Every reporter Miao Shiyu and every editor Sun Lei
On May 11, the latest data released by the China Association of Automobile Manufacturers (hereinafter referred to as the China Association of Automobile Manufacturers) showed that in April, domestic automobile production and sales declined month-on-month, showing rapid growth year-on-year. In April, domestic vehicle production and sales totaled 2.406 million units and 2.359 million units, down 10.5% m/m and 12.5% m/m and up 12.8% and 9.3% y/y, respectively.
In January ~ April, domestic automobile production and sales totaled 9.012 million units and 9.079 million units, up 7.9% and 10.2% y/y, respectively. It is worth noting that the current domestic automobile market is characterized by a greater export growth rate than domestic sales. According to the data, in 1~4 months, the domestic sales of automobiles were 7.252 million, a year-on-year increase of 5.6%; Vehicle exports totaled 1.827 million units, up 33.4% y/y, indicating that the domestic auto market needs to be further boosted.
Liu Zheng, director of the industry information department of the China Association of Automobile Manufacturers, said: "With the in-depth implementation of relevant policies, as well as the further increase in the pace of innovation of automobile manufacturers, and the continuous introduction of a large number of new models, will be conducive to further stimulate the consumption potential of the automobile market and expand the domestic market demand." ”
The market share of Chinese brand passenger cars exceeded 60% in April
According to data from the China Association of Automobile Manufacturers, domestic passenger car production and sales in April reached 2.048 million units and 2.001 million units, down 9% m/m and 10.5% m/m and up 15.2% and 10.5% y/y, respectively. In January ~ April, the total domestic passenger car production and sales reached 7.658 million units and 7.689 million units, up 8.6% and 10.6% y/y, respectively.
Image source: China Association of Automobile Manufacturers
According to April data, the market share of Chinese brand passenger cars exceeded 60%. In April, the sales volume of Chinese brand passenger cars was 1.272 million units, a year-on-year increase of 27.3%, and the market share increased by 8.4 percentage points year-on-year to 63.5%. Among the major foreign brands, the sales volume of the five major brands all decreased to varying degrees month-on-month; In terms of year-on-year growth, the sales of Korean brands showed double-digit growth, while the sales of the other four major brands decreased to varying degrees.
In January ~ April, the cumulative sales of Chinese brand passenger cars were 4.664 million, a year-on-year increase of 26.7%, accounting for more than 60%, and the market share was 60.7%, an increase of 7.7 percentage points year-on-year. Among the major foreign brands, compared with the same period last year, except for the Korean brand, the sales volume of the other four major brands decreased to varying degrees.
In April, commercial vehicle sales also showed a month-on-month decline and a year-on-year increase. In April, domestic commercial vehicle production and sales totaled 358,000 units and 357,000 units, down 18.3% m/m and 22% m/m and up 0.8% and 2.8% y/y, respectively. In January~April, domestic commercial vehicle production and sales totaled 1.354 million units and 1.39 million units, up 3.9% and 8.1% y/y, respectively.
Plug-in hybrid models increased by 108.5% year-on-year
From the perspective of vehicle power type, the performance of domestic new energy vehicles in April was more prominent. According to data from the China Association of Automobile Manufacturers, in April, the production and sales of new energy vehicles were 870,000 and 850,000 units, respectively, with production up 0.8% month-on-month, sales down 3.7% month-on-month, and 35.9% and 33.5% year-on-year respectively, with a market share of 36%.
Image source: China Association of Automobile Manufacturers
Among the main varieties of new energy vehicles, the sales of plug-in hybrid models have increased significantly. Plug-in hybrid vehicle production and sales in April were 334,000 units and 331,000 units, up 108.5% and 95.7% y/y, respectively. EV production and sales were 535,000 units and 519,000 units, up 11.6% and 11.1% y/y, respectively.
In January ~ April, the production and sales of new energy vehicles totaled 2.985 million and 2.94 million units, an increase of 30.3% and 32.3% year-on-year respectively, and the market share reached 32.4%. Among the main power types of new energy vehicles, the production and sales of pure electric, plug-in hybrid, and fuel cell vehicles all increased to varying degrees year-on-year.
In terms of exports, plug-in hybrid vehicles are also impressive. In January ~ April, 337,000 pure electric vehicles were exported, a year-on-year increase of 4.5%; Plug-in hybrid vehicle exports totaled 83,000 units, reflecting a 2.3-fold y/y increase. Among them, plug-in hybrid vehicle exports in April totaled 25,000 units, up 0.8% m/m and 1.7 times y/y, while BEV exports were 89,000 units, down 10.9% m/m and 2.4% y/y.
Image source: China Association of Automobile Manufacturers
It is worth noting that, judging from the overall data, the current domestic automobile market shows that the export growth rate is greater than that of domestic sales. In January ~ April, the domestic sales of automobiles were 7.252 million, a year-on-year increase of 5.6%; Vehicle exports totaled 1.827 million units, reflecting a 33.4% y/y increase. Among them, in April, the domestic sales of automobiles were 1.855 million units, a month-on-month decrease of 15.4% and a year-on-year increase of 4.1%; Vehicle exports totaled 504,000 units, reflecting a 0.4% m/m increase and a 34% y/y increase.
In this regard, Liu Zheng said that recently, the Ministry of Commerce, the Ministry of Finance and other 7 departments issued the "Implementation Rules for Car Trade-in Subsidy", clarifying the scope and standards of capital subsidies, coordinating the development of new energy vehicles and fuel vehicles, and the recent People's Bank of China and the State Financial Supervision and Administration jointly issued the "Notice on Adjusting Relevant Policies for Auto Loans", which will help further reduce the threshold for automobile consumption.