Domestic auto demand remains strong despite sales decline
In February 2011, China's vehicle production and sales volume was 1.2603 million and 1.2670 million respectively, down by 29.89 percent and 33.09 percent than that in January. Among the auto enterprises, the top ten best-selling ones are listed in order as follow: SAIC Motor, Dongfeng, Changan, FAW, BAW, Guangzhou Automobile, JAC, Brilliance Auto, Chery and Geely. Said ten enterprises had completed an aggregate sales volume of 1.0945 million, accounting for 86 percent of the total vehicle sales.
Affected by the long Spring Festival Holiday, vehicle consumption in February has always been at a low level. Although the sales volume of vehicle companies widely had a sharp month-on-month decrease, the production and sales volume still increased by 4.48 percent and 4.57 percent respectively compared with the same period of last year. In general, there is not a trend of obvious demand decline in the market.
The production and sales volume of passenger vehicle in February was 969.3 thousand and 967.2 thousand respectively, decreasing by 30.67 percent and 36.74 percent than that in January while increasing by 5.42 percent and 2.57 percent year-on-year. The month-on-month production and sales volume of all passenger vehicle types both witnessed a decrease, and the declining rate was both around 30 percent, in which the sales volume of sedan declined by 40.80 percent, being the biggest decline among all passenger vehicle types. As far as year-on-year figure is concerned, except for the cross passenger cars, other vehicle types all achieved a growth to a different extent. Multi-purpose vehicle (MPV) and sport utility vehicle (SUV) grew rapidly and performed quite well.
The order of top ten best-selling passenger vehicle companies in February is: SAIC-GM-Wuling, Shanghai-Volkswagen, Shanghai GM, Chongqing Changan, Beijing Hyundai, Dongfeng-Nissan, Faw-Volkswagen, Chery, Dongfeng and FAW Toyota. The above-mentioned ten companies sold a total of 548.2 thousand passenger vehicles, accounting for 57 percent of total passenger vehicle sales.
The production and sales volume of commercial vehicle was 291 thousand and 299.8 thousand respectively, down 27.14 percent and 17.81 percent month-on-month and up 1.46 percent and 11.59 percent year-on-year. The production and sales volume of all commercial vehicle types had different degrees of decrease than that in January, in which bus and incomplete bus declined most severely, both the production and sales volume went down by over 40 percent. Looking at the year-on-year figure, some vehicle types increased while some decreased, in which truck and incomplete bus grew markedly, while the production and sales volume of semi trailer towing vehicle and incomplete truck was lower than that in the same period of last year. The order of top ten best-selling commercial manufacturers is: Foton, Dongfeng, JAC, FAW, Jinbei, Sinotruk, JMC, Chongqing Changan, Nanjun and Shanxi Automobile. The sales volume of these ten companies was 211.8 thousand, taking up 71 percent of total commercial vehicle sales.
The market share of passenger vehicle with an engine displacement of 1.6L and below witnessed a setback too. In February, the sales volume of passenger vehicle with an engine displacement of 1.6L and below was 681.1 thousand, decreasing by 36.88 percent than that in January while increasing by 0.80 percent year-on-year. Passenger vehicles with an engine displacement of 1.6L and below account for 70.41 percent of total passenger vehicles, down by 0.16 percent month-on-month and 1.25 percent year on year.
In February, the total sales volume of Chinese passenger vehicle with independent brands was 456.9 thousand, accounting for 47.24 percent of total passenger vehicle sales; the percentage increased by 1.23 percent month-on-month but went down by 3.39 percent year-on-year. Independent brand car sales volume was 196.6 thousand, accounting for 31.02 percent of total car sales; the percentage went down by 1.67 percent than that in January and 1.43 percent year on year.
Vehicle export declined month on month while maintaining rapid growth year on year. According to statistics from China Association of Automobile Manufactures, the vehicle export volume in February was 43.4 thousand, down 16.51 percent than that in previous month and up 63.56 percent year on year. In which the passenger vehicle export volume was 25.6 thousand, decreasing by 6.16 percent month on month; commercial vehicle export volume was 17.8 thousand, down 27.90 percent month on month. The export volume of the above-mentioned two vehicle types increased by 96.48 percent and 31.91 percent respectively compared with the same period of the previous year.
According to the accumulated figure of the first two months, China's vehicle production and sales volume has reached 3.0681 million and 3.1554 million respectively, increasing by 8.75 percent and 9.71 percent, and the increasing rate has dropped to be lower than 10 percent. After two years' rapid development, the vehicle production and sales volume has reached a considerable scale, the base figure has been relatively big. There are signs that indicate the "blowout" market as has been two years ago will be unlikely to happen again, however, it is still worthwhile to expect a steady growth.
