A Brief Analysis of the Operation of China's Automobile Industry in the First Half of 2016

In June 2016, the automobile production and sales volume decreased slightly from the previous month. Compared with the same period of last year, the production and sales volume continued to grow, and the growth rate reached over 10%. In the first half of the year, automobile production and sales increased 6.5% and 8.1% respectively from the same period of last year, which was 3.9 and 6.7 percentage points higher than the same period of last year.

Vehicle sales in January and June increased by 14.6% year-on-year

According to the statistics of China Association of Automobile Manufacturers, the national automobile production and sales in June were 2.049 million and 2.071 million, respectively, and the production and sales decreased by 0.8% and 1.0% respectively, which was a year-on-year increase of 10.5% and 14.6%, respectively.

From January to June, the production and sales of automobiles were 12.829 million vehicles and 12.835 million vehicles, an increase of 6.5% and 8.1% year-on-year, respectively, an increase of 3.9 percentage points and 6.7 percentage points over the same period of last year.

June passenger car sales increased by 17.7% year-on-year

In June, 1.727 million passenger cars were produced, a month-on-month increase of 0.01% and an increase of 11.4% year-on-year; sales of 1.784 million were down 0.5% month-on-month and 17.7% year-on-year. Among them, 925,000 were sedans, an increase of 8.9% year-on-year; SUV sales were 632,000, an increase of 40.8% year-on-year; MPV sales were 177,000, an increase of 35.2% year-on-year; inter-vehicle passenger car sales were 56,000, a year-on-year decrease of 38.2%.

In the first half of the year, the production and sales of passenger cars increased by 7.3% and 9.2% year-on-year, respectively, and the growth rate was 0.7% and 1.4% higher than the previous month. In terms of sales and sales of passenger car four models, production and sales of cars decreased 5.5% and 3.9% respectively over the same period of the previous year; SUV production and sales continued to maintain rapid growth, with 42.7% and 44.3%, respectively; MPV production and sales growth were 12.3% and 18.1 respectively. %; production and sales of cross passenger cars decreased by 33.9% and 32.6% respectively.

1.6L and below passenger cars continue to grow

According to the statistics of China Association of Automobile Manufacturers, in June, sales of passenger vehicles with 1.6 liters and below were 1.292 million, an increase of 30.3% over the same period of last year, which was higher than the overall growth rate of passenger vehicles by 12.6 percentage points. The 1.6-liter passenger vehicle or less accounted for 72.4% of the passenger vehicle sales.

In the first half of the year, passenger car sales of 1.6 liters and below were 7.966 million vehicles, an increase of 14.2% over the same period, which was 5 percentage points higher than the overall growth rate of passenger vehicles. In June, passenger cars with 1.6 liters or less accounted for 72.4% of the sales volume of passenger vehicles.

China brand passenger car market share higher than the same period

According to statistics from China Association of Automobile Manufacturers, in June, a total of 717,000 Chinese branded passenger vehicles were sold, an increase of 24.7% year-on-year, accounting for 40.2% of the total passenger vehicle sales, and the occupancy rate increased by 0.2% from the previous month.

In the first half of the year, a total of 4.735 million Chinese branded passenger vehicles were sold, an increase of 12.8% compared to the same period of the previous year, accounting for 42.9% of the total passenger vehicle sales, and the occupancy rate increased by 1.4 percentage points over the same period of the previous year; of which sales of cars were 105.5. 10,000 vehicles, a decrease of 15.5% compared with the same period of last year, a market share of 19.0%, a decrease of 2.6 percentage points from the same period of last year; SUV sales volume was 2.171 million units, an increase of 52.3% over the same period of last year, and the market share was 56.4%. The year-on-year increase of 3.0 percentage points; MPV sales of 1.085 million vehicles, an increase of 21.2% over the same period of last year, the market share of 90.4%, an increase of 2.3 percentage points over the previous year.

Commercial Vehicle Sales Declined 1.7% YoY in June

In June, commercial vehicles produced 277,000 units, an increase of 5.0% year-on-year; sales of 287,000 units, a year-on-year decrease of 1.7%.

In the first half of the year, the production and sales of commercial vehicles increased by 1.5% and 1.9% respectively year-on-year. According to the production and sales of different models, the production and sales of passenger cars decreased by 9.4% and 9.5% respectively over the same period of last year; the production and sales of trucks increased by 3.6% and 4.0% respectively over the same period of last year.

2. The rapid growth of new energy vehicles

According to statistics from China Association of Automobile Manufacturers, in June, new energy vehicles produced 45,000 vehicles and sold 44,000 vehicles, up 107.4% and 107.3% respectively year-on-year. Among them, the production and sales of pure electric vehicles completed 35,000 and 34,000 vehicles, respectively, an increase of 126.1% and 126.6% year-on-year respectively; and the production and sales of plug-in hybrid vehicles each completed 10,000 vehicles, an increase of 61.3% and 61.8% year-on-year respectively.

From January to June, 177,000 new energy vehicles were produced and 170,000 vehicles were sold, an increase of 125.0% and 126.9% respectively over the same period of the previous year. Of which, the production and sales of pure electric vehicles were completed by 134,000 and 126,000 vehicles, respectively, an increase of 160.8% and 161.6% over the same period of the previous year; the production and sales of plug-in hybrid vehicles were completed by 43,000 vehicles and 44,000 vehicles, respectively, an increase over the same period of the previous year. 57.1% and 64.2%.

3. Good economic benefits of key enterprises (groups)

According to the statistics of the China Automobile Industry Association, the operating income, profits and taxes of the key enterprises (groups) in the industry are all higher than the same period of last year. From January to May, the key enterprises (groups) of the automotive industry realized a cumulative operating income of 1,372.82 billion yuan, an increase of 8.2% over the same period of the previous year. The accumulated total profits and taxes amounted to 238.44 billion yuan, an increase of 1.4% over the same period of last year.

4, cumulative exports continued to decline

According to customs statistics, in May 2016, a total of 87,000 vehicles were imported, representing an increase of 5.7% over the same period of the previous year; the number of auto vehicle exports was 73,000, an increase of 2.5% over the same period of the previous year.

From January to May, the number of auto vehicles imported was 381,000, a decrease of 12.7% from the same period of the previous year, and exports were 285,000, a decrease of 14.8% from the same period of the previous year.

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