[SMM Analysis] there is no lack of bright spots in the new energy vehicle market in the first half of the year.

SMM7 March 29: due to the global spread of the novel coronavirus epidemic in the first half of 2020, the already "depressed" automobile industry has been hit hard again, and the sales of new energy vehicles are no exception. According to data from the China Automobile Association, the production and sales of new energy vehicles completed 397000 and 393000 respectively from January to June, down 36.5% and 37.4% respectively from the same period last year.

In terms of car brands, sales of four models in the top 10 brands fell compared with the same period last year. For example, BAIC's EU series sold 11383 vehicles in the first half of 2020, down 76.8% from the same period last year; Chery eQ fell 56.1% from the same period last year. But there is also no shortage of high-performing models, such as Tesla Model3, which has an absolute advantage, twice as much as the new Qin EV, which came in second place. ES6, on the other hand, performed strongly in the first half of the year, with sales up 2735.6% year on year.

Tesla Model 3 sales are better this year, its brand effect and product price reduction has attracted domestic C-end customers, ranking first in the first half of the year. The localization of Model 3 will continue to be strengthened in the second half of the year, and the iron-lithium version of Model 3 will be launched. In addition, many car companies will launch new models in the second half of the year, such as the Lai EC6, BYD "Han", Aion V, and so on, with improved performance in all aspects, such as mileage and safety, which is expected to boost sales of new energy vehicles throughout the year.

Superimposed countries and various localities continue to put forward policies to stimulate the development of new energy vehicles, such as Chongqing extending the vehicle purchase tax exemption policy for new energy vehicles until the end of 2022, Guangzhou encouraging foreign investment in the field of new energy vehicles, multinational corporations with a maximum reward of 100 million yuan, and so on. The development of new energy vehicles will be good in the future.

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