Economic operation of China's automobile industry in January 2022

In January 2022, China's automobile production and sales situation was generally stable, decreased month－on－month, and maintained a slight growth year-on-year. In terms of models, supported by the continued slight improvement of chip supply and driven by the introduction of policies to encourage automobile consumption in some cities, passenger vehicles performed better than the overall level, and the production and sales continued a stable growth trend year-on-year. The month-on-month and year-on-year decline of commercial vehicles production and sales continued, and the year-on-year decline was significant. The export performance of new energy vehicles remained outstanding, with rapid growth year-on-year.

1. Automobiles sales increased by 0.9% year-on-year in January

In January, the production and sales of automobiles were 2.422 million and 2.531 million respectively, down 16.7% and 9.2% month-on-month, with a year-on-year increase of 1.4% and 0.9% respectively.

1) Passenger vehicles sales increased by 6.7% year-on-year in January

In January, the production and sales of passenger vehicles were 2.077 million and 2.186 million respectively, with a year-on-year increase of 8.7% and 6.7% respectively. In terms of models, the production and sales of cars were 962,000 and 1,018,000 respectively, with a year-on-year increase of 7.3% and 4.1% respectively; the production and sales of SUVs were 1.007 million and 1.057 million respectively, with a year-on-year increase of 11.1% and 8.7% respectively; the production and sales of MPVs were 77,000 and 81,000 respectively, with a year-on-year decrease of 7.3% and 1.4% respectively; the production and sales of crossover passenger vehicles were 32,000 and 30,000 respectively, with a year-on-year increase of 29.3% and 78.0% respectively.

In January, 1.004 million Chinese brand passenger vehicles were sold, with a year-on-year increase of 15.9%, accounting for 45.9% of the total passenger vehicles sales, and the share increased by 3.7 percentage points year-on-year.

2) The sales volume of commercial vehicles decreased by 25.0% year-on-year in January

In January, the production and sales of commercial vehicles were 345,000 and 344,000 respectively, with a year-on-year decrease of 28.0% and 25.0% respectively. According to the models, the production and sales of trucks were 315,000 and 314,000 respectively, with a year-on-year decrease of 29.0% and 25.8% respectively; the production and sales of buses were both 30,000 units, with a year-on-year decrease of 14.9% and 15.8% respectively.

2. The sales volume of new energy vehicles increased by 1.4 times year-on-year in January,

In January, the production and sales of new energy vehicles were 452,000 and 431,000 respectively, with a year-on-year increase of 1.3 times and 1.4 times respectively, and the market penetration rate was 17.0%. In terms of models, the production and sales of pure electric vehicles were 367,000 and 346,000 respectively, with a year-on-year increase of 1.2 times; the production and sales of plug-in hybrid electric vehicles were 85,000, an increase of 2.0 times year-on-year; the production and sales of fuel cell vehicles were 142 and 192 respectively, with a year-on-year increase of 3.9 times and 2.0 times respectively.

3. Automobile exports increased by 87.7% year-on-year in January

In January, 231,000 vehicles were exported, with a year-on-year increase of 87.7%. In terms of models, the export of passenger vehicles was 185,000, a year-on-year increase of 94.5%. The export of commercial vehicles was 46,000, a year-on-year increase of 64.8%. The export of new energy vehicles was 56,000, a year-on-year increase of 5.4 times

(Note: the above data were from China Association of Automobile Manufacturers)

Translated by; WONDEE Autoparts

2022/4/15