Analysis on economic operation of automobile industry in June 2020

Release time: July 10, 2020 source: China Automobile Industry Association

According to the statistical analysis of China Automobile Industry Association, in June 2020, automobile production and sales continued to pick up, and the production and sales volume of that month kept increasing month on month and year-on-year, among which the growth rate of commercial vehicles was more obvious.

1、 Overview of overall operation

In June 2020, the overall recovery of China's economic operation continued to improve, the supply and demand sides of the manufacturing industry continued to warm up, the consumer market continued to improve, and major infrastructure projects were accelerated.With the continuous promotion of automobile consumption policies, the overall market performance is better than expected.Automobile production and sales continued the warming trend and maintained a good development trend.

From the year-on-year production and sales, the automobile production and sales continued to show a double-digit growth.Passenger cars maintained a positive growth, SUV and cross type passenger cars continued to grow rapidly; driven by trucks, commercial vehicles continued to show a substantial growth, and sales volume once again set a new record. Four types of trucks continued to maintain rapid growth, among which the sales of light goods vehicles reached a new record.

From the perspective of industry development trend, the uncertainty of international epidemic situation still exists, overseas market demand has not recovered, and export-dependent enterprises have not extricated themselves from the predicament, which will affect part of consumer demand; at the same time, after the promotion of consumption policies in various regions gradually expired, market demand may also decline due to overdraft.Therefore, industrial enterprises should also focus on the changes in the domestic market and adjust the production and sales rhythm in time.

2、 Operation of automobile industry in June 2020

l  Automobile production and sales hit a record high in June

In June, the production and sales of automobiles were 2.235 million and 2.3 million respectively, up 6.3% and 4.8% month on month, and 22.5% and 11.6% respectively year-on-year.It is worth mentioning that this month's auto production and sales volume have all broken the record high in June.

From January to June, the production and sales of automobiles were 10.012 million and 10.257 million, respectively, down 16.8% and 16.9% year-on-year, and the decline rate continued to narrow, and the overall performance was better than expected.

l  The production and sales of passenger cars continued to grow

In June, the production and sales of passenger cars were 1.798 million and 1.764 million respectively, up 8.3% and 5.4% month on month, and 12.2% and 1.8% respectively year-on-year.Among them, the growth rate of output was further expanded compared with that of last month, while the growth rate of sales volume decreased by 5.2 percentage points.From the perspective of model segmentation, the sales volume of SUV has exceeded that of sedan in this month. From the perspective of sales growth, SUV and cross passenger vehicles continue to show double-digit growth year on year, but the growth rate is significantly reduced; sedan and MPV still show negative growth.

From the cumulative situation, from January to June, the production and sales of passenger cars were 7.754 million and 7.873 million, respectively, down 22.5% and 22.4% year on year.According to the data of subdivided models, the production and sales of passenger cars decreased by 25.9% and 26% respectively; the production and sales of SUV decreased by 14.6% and 14.9%; the production and sales of MPV decreased by 48.1% and 45.7%; the production and sales of cross type passenger cars decreased by 20.4% and 19.8% respectively.

l  Monthly sales of commercial vehicles hit a new record

In June, the production and sales of commercial vehicles were 527000 and 536000 respectively, with the output decreasing by 0.1% and the sales volume increasing by 3.1% on a month on month basis, with a year-on-year increase of 77.9% and 63.1% respectively.Among them, the sales volume reached a new record after April.From the perspective of subdivided models, passenger cars decreased slightly, and trucks showed a significant growth driven by four types of models, of which the sales of light goods vehicles reached a record high, and that of heavy goods vehicles hit a record high in June.

From January to June, the production and sales of commercial vehicles were 2.359 million and 2.384 million, respectively, with a year-on-year increase of 9.5% and 8.6%.In terms of production and sales of different models, the production and sales of passenger cars decreased by 9.6% and 12.4% respectively, while that of freight cars increased by 11.5% and 10.8% respectively.

l  The production and sales of pickup trucks have increased significantly

Since May, the year-on-year growth of pickup truck production and sales has turned from negative to positive, and the growth rate of that month has further expanded.In June, the production and sales of pickup trucks were 58000 and 57000, respectively, up 23.9% and 23.3% month on month, and 93.6% and 74.5% respectively year-on-year.

From January to June, the production and sales of pick-up trucks were 212000, down 7.0% and 7.5% respectively on a year-on-year basis. According to the fuel situation, the production and sales of gasoline vehicles were 57000 and 58000, respectively, with a year-on-year decrease of 18.4% and 15.4%; the production and sales of diesel vehicles were 153000, with a year-on-year decrease of 2.3% and 4.4%.

l  The production and sales of new energy vehicles decreased year on year

In June, the production and sales of new energy vehicles were 102000 and 104000, respectively, down 25.0% and 33.1% year-on-year.Among them, the production and sales of pure electric vehicles were 79000 and 82000, respectively, with a year-on-year decrease of 31.9% and 37.6%; the production and sales of plug-in hybrid electric vehicles were 23000 and 21000, of which the production increased by 17.0% year-on-year, and the sales volume decreased by 6.0%; the production and sales of fuel cell vehicles were 81, with a year-on-year decrease of 83.9% and 83.3%.

From January to June, the production and sales of new energy vehicles were 397000 and 393000, respectively, down 36.5% and 37.4% year-on-year.Among them, the production and sales of pure electric vehicles were 301 000 and 304 000 respectively, with a year-on-year decrease of 40.3% and 39.2%; the production and sales of plug-in hybrid electric vehicles were 95000 and 88000, with a year-on-year decrease of 20.0% and 29.8%; the production and sales of fuel cell vehicles were 390 and 403, respectively, with a year-on-year decrease of 66.5% and 63.4%.

The data shows that the production and sales of new energy vehicles show a recovery growth trend since March.

l  The market share of Chinese brand passenger cars decreased

In June 2020, a total of 590000 Chinese brand passenger cars were sold, a year-on-year decrease of 11.6%, accounting for 33.5% of the total sales of passenger cars, a decrease of 5% compared with the same period of last year.

From January to June, a total of 2.854 million passenger cars were sold in China, a year-on-year decrease of 29.0%, accounting for 36.3% of the total sales of passenger cars, a decrease of 3.4 percentage points over the same period of last year.

Although the market share of Chinese brands of passenger cars has declined, some brands, such as Hongqi and Changan, have risen against the trend. The sales volume of some of their models has increased significantly, and the overall sales growth rate of the brands is better than the average market level. In particular, the growth momentum of Hongqi brand is very obvious. According to the statistics of China Automobile Association, the cumulative sales volume of Hongqi brand exceeded 70000 vehicles (70045 vehicles) from January to JuneOver 110% (110.71%) year-on-year.It is believed that under the leadership of these enterprises, the upward development of Chinese brands will surely achieve success.