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On Wuling's October sales poster, the biggest number is 142,757. The unit in the overseas column is units/sets. "Units" are complete cars, "sets" mean parts are shipped box by box, assembled into cars locally. No other car company in the Chinese market accounts for this way. This one character "set" clarifies Wuling's overseas stage. What it sells overseas is already a complete method for making cars. Complete cars are just one part of it. October column 38,911. Standing above 30,000 for 7 consecutive months. January to October cumulative 321,891 units/sets.
Sold 142,757 vehicles globally in October. Among them, 99,958 were New Energy Vehicles, exactly 70%. Passenger vehicles 60,835, commercial vehicles 35,001. The Passenger Car Alliance estimates that in October, for every 100 passenger vehicles sold nationwide, 67 were New Energy. This figure only reached the industry level this year. Wuling's own New Energy proportion has long been around 70%. The overall car market in October was down 28.9% compared to last year. Many car companies are far from their full-year targets. 142,757 units were achieved in such a month. The ranking on the list changes every month. Few car companies nationwide could achieve 99,958 New Energy units in a single month like this.
The weight of this 70% figure lies in Wuling's car prices. The industry's 67% point of electric vehicles is mostly supported by replacement purchases over 100,000 yuan. For a 40,000 yuan electric car to sell well, costs must be balanced first. This relies on output of over a million units and cost-saving efforts throughout the parts chain, accumulated year by year. On October 20, the 2 millionth Hongguang MINI EV rolled off the line in Liuzhou. Counting from the first mass-produced vehicle in 2020, it took more than six years. During this period, it was the best-selling A00-class pure electric vehicle for 74 consecutive months. This car sold over 400,000 units in 2021, taking the small car category from the margins to a mainstream market recognized by everyone. The 5th generation launched in March this year gave it four doors and four seats, with 205 km and 301 km versions, with a guide price starting at 44,800 yuan. Why does a small car worth over 40,000 yuan support a category for six years? The answer is in the sales table. Among buyers of this car, the majority are first-time car buyers in county towns and prefecture-level cities. The proportion of electric vehicles can still rise further. The rising part is mainly in county towns. People there mostly buy cars for the first time. That market Wuling has been in since building the first microcar.
January to October, Wuling globally cumulative sales 1,200,926 vehicles. Among them New Energy 669,598 vehicles. Calculated cumulative proportion slightly over 50%. October single month was 70%. Single month running ahead of cumulative shows 70% is the newly reached position, still going up. The last dozen points on the electric vehicle proportion line are hardest to hold. Whoever holds it first negotiates prices with battery and parts factories more assertively. Setting prices with peers is calmer. Wuling's two abilities were practiced in the 40,000 yuan per vehicle market.
The other line is Huajing. Huajing S went from 3,603 vehicles in May to 7,507 vehicles in October, doubling in six months, no month went back. New brand monthly sales usually have two trends. One is delivering accumulated orders in the first month after launch, hitting a high point, then dropping for consolidation. The other is climbing month by month. Huajing S is the latter. The hardest part for a new brand is after a few months. Can it continue selling after accumulated orders are delivered? The volume climbed by Huajing S in these six months is real demand, not inventory orders. For the brand to go up, Wuling now has two lines. Hongguang MINI EV holds the core market. Huajing goes to open up that higher price segment. The name CCTV Family Smart Mobility Strategic Partner is printed side by side with Huajing on the poster.
October, Macaron, Darion, Bingo, Grango four models launched in Vietnam, corresponding to Hongguang MINI EV 4-door version, Starlight 730, Bingo, and Hongguang EV. Porta EV entered Malaysia at the same time. Giving cars new names that locals remember better overseas is a small detail in localization. Southeast Asia is one of the fastest places for new car sales worldwide. Chinese car companies go overseas also go there. Tariffs for Chinese complete vehicles vary in those countries. Assembling locally saves a large amount. The "set" in units/sets saves this money. This ability started accumulating in 2017. That year Wuling built a complete vehicle factory in Indonesia. What is the next phase of overseas expansion? It's about who can build cars locally. Who is willing to modify cars according to local market requirements. Wuling has already cleared this path. January to October overseas cumulative 321,891 units/sets. Enough for a standalone press conference at many Chinese brands. Wuling writes it as a quiet column in the monthly poster.
This year marks Wuling's 68th anniversary. Started with tractors in 1958. First microcar made in 1982. Since then, every generation's main business has been the smallest segment of that year. 68 years passed. The smallest segment became a business of a million vehicles a year level.
Liuzhou's Smart Island manufacturing system entered national-level benchmark lists and enterprise chronicle excellent cases. Company also signed strategic cooperation with Shanghai Artificial Intelligence Research Institute. Talking about smart manufacturing for microcar factories, stable delivery at the level of a million vehicles a year is the most direct explanation. This ability is about holding mass manufacturing and cost suppression simultaneously. Wuling has done this for 68 years.
Talking about how much electric cars in the industry can rise, mostly talking about the half over 100,000 yuan. The other half is below. 40,000 yuan cars sell hundreds of thousands of units a year. The proportion is pushed up bit by bit like this. January to October 1,200,926 vehicles. Hongguang MINI EV six years 2 million vehicles. Overseas for 7 consecutive months breaking 30,000 units/sets. Huajing S rising consecutively for 6 months. Behind these numbers is the same way of living. Started from that tractor factory room in Liuzhou in 1958. 68 years only focusing on the smallest segment. Doing it down year by year. When the day comes for the industry electric car proportion to reach 80%, the cars added in the middle, most are in the 40,000 to 100,000 yuan range. Wuling has stood there in that range for six years.
