According to the latest production and sales data of the China Automobile Association, in September this year, domestic automobile production and sales completed 2.
796 million and 2.
809 million respectively, an increase of 12.
2% and 14.
5% respectively over the previous month.
However, due to the continuing downturn in the commercial vehicle market, automobile production and sales declined slightly in September compared with the same period last year, down 1.
9% and 1.
7% respectively compared with the same period last year.
From January to September, domestic automobile production and sales totaled 21.
47 million and 21.
571 million respectively, an increase of 1.
9% and 2.
4% respectively over the same period last year, slowing down from the previous eight months.
Among them, exports and new energy vehicles are still the main incremental sectors.
The China Automobile Association pointed out that this is mainly due to the continued strengthening of subsidies for scrapping and renewal of cars at the national level in the third quarter, while local trade-in policies have come into effect one after another, and car companies have launched new autumn products one after another.
multiple benefits have jointly promoted the improvement of car sales.
In view of the positive role of the trade-in policy in stimulating automobile consumption, in order to ensure the stability, continuity and predictability of the policy, the China Automobile Association proposes to continue the relevant policy next year and release the relevant implementation details as soon as possible.
stabilize market expectations.
The “Golden Nine” effect appeared, and exports continued to hit new highs.
According to data disclosed by the China Automobile Association, in September 2024, the production and sales of passenger cars in China completed 2.
502 million and 2.
525 million respectively, up 12.
6% and 15.
8% respectively from the previous month, and 0.
2% and 1.
5% respectively over the same period last year.
From January to September, the production and sales of passenger cars totaled 18.
643 million and 18.
679 million respectively, up 2.
6 per cent and 3 per cent respectively over the same period last year.
Photo: China Automobile Association, Chinese brand passenger cars are the main growth force, and the overall sales share is continuing to rise.
In the first nine months of this year, Chinese brand passenger cars sold a total of 11.
919 million new cars, an increase of 20.
5 percent over the same period last year, with a corresponding sales share of 63.
8 percent, an increase of 9.
2 percent over the same period last year, a record high.
Correspondingly, the share of joint ventures continues to decline.
From January to September, German, Japanese, American and Korean brands accounted for 15.
2%, 11.4%, 6.7% and 1.
2% of the domestic passenger car market respectively, a significant decline compared with previous years.
While the overall competitiveness of independent brands continues to improve, local car companies have also achieved good performance in overseas markets.
In September, domestic car exports totaled 539000, up 5.
4 percent from the previous month and 21.
4 percent over the same period last year.
Of this total, 428000 fuel vehicles were exported, up 6.
6 percent from the previous month and 22.
9 percent over the same period last year, and 111000 new energy vehicles were exported.
Photo: China Automobile Association, in the first nine months of this year, total domestic car exports reached 4.
312 million, an increase of 27.
3% over the same period last year.
Among them, the export of traditional fuel vehicles was 3.
384 million, up 32% from the same period last year, and the export of new energy vehicles was 928000, up 12.
5% from the same period last year.
It can be seen that fuel vehicles are still the main export force.
Chen Shihua, deputy secretary general of the China Automobile Association, pointed out that if automobile exports continue to be calculated on the basis of an average of 500000 vehicles per month in the fourth quarter, China’s total automobile exports are expected to reach 5.
8 million this year, a further increase compared with last year.
In terms of enterprises, among the top 10 vehicle exports in September, Chery was the most outstanding, with an export volume of 109000 vehicles, an increase of 20.
7% over the same period last year, accounting for 20.
2% of the total export volume.
This was followed by SAIC and Geely, with exports of 81000 and 57000 vehicles respectively in September.
Although the overall export scale of Jiangqi is not particularly outstanding, the growth rate is the most significant, with exports reaching 29000 vehicles in September, a year-on-year increase of 1.
1 times.
Photo source: China Automobile Association, from January to September, among the top 10 vehicle export enterprises, BYD grew the fastest, with a cumulative export volume of 302000 vehicles, an increase of 96.
3% over the same period last year.
In addition, Geely and Chang’an have also seen considerable growth, with exports reaching 404000 and 420000 respectively this year, up 63.
4 per cent and 61 per cent respectively over the same period last year.
In terms of sea destinations, according to the General Administration of Customs data compiled by the China Automobile Association, Russia, Mexico and the United Arab Emirates ranked in the top three in terms of car exports, while the top three markets for new energy vehicle exports were Belgium, Brazil and the United Kingdom.
If divided by different price ranges, in the traditional fuel car market, sales are still mainly concentrated in the 10-150000 price range, with cumulative sales of 3.
596 million vehicles this year, but down 13.
3% from the same period last year.
In addition, sales in the 15-200000 market range are also growing, while sales in other price ranges are negative.
New energy vehicles continue to sell well, and are expected to reach 12 million this year.
Another important sales support for the growth of the car market is undoubtedly new energy vehicles.
In September, domestic production and sales of new energy vehicles completed 1.
307 million and 1.
287 million respectively, an increase of 48.
8% and 42.
3% respectively over the same period last year, accounting for 45.
8% of the total monthly sales of 2.
809 million vehicles.
Among them, pure electric vehicles still occupy most of the market share, with production and sales of 786000 and 775000 vehicles respectively in September, up 33.
4% and 3.
8% respectively over the same period last year.
However, in terms of market growth, plug-in hybrid vehicles are the main growth force of the new energy vehicle market, with production and sales reaching 522000 and 511000 respectively in September, up 80.
1 per cent and 84.
2 per cent respectively over the same period last year.
From January to September, the total production and sales of new energy vehicles completed 8.
316 million and 8.
32 million respectively, an increase of 31.
7% and 32.
5% respectively over the same period last year.
New energy vehicle sales accounted for 38.
6% of total new car sales.
Of these, the total production and sales of pure electric vehicles were 4.
993 million and 4.
988 million respectively, up 11.
9% and 11.
6% respectively over the same period last year.
the cumulative production and sales of plug-in hybrid vehicles were 3.
318 million and 3.
328 million respectively, up 79.
5% and 84.
2% respectively over the same period last year.
Chen Shihua pointed out that the concentration of China’s new energy vehicle industry is higher than that of the automobile industry as a whole.
Due to the continuous intensification of industrial competition and the differentiation of the market pattern, key enterprises are also being divided.
at present, the share of the top three enterprises of new energy vehicles in China has accounted for half.
According to the price range, sales of new energy passenger cars are still mainly concentrated in the price range of 15-200000, with a cumulative sales volume of 2.
231 million vehicles, an increase of 15.
4% over the same period last year.
From the perspective of the overall market, except for the decline in sales in the price range of 40-500000, sales in other price ranges showed positive growth, with the largest increase in the price range above 500000.
In the traditional fuel car market, sales are now mainly concentrated in the 10-150000 price range, with a cumulative sales of 3.
596 million vehicles this year, but down 13.
3% from the same period last year.
In addition, sales in the 15-200000 market range are also growing, while sales in other price ranges are negative.
The China Automobile Association estimates that the overall sales of new energy vehicles in China are expected to reach 12 million this year.
It was predicted that throughout 2024, sales of new energy vehicles in China are expected to reach 11.
5 million units, breaking records and reaching new highs.
At present, the new forecast is more optimistic.
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