Automobile Industry Performance in July 2019

According to the statistical analysis of the China Association of Automobile Manufacturers, in July 2019, automobile production and sales both fell M-O-M, and the Y-O-Y decline was narrowed. In July, it was the traditional off-season for automobile sales. Only SUVs and buses showed an increase Y-O-Y. In addition, due to the end of the transition period of new energy subsidies last month, the sales of new energy passenger vehicles dropped sharply.

From the production and sales situation in January-July, the overall production and sales of automobiles are still at a low level. With the continuous increase of the GB VI vehicle type, promotion efforts will be reduced, and consumers’ wait-and-see sentiment is expected to improve. The specific analysis is as follows:

(1) Automobile sales decline continues to narrow

In July, the Y-O-Y decline in automobile production and sales continued to narrow. The production and sales reached 1.8 million and 1.808 million respectively, down 5% and 12.1% M-O-M respectively, down 11.9% and 4.3% Y-O-Y respectively.

From January to July, the production and sales of automobiles were 13.393 million and 14.132 million respectively. The production and sales volume decreased by 13.5% and 11.4% Y-O-Y respectively. The decline in production and sales was 0.2% and 1% lower than that in January-June.

(2) Passenger car production and sales decline was less than those of the overall automobile

In July, the production and sales of passenger cars were 1.523 million and 1.528 million, respectively, down 4.7% and 11.6% M-O-M, down 11.7% and 3.9% Y-O-Y. The decline in production and sales was slightly smaller than that of the overall automobile.

From January to July, the production and sales of passenger cars were 11.501 million and 11.654 million respectively, decreasing by 15.3% and 12.8% Y-O-Y respectively. Production and sales of four types of passenger cars: Car production and sales decreased by 13.4% and 12.4% Y-O-Y respectively. SUV production and sales decreased by 16.2% and 11.1% Y-O-Y respectively. MPV production and sales decreased by 24.7% and 23.5% Y-O-Y respectively. Cross passenger car production and sales decreased by 9.8% and 16.5% Y-O-Y respectively.

(3) Commercial vehicle production and sales decreased Y-O-Y

In July, the production and sales of the commercial vehicle were 0.277 million and 0.281 million respectively, down 6.4% and 14.6% M-O-M, down 12.7% and 6.4% Y-O-Y respectively. The production and sales of the heavy truck were 66,000 and 76,000 respectively, and the production was down 19% Y-O-Y, but the sales increased by 1.5% Y-O-Y.

From January to July, the production and sales of commercial vehicles were 2.432 million and 2.477 million respectively, decreasing by 3.5% and 4.4% Y-O-Y respectively. Specifically, the production and sales of commercial passenger cars were 248,000 and 249,000 respectively, down 7% and 3.9% Y-O-Y respectively. The production and sales of commercial trucks were 2.184 million and 2.228 million respectively, down 3.1% and 4.4% Y-O-Y. Hereinto, heavy truck production and sales were respectively 698,000 and 732,000, dropping by 2% and 1.9% Y-O-Y respectively.

(4) New energy vehicles production and sales fell Y-O-Y

In July, the production and sales of new energy vehicles were 84,000 and 80,000 respectively, down 6.9% and 4.7% Y-O-Y. Among them, battery electric vehicle production was 65,000, down 4.8% Y-O-Y, and the sales reached 61,000, an increase of 1.6% Y-O-Y. Plug-in hybrid electric vehicles production and sales were 20,000 and 19,000 respectively, declining by 13.2% and 20.6% respectively.

From January to July, the production and sales of new energy vehicles reached 701,000 and 699,000 respectively, an increase of 39.1% and 40.9% Y-O-Y. Among them, the production and sales of battery electric vehicles were 558,000 and 551,000, up 46.3% and 47.8% Y-O-Y; the production and sales of plug-in hybrid electric vehicles were 141,000 and 146,000 respectively, up 15.6% and 18.9% Y-O-Y; the production and sales of fuel cell electric vehicles were 1,176 and 1,106 respectively, an increase of 8.8 times and 10.1 times from last year.

(5) Market share of Chinese brand passenger cars declined

In July 2019, Chinese brand passenger cars sales totaled 553,000, down 13.3% Y-O-Y, accounting for 36.2% of total passenger car sales, down 3.9% Y-O-Y. Among them: Chinese brand cars sales were 135,000, a Y-O-Y decline of 16.2%, accounting for 18.3% of total car sales. Chinese brand SUV sales of 327,000 were down 10.6% Y-O-Y, accounting for 48.6% of total SUV sales. The sales of Chinese brand MPV was 59,000, down 21.7% Y-O-Y, accounting for 69.1% of the total MPV sales.

From January to July, Chinese brand passenger cars sales totaled 4.551 million, down 20.8% Y-O-Y, accounting for 39.1% of total passenger car sales. Among them: 1.136 million Chinese brand cars were sold, a Y-O-Y decline of 16.2%, accounting for 19.9% ??of total car sales. Chinese brand SUV sales of 2.261 million were down 21.9% Y-O-Y, accounting for 52.7% of total SUV sales. The sales of Chinese brand MPV was 568,000, down 25.5% Y-O-Y, accounting for 75.1% of the total MPV sales.

(6) Automobile exports decline has extended

In July, the decline in automobile exports expanded. This month, automobile companies exported 81,000, down 15.5% M-O-M and down 14% Y-O-Y. 60,000 passenger cars were, down 12.5% M-O-M and down 12.9% Y-O-Y. 21,000 commercial vehicles exported, down 23.1% M-O-M and down 17% Y-O-Y.

From January to July, automobile companies exported 590,000, down 6.3% Y-O-Y. Passenger cars exports were 388,000, and commercial vehicles exports were 180,000.





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