Automobile production and sales both fell in July, and "plug-in hybrid" promoted the continued growth of new energy
2024-08-12
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Original title: Automobile production and sales both fell in July, and "plug-in hybrid" boosted the continued growth of new energy
In July, my country's automobile production and sales were 2.286 million and 2.262 million respectively, down 8.8% and 11.4% month-on-month, and down 4.8% and 5.2% year-on-year respectively. Chen Shihua said that the auto market entered the traditional off-season in July, and some manufacturers took a high-temperature holiday, so the pace of production and sales slowed down. The overall market performance was relatively flat, with a decline both month-on-month and year-on-year.
Among them, the production and sales of new energy vehicles reached 984,000 and 991,000 respectively, up 22.3% and 27% year-on-year respectively, with a market share of 43.8%. "The growth of my country's new energy vehicle market this year is mainly driven by plug-in hybrid models. At present, various automobile manufacturers have launched more and more plug-in and extended-range models, and they are also very competitive." Chen Shihua said.
After a growth of about 5% in the first half of the year, automobile production and sales declined in July. On August 9, the China Association of Automobile Manufacturers (hereinafter referred to as "CAAM") released data showing that in July, my country's automobile production and sales were 2.286 million and 2.262 million respectively, down 8.8% and 11.4% month-on-month, and down 4.8% and 5.2% year-on-year respectively.
Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, said that the auto market entered the traditional off-season in July, and some manufacturers took a holiday due to the high temperatures, and the pace of production and sales slowed down. The overall market performance was relatively flat, with both a month-on-month and year-on-year decline. In addition, insufficient consumer confidence and natural disasters also affected auto consumption.
Chinese brands’ market share further increased
In the first seven months, my country's automobile production and sales reached 16.179 million and 16.31 million, up 3.4% and 4.4% year-on-year, respectively. The growth rate of production and sales narrowed by 1.5 and 1.7 percentage points compared with January-June. "The growth data for the first seven months was higher than the 3% expected at the beginning of the year, but automobile production and sales continued to grow in the second half of last year, so the pressure in the last few months of this year is relatively high," said Chen Shihua.
Specifically for passenger cars, production and sales in July reached 2.03 million and 1.994 million respectively, down 6.8% and 10% month-on-month, and down 4% and 5.1% year-on-year respectively; production and sales in January-July reached 13.917 million and 13.947 million respectively, up 3.9% and 4.5% year-on-year respectively.
Domestically, passenger car sales in July were 1.595 million units, down 10.1% year-on-year; passenger car exports were 399,000 units, up 22.4% year-on-year.
In July, the domestic sales of traditional fuel passenger cars reached 742,000 units, a decrease of 383,000 units from the same period last year. "In July, the domestic sales of fuel passenger cars accounted for less than 50%, and the market share was lower than that of new energy vehicles," Chen Shihua lamented.
In terms of grades, the sales of traditional fuel vehicles are still mainly concentrated in the A-grade, with cumulative sales of 4.624 million vehicles in the first seven months, a year-on-year decrease of 9.5%. In contrast, for new energy passenger vehicles, except for the decline in sales of the A00 grade, sales of other grades have shown positive growth, among which the D grade has the largest increase; currently, sales are mainly concentrated in the A-grade and B-grade, with cumulative sales of 1.853 million and 1.83 million vehicles in the first seven months, a year-on-year increase of 8.7% and 61.3% respectively.
"The overall performance of the current auto market is that new energy vehicles are developing rapidly. Traditional fuel vehicles are no longer a structural problem at all levels, but the entire market is declining," said Chen Shihua.
In the passenger car market, Chinese brands have further increased their market share. In July, Chinese brand passenger car sales were 1.323 million, up 10.1% year-on-year, accounting for 66.4% of total passenger car sales, up 9.2 percentage points from the same period last year; from January to July, a total of 8.742 million vehicles were sold, up 21.6% year-on-year, with a market share of 62.6%.
In the first seven months, the top ten enterprise groups sold 13.803 million vehicles, up 4.2% year-on-year, accounting for 84.6% of total vehicle sales, down 0.1 percentage point from the same period last year. Among them, the top three sold 5.682 million vehicles, down 0.8% year-on-year, with a market share of 34.8%.
“Plug-in hybrid” promotes the continuous growth of new energy
Compared with the overall auto market, new energy vehicles are one of the few bright spots. In July, the production and sales of new energy vehicles reached 984,000 and 991,000 respectively, up 22.3% and 27% year-on-year, with a market share of 43.8%; from January to July, the production and sales of new energy vehicles reached 5.914 million and 5.934 million respectively, up 28.8% and 31.1% year-on-year, with a market share of 36.4%.
In terms of drive type, the production and sales of pure electric, plug-in hybrid and fuel cell vehicles all increased to varying degrees in July; among them, the sales of plug-in hybrid models reached 438,000 units, an increase of 80.7% year-on-year, far exceeding the overall growth rate of new energy vehicles.
"The growth of my country's new energy vehicle market this year is mainly driven by plug-in hybrid models, while the growth of the pure electric market has slowed down." Chen Shihua said that currently various automobile manufacturers are launching more and more plug-in and extended-range models, which are also very competitive.
From January to July, the top ten corporate groups in terms of new energy vehicle sales had a total sales volume of 5.089 million vehicles, a year-on-year increase of 30.5%, accounting for 85.7% of the total sales of new energy vehicles, 0.4 percentage points lower than the same period last year; among them, the top three companies had sales of 2.968 million vehicles, a year-on-year increase of 30.8%, and a market share of 50%.
In addition, exports are also one of the driving forces for the growth of my country's automobile industry. In July, my country exported 469,000 vehicles, a decrease of 3.2% from the previous month and an increase of 19.6% from the previous year. From January to July, the export of automobiles was 3.262 million, a year-on-year increase of 28.8%, of which the export of passenger cars was 2.738 million, a year-on-year increase of 30.1%.
In terms of drive type, the export growth rate of new energy vehicles is slightly lower. Data shows that in the first seven months, 708,000 new energy vehicles were exported, an increase of 11.4% year-on-year. Among them, 554,000 pure electric vehicles were exported, a year-on-year decrease of 4.6%; 154,000 plug-in hybrid vehicles were exported, an increase of 1.8 times year-on-year.
Chen Shihua stressed that my country's new energy vehicle products are highly competitive and meet the needs of foreign consumers, especially the rapid growth of plug-in hybrid vehicle exports. However, the current pure electric vehicle exports are subject to some unfair and unreasonable treatment by foreign countries, which affects the overall export of my country's automobiles.
From January to July, among the top ten vehicle exporters, in terms of growth rate, BYD exported 238,000 vehicles, a year-on-year increase of 1.4 times; Great Wall exported 240,000 vehicles, a year-on-year increase of 58.8%; Changan exported 326,000 vehicles, a year-on-year increase of 57.9%.
Looking ahead to the automobile market for the whole year, Chen Shihua said that the National Development and Reform Commission and the Ministry of Finance recently issued the "Several Measures on Strengthening Support for Large-Scale Equipment Renewal and Consumer Goods Trade-in". The policy strength has been greatly increased compared with the implementation details released on April 24, and both passenger cars and commercial vehicles have received subsidy support. The policy increase at the national level will further release the replacement demand in the stock market; coupled with the continuous launch of new products by automakers, some local governments have relaxed purchase restrictions, increased issuance indicators and other multi-level measures, which will help achieve the expected goals for the whole year. (China Economic Net reporter Jiang Zhiwen; Image source: China Association of Automobile Manufacturers)
Source: China Economic Net
