On March 11, the latest phase of production and sales data released by the China Association of Automobile Manufacturers (hereinafter referred to as "CAAM") showed that in February 2022, the production and sales of mainland automobiles reached 1.813 million units and 1.737 million units, down 25.2% and 31.4% respectively, and increased by 20.6% and 18.7% year-on-year, respectively.
The analysis of the China Automobile Association pointed out that due to the factors of the Spring Festival holiday, the working days have decreased, and the outbreak of the epidemic in some parts of the country has also affected the growth of the automobile market demand to a certain extent, so the automobile production and marketing ring has declined significantly, but it has shown rapid growth year-on-year.
The reason for the sharp year-on-year increase in automobile production and sales in February is that new energy vehicles and automobiles and automobile exports have played a positive role in promoting, and second, the demand for inventory replenishment has driven growth.
According to the data, the production and sales of new energy vehicles in February continued to maintain rapid growth year-on-year, with production and sales reaching 368,000 units and 334,000 units, respectively, down 18.6% and 22.7% month-on-month, and up 2.0 times and 1.8 times year-on-year. Among the main varieties of new energy vehicles, compared with the previous month, the production and sales of pure electric vehicles and plug-in hybrid vehicles have declined, of which the production and sales of pure electric vehicles have decreased more significantly; compared with the same period last year, the production and sales of pure electric vehicles and plug-in hybrid vehicles continue to maintain a rapid growth momentum.
In terms of automobile exports, in February, automobile companies exported 180,000 vehicles, down 21.9% month-on-month and 60.8% year-on-year, continuing to maintain substantial growth. By model, passenger car exports were 146,000 units this month, down 21.0% month-on-month, up 72.3% year-on-year, and commercial vehicle exports were 34,000 units, down 25.6% month-on-month and 25.4% year-on-year. The export growth of new energy vehicles contributed 52.0% this month.
Xiaoxiang Morning News reporter Hu Xiong