RedNet Moment, March 8 (Reporter Long Zhen) Today, the Automobile Market Research Branch of the China Automobile Dealers Association (THE ASSOCIATION) released the latest retail sales data. According to the data, the retail sales of the passenger car market reached 1.246 million units in February 2022, an increase of 4.2% year-on-year and a decrease of 40.0% month-on-month, with a cumulative retail sales of 3.324 million units from January to February.
According to the analysis, since the Spring Festival holiday starts from January 31, but the pre-holiday production line and consumer car purchase will be a few days earlier, resulting in a large loss of production and sales in January. After the Spring Festival this year, some enterprises started work earlier, and the production in February was less lost due to the Spring Festival factor, which drove the retail sales in February after the month-on-month and year-on-year performance were converted into good growth.
In February, 540,000 self-owned brand retail units were sold, up 14% year-on-year and down 42% month-on-month. The domestic retail share of independent brands in February was 44%, an increase of 4.3 percentage points year-on-year; the wholesale market share of independent brands in February was 43.4%, an increase of 1.1 percentage points over the same period. The performance of independent brand head enterprises is differentiated, and the independent new energy market has obtained a significant increase, so byddier and other traditional car brand brands have shown high growth year-on-year.
In February, the retail sales of mainstream joint venture brands were 550,000 units, down 1% year-on-year and 36% month-on-month; the retail share of Japanese brands was 23.1%, an increase of 1.6 percentage points year-on-year; the share of German brands was 20.5%, down 4 percentage points year-on-year; and the retail share of American brands reached 9.1%, down 0.6 percentage points year-on-year.
Wholesale sales of new energy passenger vehicles reached 317,000 units in February, up 189.1% year-on-year and down 24.1% month-on-month, less than in previous years. Retail sales of new energy passenger cars reached 272,000 units in February, up 180.5% year-on-year and down 22.6% month-on-month, which was smaller than the trend in February of the calendar year.
At the same time, the domestic retail penetration rate of new energy vehicles in February was 21.8%, an increase of 13 percentage points from the penetration rate of 8.1% in February 2021.