With the end of the first half of 2024, major domestic listed car companies have announced their financial report cards, of which net profit and bicycle profit data have become the focus of market attention.
In terms of net profit, BYD continued to lead the way with a proud achievement of 13.631 billion yuan, an increase of 24.44%, followed by Geely Automobile, net profit reached 10.598 billion yuan in the first half of the year, a year-on-year growth rate of 575%, becoming the fastest growing car company in net profit. Great Wall Motors ranked third with a net profit of 7.079 billion yuan, up 419.99% year-on-year, also showing strong growth momentum. It is worth noting that despite the top net profit ranking, Great Wall Motor did not rank among the top three in terms of sales volume.
In terms of bicycle profit margin, Great Wall Motor topped the list with a bicycle profit margin of 12,757 yuan. Geely Auto followed with a profit margin of 11,085 yuan per unit. In contrast, the bicycle profits of new car manufacturers show obvious differentiation. Although the ideal automobile, Salis and other car companies have achieved bicycle profits, the profit margin is relatively low, respectively, 8952 yuan and 8088.6 yuan. The zero running car and Xiaopeng Automobile are still Mired in losses, of which the zero running car cycle loss of more than 25,000 yuan, Xiaopeng Motor cycle loss is more than 51,000 yuan. It is worth noting that the loss of BAIC new energy reached an astonishing 91,000 yuan or more, reflecting the huge investment of BAIC New Energy in the polar Fox brand and failed to exchange the corresponding market return.
In terms of sales, SAIC ranked first with 1.827 million cumulative sales, despite a year-on-year decline of 11.81%, but its influence in the traditional fuel vehicle market is still not to be underestimated. Byd followed with 1.613 million units sold, up 28.46 percent year on year. Changan Automobile ranked third, with cumulative sales of 1.334 million units, up 9.7% year on year. In terms of revenue, BYD topped the list with a revenue of 301.127 billion yuan, an increase of 15.76% year-on-year, and became the revenue champion of domestic car enterprises in the first half of the year. Saic Motor and Geely Automobile ranked second and third, with revenue of 284.686 billion yuan and 107.305 billion yuan, respectively.
Overall, in the first half of the year, domestic car companies showed a clear trend of differentiation in net profit and bicycle profits. Traditional car companies such as BYD and Geely Automobile continue to maintain their leading position with their strong brand influence and market appeal. The new power car companies are mixed in the fierce market competition, some car companies have achieved bicycle profits, but there are still many car companies deep in the loss predicament. In the future, with the continuous expansion of the new energy vehicle market and the constant change of the competitive landscape, the profitability and market performance of domestic car companies will still face many challenges and opportunities.
