New energy vehicles and auto exports continue to develop well

Recently, the China Association of Automobile Manufacturers (hereinafter referred to as “CAAM”) released data on automobile production and sales in July. In July, the production and sales of automobiles reached 2.401 million and 2.387 million respectively, a decrease of 6.2% and 9% month-on-month and a decrease of 2.2% and 1.4% year-on-year. From January to July, the cumulative production and sales of automobiles were 15.65 million and 15.626 million, a year-on-year increase of 7.4% and 7.9% respectively, and the cumulative growth rate has dropped from January to June.

According to the analysis of the China Association of Automobile Manufacturers, under the influence of the high base in the same period last year and the off-season of the traditional auto market, the rhythm of production and sales in July slowed down, and the overall market performance was relatively flat, with a month-on-month decline. In late July, the Political Bureau of the Central Committee of the Communist Party of China held a meeting. When deploying the economic work in the second half of the year, it clearly proposed to boost the consumption of automobiles and other large items. Thirteen departments including the National Development and Reform Commission issued “Several Measures on Promoting Automobile Consumption”, proposing 10 specific measures to stabilize and expand automobile consumption. It is expected that with the implementation of a new round of automobile consumption promotion policies, the potential of automobile consumption is expected to be further released, which will help the industry achieve the goal of steady growth throughout the year.

In terms of passenger vehicles, the production and sales in July were 2.115 million and 2.1 million, respectively, a decrease of 4.7% and 7.4% month-on-month, and a decrease of 4.3% and 3.4% year-on-year. Among the main varieties of passenger vehicles, compared with the previous month, the production and sales of the four major types of models all decreased slightly; Production and sales of minivans (MPVs) dropped slightly and sales increased slightly, while the production and sales of basic passenger vehicles (sedans) and crossover passenger vehicles both showed double-digit declines. From January to July, the production and sales of passenger vehicles totaled 13.397 million and 13.368 million, a year-on-year increase of 6% and 6.7% respectively. Among the main varieties of passenger vehicles, compared with the same period last year, the production and sales of sports utility vehicles (SUV) and multi-purpose passenger vehicles (MPV) increased significantly, and the production and sales of basic passenger vehicles (sedan) and crossover passenger vehicles increased significantly. The production and sales of vehicles have declined to varying degrees. High-end brand passenger cars grew rapidly year-on-year. In July, the sales of domestically produced high-end brand passenger vehicles reached 366,000 units, a month-on-month decrease of 11.5% and a year-on-year increase of 15.8%. From January to July, the sales of domestically produced high-end brand passenger vehicles reached 2.4 million units, a year-on-year increase of 19.1%.

In terms of commercial vehicles, the production and sales in July were 286,000 and 287,000, respectively, a decrease of 16.4% and 19% from the previous month, and a year-on-year increase of 17% and 16.8%. Among the main varieties of commercial vehicles, compared with the previous month, the production and sales of passenger cars and trucks both showed a double-digit decline;

From January to July, the production and sales of commercial vehicles totaled 2.253 million and 2.258 million, a year-on-year increase of 16.9% and 15.9% respectively. Among the main varieties of commercial vehicles, compared with the same period of the previous year, the production and sales of passenger cars and trucks both showed double-digit growth, and the growth rate of production and sales of passenger cars was more significant.

New energy vehicles continued to develop well in July, and their market share was further increased. The production and sales in the month reached 805,000 and 780,000 respectively. The output increased by 2.8% month-on-month, and the sales volume decreased by 3.2% month-on-month. Among the main types of new energy vehicles, compared with the previous month, the production and sales of plug-in hybrid vehicles showed a slight increase, the production and sales of pure electric vehicles increased slightly, and the sales volume decreased slightly, and the production and sales of fuel cell vehicles declined significantly; compared with the same period last year , the production and sales of pure electric vehicles and plug-in hybrid vehicles have increased to varying degrees, while the production and sales of fuel cell vehicles have declined and sales have increased.

From January to July, the production and sales of new energy vehicles totaled 4.591 million and 4.526 million, a year-on-year increase of 40% and 41.7% respectively, and the market share reached 29%. Among the main varieties of new energy vehicles, compared with the same period last year, the production and sales of the three major categories of vehicles all showed rapid growth.

Automobile exports grew rapidly year-on-year. In July, 392,000 automobiles were exported, a month-on-month increase of 2.7% and a year-on-year increase of 35.1%. Among them, 326,000 passenger vehicles were exported, a month-on-month increase of 4.4% and a year-on-year increase of 34.9%. From January to July, 2.533 million automobiles were exported, a year-on-year increase of 67.9%.

The top 10 auto sales companies (groups) sold a total of 13.048 million vehicles from January to July, accounting for 83.5% of the total auto sales. Among the top 10 auto sales companies, compared with the same period last year, BYD’s sales growth rate was the most significant, Chery Holdings, BAIC Group and Geely Holdings also showed double-digit growth, Changan Automobile and Great Wall Motors increased slightly, and other companies Sales have declined to varying degrees.