New Energy Car Companies Struggle to Meet 2023 Sales Targets
Kuai Technology reported on January 3 that a majority of car companies in the new energy vehicle industry have not been able to meet their annual sales targets for 2023. Out of the top 12 new energy brands, only BYD, Li Auto, and Dongfeng Lantu have achieved their annual sales targets, while nearly 80% of the companies have fallen short.
Among the companies that have met the standards, BYD leads the way with annual sales of 3.02 million vehicles, surpassing the minimum target of 3 million vehicles set at the beginning of the year. Li Auto also exceeded its annual target by delivering 376,000 vehicles, a 182.2% increase from the previous year. Geely Automobile and Lantu Automobile also managed to complete their sales targets.
On the other hand, companies like NIO and Xpeng Motors struggled to meet their annual targets, with NIO delivering only 65.3% of its goal and Xpeng Motors completing 70% of its target. Nezha Automobile and Thalys also fell short, with Nezha experiencing a decline in sales for seven consecutive months.
The industry-wide competition strategy of “price-for-volume” has led to fierce price competition among car companies. However, despite the aggressive pricing, the completion of sales targets has not been ideal. This is expected to further intensify competition among car companies in the coming year.
The data serves as a reflection of the challenges faced by new energy car companies in meeting the demands of the market while navigating the competitive landscape. For more information on this topic, please visit Kuai Technology‘s website for the original article.
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