Economic operation of China's automobile industry in July 2022

In July 2022, with the further effect of the China government's economic stabilization policies, China's automobile production and sales maintained a rapid growth. In July, the production and sales of automobiles were 2.455 million and 2.42 million, with a year-on-year increase of 31.5% and 29.7% respectively. New energy vehicles continued to grow at a high speed, with a market share of 22.1% from January to July.

1. China's automobile sales increased by 29.7% year-on-year in July

In July, China's automobile production and sales reached 2.455 million and 2.42 million respectively, with a month-on-month decrease of 1.8% and 3.3% respectively, with a year-on-year increase of 31.5% and 29.7% respectively, the increase was 3.3 percentage points and 5.9 percentage points higher than that in June.

From January to July, China's automobile production and sales were 14.571 million and 14.477 million respectively, with a cumulative year-on-year growth of 0.8%, achieving a positive change from negative; the cumulative sales decreased by 2% year-on-year, narrowing by 4.6 percentage points.

1)China's passenger vehicle sales increased by 40.0% year-on-year in July

In July, China’s production and sales of passenger vehicles were 2.21 million and 2.174 million respectively, with a year-on-year increase of 42.6% and 40.0% respectively. In terms of vehicle types, the production and sales of cars were 1.044 million and 1.036 million respectively, with a year-on-year increase of 43.3% and 45.2% respectively; the production and sales of SUVs were 1.055 million and 1.027 million respectively, with a year-on-year increase of 49.1% and 41.8% respectively; the production and sales of MPVs were 85,000 and 81,000 respectively, with a year-on-year increase of 2.4% and 0.2%; the production and sales of cross type passenger vehicles were 26,000 and 31,000 respectively, with a year-on-year decrease of 15.4% and 13.2% respectively.

From January to July, China’s production and sales of passenger vehicles were 12.645 million and 12.529 million respectively, with a year-on-year increase of 10.9% and 8.3% respectively. In terms of vehicle types, the production and sales of cars were 5.972 million and 5.965 million respectively, with a year-on-year increase of 13.0% and 11.3% respectively; the production and sales of SUVs were 6.023 million and 5.916 million respectively, with a year-on-year increase of 12.6% and 8.4% respectively; the production and sales of MPVs were 467,000 and 465,000 respectively, with a year-on-year decrease of 15.1% and 13.3% respectively; the production and sales of cross passenger vehicles were 183,000, with a year-on-year decrease of 16.3% and 13.6% respectively.

2) China's commercial vehicles sales decreased by 21.5% year-on-year in July

In July, China’s production and sales of commercial vehicles were 244,000 and 246,000 respectively, with a year-on- year decrease of 22.9% and 21.5% respectively. In terms of vehicle types, the production and sales of trucks were 212,000 and 216,000 respectively, with a year-on-year decrease of 22.5% and 21.5% respectively; the production and sales of passenger vehicles were 32,000 and 30,000 respectively, with a year-on-year decrease of 25.4% and 21.1%.

From January to July, China’s production and sales of commercial vehicles were 1.927 million and 1.948 million respectively, with a year-on-year decrease of 36.9% and 39.3% year-on-year respectively. In terms of vehicle types, the production and sales of trucks were 1.719 million and 1.738 million respectively, with a year-on-year decrease of 37.6% and 40.3% respectively; the production and sales of passenger vehicles were 208,000 and 209,000 respectively, with a year-on-year decrease of 30.8% and 29.2% respectively.

2. China's new energy vehicles sales volume increased by 1.2 times year-on-year in July

In July, China’s production and sales of new energy vehicles were 617,000 and 593,000 respectively, with a year-on-year increase of 1.2 times and a market share of 24.5%. In terms of vehicle types, the production and sales of pure electric vehicles were 472,000 and 457,000 respectively, with a year-on-year increase of 1.0 times and 1.1 times respectively; the production and sales of plug-in hybrid electric vehicles were 144,000 and 135,000 respectively, with a year-on-year increase of 1.8 times and 1.7 times respectively; the production and sales of fuel cell vehicles were 292 and 245 respectively, with a year-on-year increase of 4.6 times and 13.4% respectively.

From January to July, China’s production and sales of new energy vehicles were 3.279 million and 3.194 million respectively, with a year-on-year growth of 1.2 times and a market share of 22.1%. In terms of vehicle types, the production and sales of pure electric vehicles were 2.574 million and 2.518 million respectively, with a year-on-year increase of 1.0 times; the production and sales of plug-in hybrid electric vehicles were 702,000 and 674,000 respectively, with a year-on-year increase of 1.9 times and 1.7 times respectively; the production and sales of fuel cell vehicles were 2,000, with a year-on-year increase of 2.1 times and 1.4 times respectively.

3. China's automobile exports increased by 67.0% year-on-year in July

In July, China exported 290,000 complete vehicles, with a year-on-year increase of 67.0%. In terms of vehicle types, the export of passenger vehicles was 242,000, with a year-on-year increase of 73.1%. The export of commercial vehicles was 49,000, with a year-on-year increase of 42.2%. The export of new energy vehicles was 54,000, with a year-on-year increase of 37.6%.

From January to July, China exported 1.509 million complete vehicles, with a year-on-year increase of 50.6%. In terms of vehicle types, the export of passenger vehicles was 1.186 million, with a year-on-year increase of 54.0%; the export of commercial vehicles was 322,000, with a year-on-year increase of 39.2%. The export of new energy vehicles was 257,000, with a year-on-year increase of 1.0 times.

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

Translated by; WONDEE Autoparts

2022/8/18