The China Association of Automobile Manufacturers released the latest november automotive industry production and sales data. According to the data, in November this year, the production and sales of automobiles completed 2.585 million units and 2.522 million units, up 10.9% and 8.1% respectively; production and sales fell by 9.3% and 9.1% respectively; from January to November, China's automobile production and sales reached 23.172 million units and 23.489 million units, respectively, an increase of 3.5% and 4.5% year-on-year, and the growth rate continued to decline slightly compared with January to October.
Among them, in November this year, the monthly production and sales of new energy vehicles in China exceeded 400,000 for the first time, and the production and sales reached a record high, and it is expected that the annual production and sales of new energy vehicles are expected to exceed 3.4 million. From January to November, the production and sales of new energy vehicles in China reached 3.023 million units and 2.99 million units respectively, an increase of 1.7 times year-on-year. Among the main varieties of new energy vehicles, compared with the same period last year, the production and sales of pure electric and plug-in hybrid vehicles still maintain a steady growth momentum.
Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, said that in November, the automotive industry worked hard to overcome the impact of tight chip supply, policy and regulatory adjustments, etc., and the overall production and marketing situation was slightly better than expected at the beginning of the month.
Data from the China Association of Automobile Manufacturers shows that since September, China's monthly automobile production and sales have continued to grow month-on-month, and the domestic automobile market has generally shown certain signs of recovery, and it is expected that the production and sales of automobiles in December are expected to continue the month-on-month growth momentum, and the annual automobile production and sales are expected to exceed 26 million.
The market remains optimistic about next year's situation.
According to previous media reports, the inventory of major automotive chip suppliers in the market has increased for the first time in nearly 9 months. Japan's Renesas, The Netherlands' NXP Semiconductors, and Germany's Infineon's recent total inventories increased by 0.7% year-on-year, which is also the first year-on-year increase in nearly three quarters. Among these 5 companies, 4 have seen year-on-year increases in inventory. In the case of the gradual resolution of chip shortages, the demand for terminal car purchases will also be further released.
Orient Securities expects that next year is also the domestic passenger car purchase period, superimposed on the suppressed demand caused by chip supply this year, it is expected that the suppressed demand is expected to be released next year, and it is expected that the sales of narrow passenger cars will grow steadily in 2022.
According to the official website of the China Automobile Association, Xinhua News Agency, Sina Auto, NetEase News, etc
Editor-in-charge Hao Yiping
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