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Passenger Car Retail Sales of 363,000 Units in the Second Week of December 2019 Down 9% y/y

As we all know, new energy vehicles have developed rapidly in recent years, and from January to November, China's new energy vehicle production has accumulated more than 3 million units, with sales of 2.99 million units, an increase of 166.8% year-on-year, and the penetration rate has increased to 12.7%. On December 15, the Association released the data of the car market for the second week of December, and the retail sales of passenger cars from December 6 to 12 were 363,000 units, down 9% year-on-year and 8% from the previous week.

Passenger Car Retail Sales of 363,000 Units in the Second Week of December 2019 Down 9% y/y

Weekly retail trends in the passenger car market in December

The data shows that the retail sales of the overall narrow passenger car market in the first week of December averaged 40,000 units per day, down 17% year-on-year; the overall narrow passenger car market retail sales in the second week averaged 52,000 units per day, down 9% year-on-year; and the overall data in the first two weeks reached 561,000 units, an average of 47,000 units per day, down 12% year-on-year. Due to the tightening of manufacturers' promotions in the second half of the year, the need for epidemic prevention and control, the emergence of ice and snow weather and other factors, consumer demand for new energy vehicles has increased.

Passenger Car Retail Sales of 363,000 Units in the Second Week of December 2019 Down 9% y/y

Weekly wholesale trend of the passenger car market in December

From January to November, passenger car exports were 1.32 million units, an increase of 130%, and the trend was good, of which the industrial development of new energy vehicles has made world-renowned achievements, mainly due to four aspects: the market gap caused by the obstruction of automobile production and sales in developed countries, the great increase in the world competitiveness of China's new energy vehicles, the construction of China's overseas bases, and China's continuous improvement of overseas trade relations to promote automobile exports.

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