Auto Association of February Sales Interpretation: Production and Sales Still Sluggish Passenger Cars Falling 17.35% Year-on-Year

Affected by the Spring Festival holiday factors, in February, China's car market production and sales downturn situation still has not been alleviated! China's auto production and sales reached 1.4098 million vehicles and 1.4816 million vehicles in February 2019, down 17.37 percent and 13.77 percent year-on-year, respectively, according to statistics released by the China Association of Automobile Manufacturers (CAAM) in February 2019. From January to February, the cumulative production and sales of automobiles were 3,776,500 and 3,851,500 respectively, down 14.08% and 14.94% year-on-year. Source: China Association of Enterprises Passenger Car Production and Sales in February were 1.1403 million and 1.2195 million respectively, down 20.77% and 17.35% year-on-year. Compared with the previous month, the production and sales of the four major types of passenger vehicles decreased significantly. Compared with the same period of last year, the output of cross-type passenger cars decreased slightly, and the production and sales of other varieties decreased rapidly. Compared with the expanding passenger vehicle market, the sales volume of commercial vehicles has improved slightly. Data show that in February, the sales volume of commercial vehicles in China was 262,100, up 8.02% year-on-year. Of which, sales of passenger cars completed 19,000, a slight increase of 0.1% year-on-year; Sales of trucks reached 243,000 units, up 8.7% year-on-year. Source: China Enterprise Association although the overall downturn in the domestic car market, but the new energy vehicle market still shows a good momentum of growth. In February, the production and sales of new-energy vehicles reached 59,200 and 52,900 vehicles, up 50.88 percent and 53.60 percent respectively over the same period of last year. Among them, the production and sales of pure electric vehicles reached 43,700 and 39,700 respectively, up by 51.34% and 69.37% respectively over the same period of last year. Production and sales of plug-in hybrid electric vehicles reached 15,400 and 13,300 respectively, up 48.24% and 18.64% respectively over the same period of last year. From January to February, the production and sales of new energy vehicles reached 15,100 and 148,500, up 83.47 percent and 98.93 percent respectively over the same period of last year. Among them, the production and sales of pure electric vehicles reached 110,900 and 114,500 respectively, up by 95.69% and 127.93% respectively over the same period of last year. Production and sales of plug-in hybrid electric vehicles reached 39,900 and 33,800 respectively, up 55.19% and 38.51% respectively over the same period of last year. Autonomous Passenger Vehicle Market Shrinkage Top Ten Automobile Enterprises Seven Downward Sources: The continued downturn in the car market of the China Association of Enterprises has quietly changed the market share of the major factions in the country. From January to February 2019, the market share of Chinese brands of passenger cars, American brands and French brands shrank compared with the same period last year. However, the market share of German and Japanese brands has further expanded, with the share of Japanese brands in the domestic market rising from 16.7% in the same period last year to 20% this year, and that of German brands rising from 21.5% to 23.2%. The shrinkage of the Chinese brand passenger car market share is related to the weak growth of some brands. This year In February, 1.2195 million passenger cars were sold, down 39.66 percent from the previous month and 17.35 percent from the same month last year. From January to February, a total of 3.2432 million vehicles were sold, down 17.51% year-on-year, representing a decrease of 2.97 percentage points compared with the same period of last year. Among the top 10 Chinese brand passenger car conglomerates, SAIC, Geely, Chang'an, Dongfeng and Guangzhou Automobiles showed declines to varying degrees, with SAIC, Dongfeng and BAIC showing particularly marked declines. Only the Great Wall, BYD, Chery three car companies to maintain a small rise. Overall, affected by the long Spring Festival holiday, the production and sales of automobiles decreased rapidly in February 2019, and the decline of passenger vehicles was more obvious. Compared with the same period of last year, the production and sales of commercial vehicles increased slightly, while passenger vehicles decreased. From January to February, the production and sales of automobiles continued the downward trend, with passenger cars declining more than the industry, while the production and sales of commercial vehicles increased slightly. According to the forecasts of many organizations, under the joint action of the national automobile consumption promotion policy and the gradual implementation of the sixth grade, the automobile market in China will have a sales pattern of "low before and high after". Automobile enterprises and dealers should stabilize confidence, jointly respond to the current decline in sales, improve their own soft and hard power, and strive for more market share when the subsequent auto market stabilizes and rebounds.