The new energy vehicle consumption policy shows its power to expand demand and promote transformation

Automobile production and sales are stable year-on-year Photo/ Yangcheng Evening News reporter Qi Yaoqi

Domestic retail penetration rate of new energy vehicles reached 21.8% in February

Yangcheng Evening News all-media reporter Zhang Aili

A few days ago, the National Passenger Car Market Information Association (hereinafter referred to as the Passenger Car Market Information Association) released the latest statistics showing that the retail sales of the passenger car market in February 2022 reached 1.246 million units, an increase of 4.2% year-on-year, down 40.0% month-on-month, and the overall trend of retail sales in February was strong. Under the unfavorable circumstances of this year's Spring Festival, which was 12 days earlier than last year, the cumulative retail sales in January and February were 3.324 million vehicles, 60,000 fewer than in 2021, but the overall trend was better.

Retail sales of new energy vehicles increased by 180.5% year-on-year

In February this year, the wholesale sales of automobile manufacturers reached 1.455 million units, an increase of 26.9% year-on-year and a decrease of 32.6% month-on-month. From January to February, wholesale sales of manufacturers reached 3.612 million units, an increase of 13.6% year-on-year, achieving a real start. Although the factors of the earlier Spring Festival have led to a 10-day less pre-holiday sales period this year than last year, due to the demand for replenishment and the strong sales of new energy vehicles, under the comprehensive influence, the cumulative growth rate in January and February reached 13.6%.

In the field of new energy vehicles, the wholesale sales of new energy passenger vehicles reached 317,000 units in February, an increase of 189.1% year-on-year and a decrease of 24.1% month-on-month, which was smaller than that of previous years. Retail sales reached 272,000 units, up 180.5% year-on-year and down 22.6% month-on-month, less than in February of the previous year.

In terms of pure electric vehicles, in February, the wholesale sales of A00-class reached 68,000 units, accounting for 28% of pure electric vehicles; the A0-class reached 33,000 units, accounting for 14% of pure electric vehicles; the A-class accounted for 23% of pure electric vehicles; and the B-class reached 85,000 units, down 15% month-on-month, accounting for 35% of pure electric vehicles.

In addition, the data shows that the domestic retail penetration rate of new energy vehicles reached 21.8% in February, an increase of 13 percentage points over the penetration rate of 8.1% in February 2021. In February, the penetration rate of new energy vehicles in independent brands reached 41.9%, the penetration rate of new energy vehicles in luxury vehicles reached 17.4%, and the penetration rate of new energy in mainstream joint venture brands reached 41.9%.

The wholesale sales of 5 car companies exceeded 10,000

In February, the new energy passenger car market diversified, BYD pure electric and plug-and-mix two-wheel drive to consolidate the position of independent brand new energy leaders; the traditional car companies represented by SCO Group and GAC Group performed relatively prominently in the new energy sector. There are 5 companies with wholesale sales exceeding 10,000 vehicles, an increase of 2 over the same period last year, including BYD 87,473 units, Tesla China 56,515 vehicles, SAIC-GM-Wulingda 26,046 vehicles, Geely Automobile 14,285 vehicles, and Chery Automobile 10,271 vehicles.

In February, the sales volume of new forces such as Ideal, Nezha, Weilai, Zero Run, and Weima performed better year-on-year and month-on-month, especially the month-on-month decline of Ideal and Nezha was smaller.

Among the mainstream joint venture brands, the wholesale volume of new energy vehicles in the north and south of Volkswagen reached 11,916, accounting for 58% of the mainstream joint venture wholesale volume, and Volkswagen's firm electrification transformation strategy has achieved initial results. Other joint ventures and luxury brands are still waiting to be strengthened.

The wholesale volume of ordinary hybrid passenger cars reached 558.88 million units in February, an increase of 116% year-on-year and a decrease of 20% month-on-month. Among them, Toyota reached 35,750 vehicles, Honda reached 16,225 vehicles, Dongfeng Nissan reached 1,389 vehicles, and GAC motor passenger cars reached 617 vehicles, and hybrid models have gradually become a new hot spot.

