With the intensive listing of new cars at the Beijing auto show, the implementation of trade-in subsidies, and the successive holding of local auto shows during May Day, consumers’ wait-and-see mood has finally improved.
Take the weekly retail of the passenger Association as an example, even in the middle and early ten days, the average daily sales reached more than 40,000 vehicles in May.
The China Automobile Association’s inventory warning index for car dealers also showed that it fell to a low of 58.
2% this year in May, down slightly from 58.
3% in March.
According to data released by the Federation of passengers on June 11, retail sales of narrow passenger cars in China in May were 1.
71 million, the second highest performance of the year, down from 2.
035 million in January.
However, with sales of 1.
742 million vehicles in the same period last year, the retail market fell again in May from a year earlier, down 1.
9 per cent.
On the wholesale side, as passenger car exports fell back to 378000, far less than the previous 400000, wholesale sales in May were 2.
031 million, a year-on-year increase of 1.2%. Judging from the overall trend in the first five months of this year, the cumulative year-on-year growth rate of retail sales has further narrowed to 5.
7% due to negative growth in February, April and May.
wholesale sales only fell in February compared with the same period last year, but affected by the high contrast base, the cumulative year-on-year growth rate narrowed to 8.
5% for the first time this year.
It can be seen that under the favorable stimulation of the listing of a large number of new cars, price concessions for car companies and dealers, and the trade-in policy, the wait-and-see mood of domestic consumers has significantly improved this year, and sales have also picked up somewhat.
It is just affected by the relatively high contrast base, and the growth pressure on the car market is still greater.
Guangfeng Nissan re-entered the top 10, May overall passenger car sales can continue to maintain an upward trend, still mainly rely on the independent camp.
Despite the continuous decline in the car market compared with the same period last year, statistics show that sales of independent car companies have maintained a trend of growth.
Take retail sales as an example.
Retail sales of own brands in May were 980000 vehicles, which continued to grow by 12% compared with the same period last year, and the market share rose to 57.
6%, setting another all-time high.
At the same time, mainstream joint venture retail sales fell 21 per cent year-on-year to 490000 vehicles, with German, Japanese and American market share falling to varying degrees.
Therefore, in the list of the top 10 retail automakers, we can see that there are six joint ventures and only Tesla China achieved year-on-year growth.
FAW-Volkswagen, SAIC-Volkswagen, Guangzhou Auto Toyota, Dongfeng Nissan and brilliance BMW were all negative year-on-year, and the year-on-year decreases of the first three were all more than 10%, of which FAW-Volkswagen fell by 17.5%. Thanks to the continuous efforts of independent car companies such as BYD, Chery, Geely and Changan in overseas markets, independent wholesale sales also remained at a high level of 64% in May, and once again monopolized the top four seats in the top 10 wholesale lists.
and BYD, Chery and Geely grew by nearly 40% year-on-year, far exceeding the overall market.
As for the joint venture camp, only Dongfeng Nissan, the last of the five carmakers, grew 1.
2 per cent year-on-year.
With regard to the list of the top 10 automakers in May, it is also worth noting that two Japanese automakers, Guangzhou Auto Toyota and Dongfeng Nissan, appeared on the wholesale list at the same time in May.
The former was on the list for the first time this year, while the latter returned after January.
It is also the first time this year that both have a place in both retail and wholesale lists.
By comparing the earlier wholesale data we found that the sales of Guangzhou Automobile Toyota and Dongfeng Nissan did rebound significantly in May compared with the previous month.
Year-on-year sales of Guangzhou Automobile Toyota still decreased sharply and Dongfeng Nissan was only roughly flat.
That being the case, why are both of them on the list again? In fact, this is most likely due to previous carmakers such as Dongfeng Honda, SAIC General Motors Wuling, brilliance BMW and SAIC passenger cars, which had a poor performance in May.
Of course, it also shows that compared with the above-mentioned car companies, the performance of Guangzhou Auto Toyota and Dongfeng Nissan is relatively stable in order to seize the opportunity to return to the top 10.
The retail penetration rate of new energy reached a new high of 47%, and from the perspective of market segments, although retail and wholesale sales in the overall passenger car market were not very bright in May, the new energy sector was excellent.
Specifically, retail sales of new energy rose 38.
5% to 804000 vehicles in May from a year earlier, and wholesale sales also increased by 32.
1% to 897000 vehicles, roughly the same as the performance in impulse in the fourth quarter of last year.
This made the penetration of new energy both hit record highs in May, with retail penetration rising to 47 per cent, the first time the market penetration exceeded 45 per cent and wholesale climbing to 44.
2 per cent.
The retail penetration rate of new energy can approach 50% in May.
In addition to the advantages of relatively low cost, tax-free purchase, license plate advantage and road right advantage of new energy vehicles, there is another major factor in May.
That is, entry-level models such as mini electric vehicles with a range of less than 200 kilometers from June 1 will no longer enjoy purchase tax relief.
This means that consumers who buy models such as Wuling Hongguang MINIEV Chery QQ ice cream and Geely Panda mini in June all have to pay a certain percentage of purchase tax.
Take the Hongguang MINIEV, which starts at 32800 yuan, for example, consumers have to pay a purchase tax of about 2900 yuan for even the cheapest models.
Even though, in response to the change in policy, some car companies and dealers have announced that they will offer time-limited purchase tax concessions so that consumers do not have to bear the problem of price increases caused by the purchase tax, but this will certainly prompt a large number of potential consumers to place orders in advance.
Therefore, after maintaining a growth rate of about 10% for several consecutive months, we can see that retail sales of pure electricity suddenly expanded to 27.
4% in May from a year earlier, reaching 495000 vehicles, an increase of nearly 90,000 vehicles compared with April.
This should also be one of the important reasons for the sharp increase of 38.
5% in new energy in May.
In terms of the traditional three major car body segments, when the domestic retail car market continued to decline, car and MPV sales continued to grow negatively in May, except that the decline of the former narrowed from the previous month, while the latter further accelerated the decline.
This may be because with the influx of more and more large and medium-sized SUV especially the emergence of add-on SUV which greatly increases the choice of consumers and the competitiveness of traditional MPV products is gradually weakened.
Meanwhile, retail sales of SUV still rose 6.
3 per cent in May.
In the first five months of this year, the cumulative retail and wholesale sales of cars have narrowed to 0.
9% and 2.
7% respectively from the same period last year, and then continue to decline, which is very likely to turn negative for the whole year.
As long as there is no sharp decline in SUV, it should be able to maintain positive growth throughout the year.
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