According to the Futu Securities app, on August 1st, several new energy vehicle companies successively released their sales and delivery data for July. The new energy vehicle market remains strong, with many new energy vehicle companies achieving a year-on-year growth trend in sales or deliveries. Many brands have set new delivery records.

Specifically, BYD sold 0.3424 million new energy vehicles in July, compared to 0.2622 million in the same period last year. Therefore, BYD's new energy vehicle sales in July increased by 30.6% year-on-year; this year's cumulative sales of new energy vehicles were 1,955,366 units, an increase of 28.83% year-on-year.

Sokon Industry Group Stock sold 42,176 new energy vehicles in July, an increase of 508.25% year-on-year; from January to July 2024, cumulative sales reached 243,125 vehicles, an increase of 369.95% year-on-year. SAIC Motor Corporation sold more than 0.071 million new energy vehicles in July. From January to July, cumulative sales of new energy vehicles reached 0.532 million units, an increase of about 15% year-on-year.

In terms of new forces, Li Auto Inc. delivered 0.051 million new vehicles in July, setting a new monthly delivery record, an increase of 49.4% year-on-year; this year, a total of nearly 0.24 million vehicles were delivered. As of July 31 this year, Li Auto has delivered more than 0.8733 million new vehicles.

In addition, Leap Motor delivered approximately 0.0221 million vehicles in July, an increase of 54.1% year-on-year, setting a new monthly delivery record; NIO Inc. delivered approximately 0.0205 million new vehicles in July, an increase of 0.17% year-on-year, with deliveries exceeding 0.02 million vehicles for three consecutive months. From January to July this year, NIO delivered nearly 0.108 million new vehicles, an increase of 43.85% year-on-year.

XPeng delivered approximately 0.0111 million new cars in July, an increase of 1% year-on-year and an increase of 4% month-on-month. From January to July this year, XPeng delivered approximately 0.0632 million new vehicles, an increase of 20% year-on-year. Nezha Auto delivered more than 0.011 million vehicles in July for the entire series, compared to approximately 0.01 million vehicles delivered in the same period last year. In July, Xiaomi delivered more than 0.01 million Xiaomi SU7 cars, and is expected to complete the annual delivery target of 0.1 million cars ahead of schedule in November.

According to the China Passenger Car Association, in July, the domestic narrow passenger car retail market sold approximately 1.73 million vehicles. Among them, sales of plug-in hybrid models increased rapidly, providing strong support for the new energy market. In July, it is estimated that domestic new energy vehicle retail sales can reach 0.86 million units, which is basically the same as June, an increase of 34.1% year-on-year, and the penetration rate is expected to further increase to 49.7%.

According to analysts, the monthly market penetration rate of new energy vehicles is about to reach the milestone of 50% according to current trends, and August may be the momentous moment for this historical moment to occur.

In terms of policies, on July 25, the National Development and Reform Commission and the Ministry of Finance issued several measures to support large-scale equipment updates and replacement of consumer goods with new ones, which further increased the subsidy for updating key areas such as automobiles. For scrapping and updating qualified cars, the subsidy standards will be increased from the previous subsidy of 0.01 million yuan for the purchase of new energy passenger cars to 0.02 million yuan.

On August 1, the Ministry of Transportation and the Ministry of Finance issued the "Implementation Rules for Subsidies for New Energy City Buses and Power Battery Updates", which stipulates that a fixed subsidy will be given to urban public transport enterprises for updating new energy city buses and replacing power batteries. Encourage rational selection of new energy city bus vehicle length types based on changes in passenger flow and the development of the urban public transport industry. The average subsidy per vehicle is 0.06 million yuan. Among them, the subsidy per vehicle for updating the new energy city bus is 0.08 million yuan, and the subsidy per car for replacing the power battery is 0.042 million yuan.

CITIC Securities stated that the intensity of the new version of the policy on replacing the old with the new automobiles is far greater than the market expectations, and the stimulus to the automobile industry will be much better than the policy standard at the end of April. Among them, the policy on replacing old commercial vehicles with new ones was first introduced, which greatly exceeded market expectations. This round of 'replacing the old with the new' policy is expected to release demand from terminal holders waiting to buy commercial vehicles, passenger vehicles, motorcycles, power batteries and other sectors are expected to benefit substantially.

Shanxi Securities pointed out that the demand for new energy vehicles and power batteries is recovering, the automobile update policy is gradually being implemented, and new models of electric vehicles are being continuously introduced, which is expected to further stimulate the growth of the new energy vehicle market.

Related concept stocks:

BYD Company Limited (01211): BYD's new energy vehicle sales in July increased by 30.6% year-on-year; this year's cumulative sales of new energy vehicles were 1,955,366 units, an increase of 28.83% year-on-year.

In July, li auto inc delivered a new record high of 0.051 million vehicles, a year-on-year increase of 49.4% in monthly deliveries; a total of nearly 0.24 million vehicles were delivered from January to July this year. As of July 31 this year, li auto inc has delivered more than 0.8733 million new vehicles.

In July, Nio Inc delivered approximately 0.0205 million new vehicles, a year-on-year increase of 0.17%, with monthly deliveries exceeding 0.02 million vehicles for three consecutive months. From January to July this year, Nio Inc delivered nearly 0.108 million new vehicles, a year-on-year increase of 43.85%.

In July, Xiaomi Corporation delivered more than 0.01 million SU7 vehicles, and is expected to achieve the annual delivery target of 0.1 million vehicles ahead of schedule in November.