The China Association of Automobile Manufacturers (CAAM) released the economic operation of the automobile industry in November. Data show that in November, China's automobile production and sales continued the growth momentum, completing 2.585 million and 2.522 million units respectively, an increase of 10.9% and 8.1% respectively, and a year-on-year decline of 9.3% and 9.1% respectively. Since September this year, China's monthly automobile production and sales have continued to grow month-on-month, and the automobile market has generally shown certain signs of recovery.
Profile picture.
According to the analysis of Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, China's macroeconomic operation was generally stable in November, the power supply tension eased, the price of raw materials fell, the manufacturing boom expanded, and the non-manufacturing industry generally maintained a stable recovery. The automotive industry strives to overcome the impact of tight chip supply, scattered epidemics, policy and regulatory adjustments, etc., and the overall production and marketing situation is slightly better than expected at the beginning of the month.
From January to November this year, automobile production and sales reached 23.172 million units and 23.489 million units, up 3.5% and 4.5% year-on-year, respectively, and the growth rate continued to decline slightly by 1.9 percentage points from the previous 10 months. "It is expected that production and sales in December are expected to continue the month-on-month growth momentum, with annual production and sales of more than 26 million units, of which the annual production and sales of new energy vehicles are expected to exceed 3.4 million units." Chen Shihua said.
In terms of different models, although passenger cars are still affected by the lack of chip supply and the outbreak of scattered epidemics, monthly production and sales have risen month-on-month, and the operating trend is basically the same as that in October. Sales totaled 2.192 million units in November, up 9.2% m/m and 4.7% yoy-y. From January to November, production and sales of passenger cars totaled 18.879 million units and 19.06 million units, up 6.9% and 7.1% year-on-year. Affected by the switching of China VI emission regulations and the continuous reduction of industry dividends, commercial vehicles still showed a sharp decline year-on-year, and the operating trend was weaker than in October. In November, commercial vehicle production and sales totaled 353,000 units, up 3.2% and 1.1% month-on-month and 31.9% and 30.3% year-on-year. Compared with the same period last year, the production and sales of trucks and buses showed a rapid decline.
Although the downward pressure on the overall production and sales of automobiles is relatively large, the market demand for new energy vehicles is still strong, and production and sales continue to hit a record high. Production and sales in November reached 457,000 units, up 15.1% and 17.3% sequentially, up 1.3 times and 1.2 times year-on-year. From January to November, the cumulative production volume has exceeded 3 million units, and the sales volume has approached 3 million units, and the cumulative sales penetration rate has increased to 12.7%.
"At present, consumers' acceptance of new energy vehicles is getting higher and higher, and the new energy vehicle market has shifted from policy-driven to market-driven." Chen Shihua said. In addition, in November, automobile exports also continued to maintain rapid growth year-on-year, and the share of Chinese brand passenger cars has maintained growth for eight consecutive months year-on-year.
"Looking forward to December, with the macroeconomic stability and good development, the demand for automobile consumption is still stable. However, there is still uncertainty on the supply side, the problem of tight chip supply still exists, and the orderly use of electricity in various places and the domestic scattered epidemic at the end of the year have increased the potential industrial chain supply risk of the automobile industry. Coupled with the impact of high base factors in the same period last year, the pressure on automobile production and sales to maintain stability is still large. Chen Shihua said, "Comprehensive judgment, the annual automobile production and sales will be slightly higher than the same period last year." ”