The highly-anticipated January auto market statistics revealed yesterday that the auto market has been “warmed†by several favorable factors. With the sales volume of 735,500 units for the month, China replaced the United States for the first time (65.7 million units) to become the world's largest auto market.
Commercial vehicle production and sales are cyclical
According to statistics released by the China Association of Automobile Manufacturers (hereinafter referred to as “China Automobile Associationâ€), in January, the sales of automobile in the Mainland were 735,500, a decrease of 0.83% from the previous month and a decrease of 14.35% from the same period of last year. China Automobile Association admits that the overall macroeconomic environment has not been significantly changed, and the overall production and sales of automobiles have continued the downward trend in the fourth quarter of last year, among which the sales situation of commercial vehicles is more severe.
The production and sales of commercial vehicles are cyclical, and they are also positively related to the investment in fixed assets. Last month, the production and sales of commercial vehicles were respectively 132,200 and 125,100, which was a decrease of 4.40% and 20.35% respectively from last December, and they all dropped by nearly 40% year-on-year. Among the various types of commercial vehicles, only the production of trucks showed a certain increase, and the production and sales of other varieties all decreased significantly.
Among the key enterprises included in the statistics, SAIC, FAW, Chang'an, Dongfeng, BAIC, GAC, Chery, Geely, Brilliance and Hafei Motors ranked top 10 in sales. Compared with last month, the growth rate of the top three companies is the most obvious. Compared with the same period of last year, GAC and Brilliance grew slightly.
Passenger cars appear signs of warming
The China Automobile Association said that under the stimulation of the government’s promulgation of halving the purchase tax of 1.6 liters and below, the passenger car market showed signs of recovery. First, the crossover passenger car market showed explosive growth. The demand for self-owned brand cars has obviously risen.
Last month, passenger cars sold a total of 616,600 units, which represented a decrease of 7.76% from the same period of last year but an increase of 4.44% from last December.
In terms of sales rankings, trolleys that are halved in purchase tax are the most popular. The top ten brands followed were Excelle, Elantra, QQ, Elantra, Jetta, F3, Santana, Corolla, Accord and Camry. The total sales volume was 121,600, accounting for nearly 30% of the total sales of cars.
Enterprise inventory is also released. Monthly inventory in January hit a new 13-month low, with passenger car inventory dropping by more than 80,000 vehicles compared to December last year.
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