion rates of Jianghuai Passenger Vehicles and Zhongtai Automobile were all less than 30% in the first half of the year. Analysis of the reasons for the decline in sales of SUVs in the first half of the year was the main reason. According to relevant statistics, in the first half of 2017, Jianghuai SUV models sold 67,164 vehicles, a year-on-year decline of 53.29%. This was also true of Zotye, which saw a sharp drop of 36.6% in the sales of SUVs in the previous June. This is a pair of “hard-core brothers”.

Joint venture: Better completion of half of the North

In terms of joint venture brands, most of the mainstream car makers have achieved a sales rate of over 40%, of which the best case is Guangzhou Automobile Mitsubishi. In the first half of the year, Guangzhou Automobile Mitsubishi Motors sold 54,216 vehicles, which was 54.2% more than the sales target of 100,000 vehicles in the whole year. In addition to the good sales completion rate, the growth of GAC Mitsubishi in the first half of the year was also very impressive - a positive growth of 182% year-on-year, making it the largest car maker in the first half of the year. In-depth analysis, in the first half of the significant increase in sales of Guangzhou Automobile Mitsubishi, Outlander and Jin Hyun ASX two models contributed, in particular, Outlander, since the domestic listing last year, led the overall sales of GAC Mitsubishi sustained rapid growth.

Following GAC Mitsubishi is FAW Toyota and GAC Toyota. As Toyota's two joint venture brands in China, sales in the first half of the year reached 344,144 vehicles and 219,456 vehicles, respectively, and they successfully completed 50% of the annual sales target. The other two brands, Honda Motors in China, Dongfeng Honda and Guangzhou Automobile Honda, also had brighter sales in the first half of the year. They completed 48.2% and 47.2% of their annual targets respectively. Among them, Dongfeng Honda also announced that its annual target will be raised to 68% after the "midterm exam", which fully demonstrates its confidence in the second half of the year.

Contrary to the good performance of several car companies above, Changan Ford, Changan Suzuki, Changan Mazda and Changan Peugeot Citroen, which are Changan Suzuki’s joint venture brands, did not perform satisfactorily. Not only did their sales decline in the first half of the year, but also the annual sales target completion rate. Also less than 40%. Among them, the sales of Changan Peugeot Citroen in the first half of the year were only 3,133 units, a sharp drop of 64% year-on-year, compared with the annual target of 20,000 vehicles, only 15.7% were completed, and people had to worry about their subsequent development in China.

Equally worrying is Beijing Hyundai. As a representative of the Korean cars in China, Beijing Hyundai sold only 301,277 vehicles in the first six months, a sharp drop of 42.4% year-on-year. Compared to the 1.25 million sales target previously set, only 24.1% was completed. This is not accidental, because another Korean car brand Dongfeng Kia Yueda sales in China is also not optimistic. According to relevant statistics, in the previous June, Dongda KIA Yueda Automobile sold a total of 121,700 vehicles in China, a sharp drop of 55% compared with 285,600 in the same period of last year, and the completion rate was less than 200% from the annual sales target of 700,000 vehicles. %, bleakness is really embarrassing.

Also worth mentioning is that SAIC-Volkswagen and SAIC-GM, which have not yet been notified of their 2017 sales targets, did not appear in the above-mentioned list, but this in no way concealed their outstanding performance in the first half of the year. According to data released by the SAIC official, in the first half of 2017, SAIC-VW and SAIC General Motors respectively sold 970,022 vehicles and 8,67,393 vehicles, of which SAIC-Volkswagen sales were basically the same as the same period of last year, and SAIC General Motors slightly increased by 3.97%. According to this trend, the two major car companies are expected to continue their good market performance last year.