The Association of Passenger Vehicles: Sales of new energy passenger vehicles in January maintained rapid growth year-on-year

This article is transferred from: Economic Reference Newspaper

According to the data released by the Passenger Car Market Information Joint Committee on the 14th, in January 2022, the wholesale sales of new energy passenger cars reached 412,000 units, an increase of 141.4% year-on-year.

According to the Association, in January 2022, the retail sales of the domestic passenger car market reached 2.092 million units, down 4.4% year-on-year and 0.6% month-on-month. Due to factors such as production suspension before the Spring Festival holiday and early purchase of cars by consumers, it is estimated that there will be a loss of about 15% of production and sales, so the overall trend of retail sales in January after converting month-on-month and year-on-year performance is very good.

During the Spring Festival in 2022, the number of passengers sent nationwide increased by more than 40% year-on-year. The return of large-scale residents to their hometowns has formed a certain support for the purchase of cars in some central and central provinces, counties and townships, and the increase in pre-holiday promotion efforts has also boosted the tide of car purchases back to their hometowns. With the gradual strengthening of production and batch sales in the past few months, the overall market supply has shown a warming trend, and manufacturers have actively welcomed the "opening red" of the New Year, bringing retail to continue to strengthen. Moreover, with the arrival of the pre-holiday sales season, dealers in January significantly increased the intensity of terminal discounts, sales enthusiasm increased rapidly, and terminal retail strengthened.

Among them, new energy vehicles maintained rapid growth year-on-year. According to the data, the wholesale sales of new energy passenger cars reached 412,000 units in January, an increase of 141.4% year-on-year, and the retail sales of new energy passenger cars reached 347,000 units in January, an increase of 132% year-on-year.

In January 2022, there were 11 companies with wholesale sales of new energy vehicles exceeding 10,000 units, a significant increase of 6 over the same period, of which BYD exceeded 93,000 units, followed by Tesla China to nearly 60,000 units. Among the mainstream joint venture brands, North and South Volkswagen's wholesale of new energy vehicles exceeded 13,000 units, accounting for 59% of the mainstream joint venture brand product market.

The Federation of Passenger Vehicles said that the trend of new energy vehicles and traditional fuel vehicles before the Spring Festival has formed a synchronous and stronger feature, and the demand for entry-level consumption and traditional car exchange before the Spring Festival is strong, coupled with the strong growth of new energy vehicles, promoting the overall growth of retail sales in the new energy passenger car market. Due to the impact of centralized delivery at the end of 2021, sales in the first week of January 2022 were weak, but there was a significant recovery in the second and third weeks.

In January, independent brands continued to grow, with retail sales reaching 940,000 units, up 11% year-on-year and 1% month-on-month, and the retail market share was 45.5%, up 6.4 percentage points year-on-year. At the same time, passenger car exports reached 169,000 units, an increase of 91% year-on-year, and the export of independent brands reached 107,000 units, an increase of 56% year-on-year, and new energy vehicles accounted for 30% of the total exports.

For the future automobile market, the Association said that with the decline of new energy subsidies and the rise in raw material prices, the price fine-tuning of some models in the early stage brought about a temporary downturn in orders, and the price acceptance of new energy vehicles recovered after the Spring Festival, coupled with the fact that many new energy vehicles still have a backlog of undelivered orders in the early stage, so the sales of new energy models in February will not be significantly affected by the decline.