Economic operation of China's automobile industry in October 2021

In October 2021, affected by adverse factors such as the shortage of automotive chip supply and tight power supply, China's automobile production and sales showed a downward trend year-on-year, but the decline was significantly narrower than before; the production and sales of new energy vehicles continued to maintain rapid growth, and the market penetration reached 12.1% from January to October.

1. Auto sales fell 9.4% year-on-year in October

In October, the production and sales of automobiles were 2.33 million and 2.333 million respectively, up 12.2% and 12.8% month-on-month, down 8.8% and 9.4% year-on-year respectively, and the decline was 9.1 and 10.2 percentage points narrower than that in September.

From January to October, the production and sales of automobiles were 20.587 million and 20.97 million respectively, with a year-on-year increase of 5.4% and 6.4% respectively, down 2.1 and 2.3 percentage points from January to September.

1)Passenger vehicles sales fell 5.0% year-on-year in October

In October, the production and sales of passenger vehicles were 1.988 million and 2.007 million respectively, with a year-on-year decrease of 4.7% and 5.0% respectively. In terms of models, the production and sales of cars were 907,000 and 924,000 respectively, with a year-on-year decrease of 4.7% and 2.6% respectively; the production and sales of SUVs were 931,000 and 934,000 respectively, with a year-on-year decrease of 4.3% and 6.8% respectively; the production and sales of 110,000 MPV vehicles decreased by 2.7% and 113000 MPV vehicles respectively year-on-year; the production and sales of crossover passenger vehicles were 36,000 and 35,000 respectively, with a year-on-year decrease of 6.2% and 9.3% respectively.

From January to October, the production and sales of passenger vehicles were 16.648 million and 16.871 million respectively, with a year-on-year increase of 8.6% and 8.8% respectively. In terms of models, the production and sales of cars were 7.71 million and 7.8 million respectively, with a year-on-year increase of 8.7% and 8.6% respectively; the production and sales of SUVs were 7.789 million and 7.927 million respectively, with a year-on-year increase of 8.5% and 9.5% respectively; the production and sales of MPV were 840,000 and 834,000 respectively, with a year-on-year increase of 11.3% and 6.3% respectively; the production and sales of crossover passenger vehicles were 309,000 and 311,000 respectively, with a year-on-year increase of 1.4% and 3.0% respectively.

2)Commercial vehicles sales fell 29.7% year-on-year in October

In October, the production and sales of commercial vehicles were 342,000 and 326,000 respectively, with a year-on-year decrease of 26.9% and 29.7% respectively. According to the models, the production and sales of trucks were 305,000 and 287,000 respectively, with a year-on-year decrease of 28.2% and 31.8% respectively; the production and sales of passenger buses were 37,000 and 39,000 respectively, with a year-on-year decrease of 14.0% and 8.8% respectively.

From January to October, the production and sales of commercial vehicles were 3.939 million and 4.099 million respectively, with a year-on-year decrease of 6.3% and 2.5% respectively. In terms of vehicle types, the production and sales of trucks were 3.525 million and 3.688 million respectively, with a year-on-year decrease of 8.8% and 4.6% respectively; the production and sales of passenger buses were 415,000 and 411,000 respectively, with a year-on-year increase of 22.2% and 21.6% respectively.

2.New energy vehicles sales volume increased by 1.3 times year-on-year in October

In October, the production and sales of new energy vehicles were 397,000 and 383,000 respectively, an increase of 1.3 times year-on-year, and the market penetration rate was 16.4%. In terms of models, the production and sales of pure electric vehicles were 329000 and 316,000 respectively, with a year-on-year increase of 1.3 times; the production and sales of plug-in hybrid electric vehicles were 68,000, with a year-on-year increase of 1.7 times and 1.5 times respectively; the production and sales of fuel cell vehicles were 59 and 47 respectively, with a year-on-year decrease of 23.4% and 40.5% respectively.

From January to October, the production and sales of new energy vehicles were 2.566 million and 2.542 million respectively, an increase of 1.8 times year-on-year, and the market penetration rate was 12.1%. In terms of models, the production and sales of pure electric vehicles were 2.132 million and 2.105 million respectively, an increase of 1.9 times year-on-year; the production and sales of plug-in hybrid electric vehicles were 433,000 and 437,000 respectively, with a year-on-year increase of 1.2 times and 1.4 times respectively; The production and sales of fuel cell vehicles were 940 and 953 respectively, with a year-on-year increase of 45.3% and 44.8% respectively.

3. Auto exports increased by 1.1 times year-on-year in October

In October, 231,000 vehicles were exported, a year-on-year increase of 1.1 times. In terms of models, the export of passenger vehicles was 198,000, a year-on-year increase of 1.3 times; the export of commercial vehicles was 33,000, a year-on-year increase of 37.2%. the export of new energy vehicles was 60,000, a year-on-year increase of 7.1 times.

From January to October, the export of complete vehicles was 1.594 million, a year-on-year increase of 1.2 times. In terms of models, the export of passenger vehicles was 1.258 million, a year-on-year increase of 1.3 times; the export of commercial vehicles was 336,000, a year-on-year increase of 86.0%. The export of new energy vehicles was 255,000, a year-on-year increase of 4.7 times.

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

Translated by; WONDEE Autoparts

2022/3/31