On February 18, the China Association of Automobile Manufacturers released the completion of the main indicators and economic operation of the mainland automobile industry in January. According to the data, mainland automobile production and sales in January were 2.421 million units and 2.531 million units, respectively, down month-on-month and slightly higher than the same period last year. Production and sales of passenger cars were 2.077 million units and 2.186 million units, up 8.7% y/y, up 6.7% y/y.
The performance of new energy is still outstanding, and the production and sales of new energy vehicles in mainland China reached 452,000 units and 431,000 units in January, up 133.2% and 135.8% year-on-year, respectively, and continued to maintain a high-speed growth momentum.
Sales of new energy vehicles in January 2022
In terms of the market share of each series in the passenger car market, in January 2022, the sales volume of Chinese brands (autonomous) reached 1.004 million units, an increase of 15.9% year-on-year, and the market share continued to increase to 45.9%. It should be noted that the market share of Ashkenazi brands and Japanese brands continued to decline, with the share of German brands falling to 21.1% and the Japanese share falling to 20.3%. In addition, sales of high-end brand passenger cars produced in China reached 381,000 units in January this year, an increase of 11.1% year-on-year.
From the perspective of the operation of key enterprises, in January 2022, SAIC, Dongfeng, Changan, GAC, BYD and Chery all achieved year-on-year growth; FAW, Geely, BAIC and Great Wall all declined to varying degrees year-on-year. In addition, the total sales of new car manufacturers in January reached 121,000 units, an increase of 171.9% year-on-year.