According to the analysis of the Association of Passenger Transporters, consumers are more willing to use private cars to travel in 2022, and the effect of the introduction of policies to stabilize the consumption of new energy vehicles has been significantly improved. In 2022, the scale of 5.5 million new energy passenger cars can be reached, which will also bring about a large increase in the overall automobile market in 2022 and bring about a stronger industrial transformation and upgrading.

Data journalism

The China Automobile Association announced the economic operation of the automobile industry in February

Vehicle sales from January to February were 4.268 million units

Yangcheng Evening News all-media reporter Qi Yaoqi

Recently, the China Automobile Association announced the economic operation of the automobile industry in February, and the data shows that from January to February 2022, the production and sales of the automotive industry remained stable overall, continuing to maintain growth year-on-year, and showing a 10% increase over the same period in 2019.

From the perspective of subdivided models, the production and sales of passenger cars have declined month-on-month, maintaining rapid growth year-on-year, and the production and sales of commercial vehicles have declined month-on-month and year-on-year, and the performance is still sluggish. The overall performance of new energy vehicles this month remained outstanding, declining month-on-month and maintaining rapid growth year-on-year. In addition, although automobile exports this month also showed a certain decline compared with the previous month, they still maintained a growth momentum year-on-year.

From January to February 2022, the overall domestic macroeconomic situation was stable, the production situation of enterprises was generally good, and the manufacturing PMI continued to operate smoothly in the expansion range. In addition, data provided by the National Bureau of Statistics show that in February, the production index and the new order index of the automotive industry were both higher than 54.0%, and the production and operation activity expectation index was in the high boom range of more than 60.0% for two consecutive months since January, higher than the average level of the manufacturing industry.

From January to February, the production and sales of the automotive industry remained stable overall, continuing to grow year-on-year, and showing a 10% increase over the same period in 2019. From the perspective of subdivided models, the production and sales of passenger cars have declined month-on-month, maintaining rapid growth year-on-year, and the production and sales of commercial vehicles have declined month-on-month and year-on-year, and the performance is still sluggish. The overall performance of new energy vehicles this month remained outstanding, declining month-on-month and maintaining rapid growth year-on-year. In addition, although automobile exports this month also showed a certain decline compared with the previous month, they still maintained a growth momentum year-on-year. Judging from the development trend of automobiles in the first quarter, with a series of larger tax reductions and fee reductions, policies to help enterprises solve difficulties continue to land, coupled with the start of large-scale infrastructure projects in various places since the first quarter, it will play an obvious role in promoting economic growth.

At the same time, auto companies are not new to accelerate the pace of new product listings, and it is expected that the auto market is expected to show a steady growth trend in the first quarter. It should also be noted that due to the current Conflict between Russia and Ukraine, the external environment of the industry is more complicated. In addition, factors such as chip shortage and rising raw material costs still have an impact on the production and operation of enterprises, and the task of ensuring supply and price stability is very arduous. To this end, the China Automobile Association recommends that enterprises pay attention to changes in the internal and external situation in a timely manner, actively plan, and continuously improve their ability to cultivate opportunities in the crisis and open a new situation in the changing situation.

Automobile production and sales increased steadily year-on-year. In February, production and sales totaled 1.813 million units, down 25.2% and 314% sequentially, up 20.6% and 18.7% year-on-year, respectively. Due to the impact of the Spring Festival holiday factors, the month-on-month decline was sharp, and the year-on-year growth was due to the positive promotion of new energy and automobile exports, and the second was the growth driven by the demand for inventory replenishment.

From January to February, production and sales totaled 4.235 million units, up 8.8% and 7.5% year-on-year, respectively, year-on-year. Production and sales of passenger cars grew rapidly year-on-year. In February, production and sales of passenger cars totaled 1.534 million units, down 26.1% and 32.0% month-on-month, up 32.0% y/y, and 27.8% y/y, respectively. From January to February, production and sales of passenger cars totaled 3.612 million units, up 17.6% y/y, and sales totaled 3.674 million units, up 14.4% y/y. From the cumulative data of subdivided models: the production and sales of cars increased by 15.8% and 12.8% respectively year-on-year; SUV production and sales increased by 20.7% and 16.4% year-on-year, respectively; MPV production decreased by 4.9% year-on-year, and the volume increased by 3.8% year-on-year, while the production and sales of crossover passenger cars increased by 39.5% and 35.2% respectively year-on-year.