Zhitong Finance APP learned that data from the Association of Passenger Vehicles showed that from February 21 to 28, the retail sales of passenger cars were 644,000 units, an increase of 31% year-on-year, an increase of 81% over the previous week, and an increase of 8% over the same period last month. Wholesale of passenger cars totaled 710,000 units, up 37% year-on-year, up 54% sequentially and up 2% from the same period last month.
Weekly retail trends in the passenger car market in February
At present, the preliminary statistics of domestic terminal retail sales in the whole month of February were 1.312 million units, an average of 47,000 units per day, an increase of 10% over February last year and a 37% decrease from January, with a good overall performance.
Due to the Spring Festival factor, the amount in the first week of February is difficult to accurately count, so the average is taken. The overall narrow passenger car market retail sales in the first to second weeks of February reached an average of 26,000 units per day, down 33% year-on-year, and the performance was relatively low, which was also a normal adjustment due to festive factors, with the first and second weeks of February falling 55% relative to the same period in January.
In the third week of February, the car purchase period before the school season entered, with an average daily retail sales of 47,000 vehicles, an increase of 67% over the same period during the Spring Festival in February last year, a 32% decrease from retail sales in the same period in January, and a 70% increase in retail sales in the pre-holiday hot period, and the retail sales in the market after the Spring Festival recovered better.
The fourth week of February entered a relatively normal consumption stage, with an average daily retail sales of 80,000 vehicles, an increase of 31% over the same period during the Spring Festival in February last year, a 22% decrease from the same period in January, and retail sales rebounded to 80% compared with the pre-holiday hot period, and the retail sales in the market after the Spring Festival recovered better.
Weekly wholesale trend of the passenger car market in February
At present, the preliminary statistics of the wholesale sales of manufacturers in the whole month of February were 1.502 million units, an average of 54,000 units per day, an increase of 31% over February last year, a 30% decrease from January, and the overall performance was very good.
Due to the Spring Festival factor, the wholesale volume of manufacturers in the first week of February was almost zero, and it was difficult to accurately count, so the average was taken in one to two weeks. The overall number of narrow passenger car manufacturers in the first two weeks of February reached an average of 28,000 units per day, down 20% from the same period in February 2021, and the performance was relatively low, which is a normal adjustment under the influence of festive factors.
In the third week of February, manufacturers wholesaled 62,000 vehicles, due to the Spring Festival factor in the same period, so there was a lack of effective comparisons with the same period of the previous year, and the post-holiday trend of the calendar year was more normal. Manufacturers' sales fell by 9% compared with the same period in January, and the post-holiday performance was stronger.
In the fourth week of February, manufacturers wholesaled 89,000 units, up 37% year-on-year sales and down 28% from the same period in January, compared with the post-holiday trend of previous years.
Due to the early suspension of production before the January holiday, the channel inventory after the boom in the Car Market in January is still at a low level, and as the car companies quickly resume normal production and sales after the holiday, dealers in February still have good demand for replenishment.
Due to the early Spring Festival this year, the last week of January entered the Spring Festival dormancy period of the car market, which was 11 days less than february 2021, but also reduced the early dormancy period in the days before the Spring Festival. Manufacturers still have the willingness to continue to grow, after the Spring Festival are grasping the resumption of work to deliver orders, production capacity continues to recover, supply is more in line with market demand, so the recovery after the February holiday is earlier, and the year-on-year growth of the automobile market is well reflected.