In the first quarter, the production and sales of automobiles showed a remarkable increase in structural growth

On April 9th, China Automobile Association held a press conference on auto production and sales to announce that the auto market has begun to gradually recover due to the continuous impact of the country’s stimulus economic policies. In March, the production and sales of automobiles both exceeded 1 million, and both of them set a new record for monthly sales, and each model achieved a sequential increase.

The SAIC Automobile Production and Sales Statistics show that in March, the production of cars was 1,095,400 and sales were 1,109,800, an increase of 5.55% and 5.01% year-on-year respectively. In addition, all the models in March witnessed a higher growth year-on-year, with growth rates above 25%. Commercial vehicles also showed signs of recovery. Semi-trailer tractors have continued to grow for two consecutive months since February and non-integrated passenger vehicles have doubled since this month. Zhu Yiping, assistant secretary-general of the China Association of Automobile Manufacturers, believes that automobile production and sales in March hit a record high, mainly due to the dual role of policy factors and seasonal cycles.

Zhu Yiping analyzed that in March, it was traditionally the peak season for automobile production and sales (according to statistics, there were 7 months of car sales reaching a record high since 2005, including 5 high-innovation months in March) plus policy effects, resulting in a car production and sales reaching a New level. "Since the same period was a record high month, the high base, which is 5% year-on-year, is not very high, but in the current situation this number should be said to be a positive signal for this year's auto market and has special significance."

According to the data, in the first quarter, the domestic automobile production and sales were 2,567,600 and 2,668,800, and the output increased by 1.91% year-on-year, and the sales volume increased by 3.88% year-on-year. Zhu Yiping believes that under the continuous downturn in automobile production and sales in the third and fourth quarters of last year, it was difficult to achieve double-digit growth in automobile production and sales in the first quarter of this year, and the main factor for growth was the role of policies and the expectation that the economy will improve and promote the development of automobiles. Sales.

Zhu Yiping analyzed that passenger cars are better than commercial vehicles in terms of the growth of models. Passenger car sales increased by 7.81% in the first quarter, of which cross passenger cars increased by 34.78%. The month-on-month and consecutive year-on-year growth for the third consecutive month has become the main model for passenger car growth; the sedan has grown by 3.01%. One of the major growth models is also the low-emission car that is most affected by the policy. According to the statistics from the China Automobile Association, sales of passenger cars with 1.6 liters and below have reached 1,411,400 units, a year-on-year increase of 21.93%, which is higher than the average growth rate of the passenger vehicle industry by 14 percentage points, and the market share has reached 70.72%, compared with the same period of last year. 8.19 percentage points higher.

Compared with the sedan, in the first quarter, except for 11.22% growth in commercial trucks, all other models showed year-on-year declines, with semi-trailer truck sales falling by 70% year-on-year. Zhu Yiping believes that the expected improvement in the economy has resulted in the release of the potential purchasing power formed in the second half of last year, which is the main factor affecting the growth of trucks. However, the vehicle sales to the countryside have not yet formed effective pulls.

Zhu Yiping also pointed out that in the first quarter, the characteristics of structural growth of automobile production and sales are obvious. Although the overall production and sales show a low growth rate, the economic benefits of the industry have not improved. The economic benefits of the industry and the key indicators of the key enterprise groups have declined significantly in the first two months.

According to the statistics from China National Automobile Association, the main business income of auto enterprises above designated size from January to February was 320.413 billion yuan, a year-on-year decrease of 9.42%; total profit was 9.879 billion yuan, a year-on-year drop of 50%. The economic benefits of the 19 key enterprise groups of the China Automotive Industry Association (CAS) statistics for the period from January to February also illustrate this point, and the decline has exceeded the industry average.

In addition, car exports continued to fall sharply. According to the statistics of China Automobile Industry Corporation, the export of automobile manufacturers, the first quarter automobile exports 61,000, a year-on-year decrease of 62.06%, the export of the top five export companies have dropped significantly.

Zhu Yiping said that despite the favorable sales situation in March and the slight increase in the first quarter, it cannot be blindly optimistic. Affected by structural growth factors, the economic indicators of the automotive industry also showed a downward trend. Zhu Yiping hopes that the government will continue to introduce relevant policies to stimulate the sales of exports and commercial vehicles, which will prompt the industry to recover overall.

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