Increase in auto market is lower than GDP growth rate

The auto market in July did not surprise the industry. According to the latest statistical data released by the China Association of Automobile Manufacturers, the production and sales of automobiles in July showed a deceleration in the chain, which increased slightly year-on-year, and the decline in the production and sales volume of commercial vehicles was significantly greater than that of passenger cars. From January to July, the cumulative production and sales of automobiles exceeded 10 million units, a year-on-year growth slower than the first half. Dong Yang, executive vice president and secretary general of the China Association of Automobile Manufacturers, said that the auto market was in a slow growth state in the previous July and the overall situation was fairly stable. It is a foregone conclusion that the auto market growth will be lower than the GDP growth rate in the whole year.

In July, the production and sales of automobiles reached 1,306,100 and 1,275,300, a decrease of 6.96% and 11.19% from the previous quarter and an increase of 1.26% and 2.18% respectively. From January to July, the cumulative production and sales of automobiles totaled 10,464,400 and 10,610,800, an increase of 2.33% and 3.22% respectively. Among them, the production and sales of passenger cars were 8,095,600 and 8,123,700, an increase of 5.42% and 5.89% year-on-year, and the sales and sales of commercial vehicles were 2,236,800 and 2,481,100, a year-on-year decrease of 7.00% and 4.68% respectively.

Passenger car, compared with the previous month, in addition to SUV in July except for varying degrees of decline, especially cross-selling passenger cars (micro-car) production and sales fell by 9.19% and 16.76%, a year-on-year decrease of 23.51% and 16.24% . The market share of passenger cars with 1.6 liters or less decreased, with sales of 657,200 vehicles, a decrease of 12.28% from the previous month and an increase of 6.24% over the same period.

The market share of self-owned brands of passenger cars continued to decline, and the Japanese share rebounded. In July, a total of 365,600 self-owned passenger car brands were sold, a month-on-month decrease of 18.14% and a year-on-year decrease of 3.21%, accounting for 36.13% of the total sales of passenger cars. The occupancy rate decreased by 4.13% from the previous period and decreased by 3.79 percentage points year-on-year. In July, Japanese, German, American, Korean, and French sales represented 23.16%, 18.12%, 11.51%, 8.33%, and 2.75% of the total sales of passenger cars. Compared with the previous month, Japanese passenger vehicles continued to show rapid growth, and the market share increased by 4.47 percentage points. The performance was more prominent, and the market share of self-owned branded passenger cars was the lowest in recent years.

From January to July, the top ten automobile manufacturers in terms of sales volume were: SAIC, Dongfeng, FAW, Chang'an, BAIC, GAC, Chery, JAC, Brilliance and Great Wall. In the first seven months, the above-mentioned ten companies sold a total of 9,205,400 vehicles, which accounted for 87% of the total sales of automobiles.

At the same time, the China Automotive Industry Association's second quarter auto industry climate index recently announced that due to macroeconomic policy controls, as well as the decline in production and sales of commercial vehicles, the automotive industry climate index continues to be in a downtrend channel, which was 101.1 points in the second quarter of this year. Compared with the first quarter, it decreased by 0.5 points and fell for four consecutive quarters.

The report shows that due to the drag of marketing indicators such as output, sales revenue, taxes, etc., the early warning index of the automotive industry has dropped significantly, and the industry has entered an adjustment stage. Among the six indicators that constitute the automotive industry's boom index, the two indicators of auto parts exports and auto industry employees have increased. The auto industry’s fixed asset investment, auto sales, auto industry taxation, and auto industry’s total profit are all different. The degree of decline.

China Automobile Association said that the increase in the economic efficiency of auto companies continued to fall in the first half of this year. Among the 17 key enterprises in the statistics, the industrial added value in the first half of the year totaled 220.402 billion yuan, a year-on-year increase of 4.09%, which was lower than the industrial increase of industrial enterprises above designated size in the country. The value growth rate was 10.21 percentage points; the total profit was 115.97 billion yuan, a year-on-year increase of 5.95%, an increase of 3.4 percentage points from the previous five months. Of the 17 key companies, 8 companies saw negative growth in profits. In addition to the slowdown in the growth rate of passenger vehicles, the decline in the sales volume of commercial vehicles has become a major cause of the decline in the auto industry index. Data show that in July, commercial vehicle production and sales were 255,700 units and 263,500 units, a decrease of 9.26% and 19.36% from the previous period and a decrease of 13.98% and 12.23% year-on-year. Among them, heavy-duty trucks are the most severe situation. In July this year, about 47,900 vehicles were sold, down 31.8% from the same period of last year.