Analysis on the economic operation of automobile industry in May 2020           

Release time: June 11, 2020 source: China Association of Automobile Manufacturers         

According to the statistics and analysis of China Automobile Industry Association, in May 2020, the automobile production and sales situation continued to improve, with a month on month growth rate, which was significantly higher than that of last month.           

1、    Overview of overall operation           

In May 2020, the domestic anti epidemic situation continued to improve. Enterprises accelerated the resumption of work and production, and made steady progress in employment. At the same time, driven by a series of favorable policies of the central and local governments, consumer confidence was improved, some consumers' pent up demand was released, and the automobile market gradually recovered.           

From the year-on-year perspective, the automobile production and sales in that month showed double-digit growth. The growth rate of production and sales of passenger vehicles has changed from negative to positive, in which SUV production and sales continue to maintain a positive growth, cross type passenger vehicles driven by employment show a significant growth; commercial vehicles continue to show a significant growth driven by trucks, four types of trucks are growing rapidly, among which heavy trucks and light trucks have both set a new record of sales in May.           

From the perspective of industry development, although the situation of domestic epidemic prevention and control is getting better, the recovery of domestic macro-economy still needs a process. With the uncertainty of international epidemic situation, the demand of overseas market has not recovered, and the export dependent enterprises are still not out of the dilemma, which will lead to the recovery process of domestic consumption demand lagging behind. Therefore, the industry should focus on the recovery process of the domestic market, as well as the impact of changes in the situation of overseas epidemic prevention and control on the domestic automobile industry.           

2、 Operation of automobile industry in May 2020:          

1. Automobile production and sales keep growing           

In May, the production and sales of automobiles were 2.187 million and 2.194 million respectively, up 4% and 5.9% on a month on month basis, up 18.2% and 14.5% on a year-on-year basis, up 15.9 and 10.1 percentage points on a month on month basis.           

From January to may, 7.787 million and 7.957 million vehicles were produced and sold respectively, with the production and sales volume down 24.1% and 22.6% year on year respectively.            2. The growth rate of production and sales of passenger vehicles changes from negative to positive            In May, the production and sales of passenger vehicles completed 1.66 million and 1.674 million respectively, up 4.5% and 8.9% on a month on month basis, up 11.2% and 7.0% on a year-on-year basis, and the growth rate has changed from negative to positive. From January to may, the production and sales of passenger vehicles completed 5.955 million and 6.109 million respectively, down 29.1% and 27.4% year on year.           

According to the sales volume of different models in the current month, the production and sales of SUVs and cross type passenger vehicles have increased significantly, especially the cross type passenger vehicles, with a year-on-year growth of 47%. In other models, the car slightly drops and MPV drops.           

From the cumulative sales of different models, due to the impact of the early epidemic, four types of models still show a decline, including SUV down 20.2% year-on-year; sedan down 30.4%; MPV down 51.5% year-on-year; cross type passenger vehicles down 27.5% year-on-year.           

3. Commercial vehicle growth in a month on year basis           

In May, the production and sales of commercial vehicles were 527000 and 520000 respectively, with the output increasing by 2.5% on a month on month basis and the sales decreasing by 2.6% on a month on month basis; they increased by 47.7% and 48.0% on a year-on-year basis respectively.           

This month, the sales volume of heavy trucks reached 179000, a year-on-year increase of 65.6%, and the sales volume of light trucks reached 215000, a year-on-year increase of 43.4%. The sales volume of both types of vehicles set a new record in May.           

From January to may, the production and sales of commercial vehicles completed 1.832 million and 1.848 million respectively, down 1.4% and 1.0% year on year. According to the production and sales of different models, the production and sales of passenger cars decreased by 11.1% and 15.2% respectively; the production of freight cars decreased by 0.4% and the sales increased by 0.4% year on year.           

4. New energy vehicles continue to decline year on year           

In May, the production and sales of new energy vehicles were 84000 and 82000 respectively, down 25.8% and 23.5% year on year. Among them, the production and sales of pure electric vehicles completed 63000 and 64000 respectively, down 33.8% and 25.1% year-on-year; the production and sales of plug-in hybrid vehicles completed 21000 and 18000 respectively, of which the production and sales increased 17.1% year-on-year, down 16.1% year-on-year; the production and sales of fuel cell vehicles completed 17 and 42 respectively, down 94.6% and 86.7% year-on-year.           

From January to may, the production and sales of new energy vehicles completed 295000 and 289000 respectively, down 39.7% and 38.7% year on year. Among them, the production and sales of pure electric vehicles have all completed 222000, down 42.8% and 39.8% year-on-year respectively; the production and sales of plug-in hybrid vehicles have completed 72000 and 67000, down 27.5% and 35.0% year-on-year respectively; the production and sales of fuel cell vehicles have completed 309 and 322, down 44.1% and 40.9% year-on-year respectively.           

5. Market share of China's brand passenger vehicles continues to decline           

In May 2020, China's brand passenger vehicles sold a total of 571000, an increase of 0.4% year-on-year, accounting for 34.1% of the total passenger vehicle sales, down 2.2 percentage points from the same period last year.           

From January to may, the total sales of China's brand passenger vehicles was 2264000, down 32.5% year on year, accounting for 37.1% of the total sales of passenger vehicles, down 2.8 percentage points from the same period last year.           

6. The market concentration of key enterprise groups is higher than that of the same period            

From January to may, the sales volume of the top ten automobile sales enterprises totaled 7.089 million, a year-on-year decrease of 22.1%, 0.5 percentage points lower than that of the industry. It accounted for 89.1% of the total automobile sales, 0.6 percentage points higher than the same period of last year.           

7. Automobile export decreased significantly year on year           

In May, automobile enterprises exported 49000 vehicles, down 30.3% month on month, down 37.4% year on year. In terms of models, passenger cars exported 35000 vehicles this month, down 35.5% month on month, down 36.2% year on year; commercial cars exported 14000 vehicles, down 11.5% month on month, down 40.2% year on year.           

From January to may, automobile enterprises exported 323000 vehicles, down 17.5% year on year. In terms of vehicle types, the export of passenger vehicles is 244000, down from the same period last year