The auto market gradually stabilized in May, with sales reaching 1.926 million units, an increase of 59.7% month-on-month

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Image source @Visual China

Image source @Visual China

Titanium Media reported on June 10 that according to data released by the China Association of Automobile Manufacturers, in May 2022, the sales volume of the automobile industry is expected to reach 1.926 million units, a month-on-month increase of 59.7% and a year-on-year decrease of 5.7%; The sales volume was 9.618 million, a year-on-year decrease of 9.6%.

With the rebound of the epidemic in many places in China, the suspension of production of some automobiles and supporting factories in the supply chain, the rising prices of raw materials such as chips, steel, aluminum, batteries and other raw materials pushing up production costs, and the shrinking trend of consumer demand during the economic downturn, most automobile companies The month-on-month increase in sales in May not only showed signs of a recovery in the market, but also demonstrated the unique advantages and resilience of my country’s industrial chain.

In May, automobile production and sales reached 1.926 million and 1.862 million respectively, up 59.7% and 57.6% month-on-month, down 5.7% and 12.6% year-on-year, and the decline was 40.4 percentage points and 35.0 percentage points lower than the previous month. From January to May, the production and sales of automobiles were 9.618 million and 9.555 million, down 9.6% and 12.2% year-on-year.

In May, the production and sales of passenger cars were 1.701 million and 1.623 million, up 70.8% and 68.2% month-on-month, production increased by 5.2% year-on-year, and sales decreased by 1.4%. Among the main types of passenger vehicles, compared with the previous month, the production and sales of the four major types of passenger vehicles all showed rapid growth, among which the growth rate of basic passenger vehicles (sedans) was more significant; compared with the same period of the previous year, The production and sales of basic passenger vehicles (sedans) increased slightly, while the sales of sport utility vehicles (SUVs) decreased slightly, while the output increased.

From January to May, the production and sales of passenger vehicles were 8.196 million and 8.133 million, down 1.1% and 3.6% year-on-year, and the decline was narrower than that in January-April. Among the main types of passenger vehicles, compared with the same period of the previous year, the output of basic passenger vehicles (sedans) increased slightly, and the sales volume decreased slightly. The other three types of passenger vehicles decreased to varying degrees. Vehicles (MPV) saw a more pronounced decline.

In May, the production and sales of commercial vehicles reached 225,000 units and 239,000 units, a month-on-month increase of 7.2% and 10.4%, and a year-on-year decrease of 47.0% and 50.5%. Among the main varieties of commercial vehicles, compared with the previous month, the production and sales of trucks and passenger cars both increased, and the growth rate of passenger cars was more obvious; compared with the same period of the previous year, the production and sales of passenger cars and trucks still showed a rapid decline.

In May, among the sub-categories of trucks, compared with the previous month, the production and sales of minivans decreased, while the other three types of trucks increased to varying degrees; Fall fast. Among the sub-categories of passenger cars, compared with the previous month, the production and sales of the three major types of passenger vehicles increased;

From January to May, the production and sales of commercial vehicles were 1.422 million and 1.421 million, down 39.4% and 41.9% year-on-year. Among the main types of commercial vehicles, compared with the same period of the previous year, both the production and sales of passenger cars and trucks declined rapidly.

From January to May, among the main types of trucks, the production and sales of the four major types of trucks declined rapidly compared with the same period of the previous year. Among the main types of passenger cars, compared with the same period of the previous year, the decline in production and sales of large passenger cars was slightly lower, and both medium and light passenger cars showed a significant decline.

In May, the production and sales performance of new energy vehicles was also relatively good. The production and sales in the month reached 466,000 and 447,000 respectively, a month-on-month increase of 49.5% and 49.6%, a year-on-year increase of 1.1 times, and a market share of 24.0%. Among the main varieties of new energy vehicles, compared with the previous month, the production and sales of pure electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles all increased, among which the growth rate of pure electric vehicles was more obvious; compared with the same period of last year, The production and sales of the above three categories are all showing rapid growth, and the growth rate of fuel cell vehicles is still the most significant.

From January to May, the production and sales of new energy vehicles both exceeded 2 million, reaching 2.071 million and 2.003 million respectively, a year-on-year increase of 1.1 times, and a market share of 21.0%. Among the main varieties of new energy vehicles, compared with the same period of the previous year, the production and sales of pure electric vehicles, plug-in hybrid electric vehicles and fuel cell vehicles continued to maintain a rapid growth momentum.

From January to May, the top ten companies (groups) in automobile sales sold a total of 8.19 million vehicles, accounting for 85.7% of the total automobile sales. Among the top ten companies in auto sales, BYD ‘s sales growth was the most obvious compared with the same period of the previous year, GAC and Chery showed a slight increase, and other companies still showed a certain decline.

Automobile consumption accounts for a high proportion of total retail sales of social consumer goods, with large growth space and strong driving effect. It is a key area to expand domestic demand and stimulate consumption. At present, the number of automobiles in my country has reached 307 million, ranking first in the world, and automobile sales account for 10% of the total retail sales of social consumer goods.

Entering 2022, affected by the global epidemic, the world auto market is in a downturn. The overall sales in the first five months have declined, but China’s sales rebounded strongly around the Spring Festival. Shanghai, an important market for mid-to-high-end vehicles, fell in March and April. In the case of approaching 0, China’s share of the world’s automobiles still reached 31% from January to April. The impact of negative factors such as chip and raw material prices on China’s auto market is not obvious. Timely replenishment after out of stock drives China’s auto market to perform well on a global scale. It is expected that entering June, the demand for car purchases suppressed by the epidemic will be further released, and the market demand will continue to increase.

According to the calculation of the agency, every 1 yuan of value added in the automobile manufacturing industry can drive the value-added of upstream and downstream related industries by 2.64 yuan, which is indispensable to the stability of the macroeconomic market. According to the previous estimates of the Association of Passenger Transport Associations, the policy is expected to boost the retail sales of automobiles by 13 percentage points, which will positively boost the growth rate of total retail sales of consumer goods by about 1.3 percentage points; An increase of 10 percentage points will positively boost the growth rate of the overall industrial added value by about 0.3 percentage points.

Data source: China Association of Automobile Manufacturers

This article was first published on Titanium Media APP, edited | Wang Zhenchao

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