Vehicle Production and Sales in Q1, 2018

According to China Association of Automobile Manufacturers, the vehicle production was 7.022 million in Q1 of 2018, down 1.4% Y-O-Y. The sales volume was 7.183 million, up 2.8% Y-O-Y. The production and sales of new energy vehicles were 150 thousand and 143 thousand respectively, up 156.9% and 154.3% Y-O-Y.

Vehicle production and sales recovered in March.

The vehicle production and sales in March went up from last year, and the growth rates also picked up. The production and sales were 2.628 million and 2.656 million respectively. Those were up 54.1% and 54.7% M-O-M and up 1.2% and 4.7% Y-O-Y respectively. The growth rate of sales increased by 0.7% Y-O-Y.

In March, the production and sales of passenger cars were 2.199 million and 2.169 million respectively. Those were up 52.8% and 47% M-O-M and up 0.5% and 3.5% Y-O-Y respectively. The growth rates were 0.6% and 1.2% lower than those of vehicles. The commercial car market performed much better. The production and sales were 0.429 million and 0.488 million respectively. Those were up 61.2% and 101.5% M-O-M and up 4.6% and 10.5% Y-O-Y respectively. The growth rates were 3.4% and 5.8% higher than those of vehicles.

Both the production and sales of new energy vehicles were 68 thousand. Those were up 105% and 117.4% Y-O-Y respectively. Hereinto, the production and sales of pure electric vehicles were 51 thousand and 52 thousand respectively, up 91% and 105.9% Y-O-Y. Those of hybrid electric vehicles were 17 thousand and 16 thousand respectively, up 163% and 167.2% Y-O-Y.