Wholesale sales of passenger cars in 2021 ended with 21.1 million units

On January 11, 2022, the Association announced the production and sales of narrow passenger cars for December 2021. The data shows that in December 2021, narrow passenger car production increased by 7.2% year-on-year, retail sales fell by 7.9% year-on-year, and wholesale sales increased by 2.3% year-on-year. At the same time, from January to December 2021, the production and sales of passenger cars in the narrow sense ended with positive growth, of which retail sales reached 20.146 million units, an increase of 4.4% year-on-year; wholesale sales were 21.098 million units, an increase of 6.7% year-on-year.

The Federation pointed out that the relative growth of production and sales of narrow passenger cars in December was obvious, although the production of individual regions affected by the epidemic was slightly affected, but thanks to the continuous improvement of chip supply, production and sales in December showed obvious signs of rising. In particular, retail sales in December increased by 15.9% month-on-month, far exceeding the average of 10% month-on-month growth in December in recent years. Among them, the retail sales of independent brands reached 930,000 units in December, an increase of 4% year-on-year; the retail sales of luxury cars and mainstream joint venture brands in December both declined to varying degrees.

In December 2021, the wholesale sales of new energy passenger vehicles reached 505,000 units, an increase of 138.9% year-on-year, and the cumulative wholesale sales of new energy passenger vehicles from January to December were 3.312 million units, an increase of 181% year-on-year. The high growth of new energy passenger vehicles is in strong contrast with the trend of traditional fuel vehicles, which on the one hand reflects that some of the substitution effects of new energy vehicles on the fuel vehicle market are intensifying, and on the other hand, it also indicates that more traditional car companies have joined the army of electrification transformation.

For the expectation of the car market in January 2022, the federation said that since the Spring Festival is a concentrated outbreak node for first-time users, the performance of the car market in January is bound to be stronger. In addition, the early return to the hometown before the holiday caused by the spread of the epidemic will also pull the hot sales period of the pre-holiday car market forward. For the overall auto market in 2022, there is also a major positive, that is, the new energy subsidy policy in 2022 will keep the current technical indicator system framework and threshold requirements unchanged, and will achieve subsidies throughout 2022, so it will stimulate the new energy market in 2022 to strengthen again.

Xiaoxiang Morning News reporter Mao Chuan

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