On July 10, the China Association of Automobile Manufacturers released automobile production and sales data for June 2024.
0 1
Overall situation
In June, automobile production and sales were 2.507 million and 2.552 million respectively, up 5.7% and 5.6% month-on-month, and down 2.1% and 2.7% year-on-year respectively. From January to June, automobile production and sales were 13.891 million and 14.047 million respectively, up 4.9% and 6.1% year-on-year, and the growth rate of production and sales narrowed by 1.7 and 2.2 percentage points respectively compared with January to May.
Comments:
Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers: Domestic automobile sales increased slightly in the first half of the year, but inventory was high. The problem of insufficient domestic consumer confidence is still prominent, and consumer confidence and consumption environment need to be continuously improved.
Although policies to promote consumption have been implemented one after another, the effect remains to be seen. I hope that the purchase restriction policy in cities with car purchase restrictions will be improved in the second half of the year.
From January to May, automobile production and sales were higher than the same period last year, but lower than the same period last year in June, and slightly lower than previous expectations.
02
Passenger car
In June, passenger car production and sales were 2.177 million and 2.215 million, respectively, up 6.2% and 6.7% month-on-month, and down 1.9% and 2.3% year-on-year, respectively. From January to June, passenger car production and sales were 11.886 million and 11.979 million, respectively, up 5.4% and 6.3% year-on-year, respectively.
03
Commercial vehicle
In June, commercial vehicle production and sales were 330,000 and 337,000, respectively, with production up 2.8% month-on-month and sales down 1.2% month-on-month, and down 3.5% and 4.9% year-on-year, respectively. From January to June, commercial vehicle production and sales were 2.005 million and 2.068 million, respectively, up 2% and 4.9% year-on-year, respectively.
Comments:
Chen Shihua: At present, the commercial vehicle market is under great pressure. Surveys on key enterprises show that the market growth momentum is insufficient and the inventory is high.
04
New energy vehicles
In June, the production and sales of new energy vehicles reached 1.003 million and 1.049 million respectively, up 28.1% and 30.1% year-on-year, and the market share reached 41.1%. From January to June, the production and sales of new energy vehicles reached 4.929 million and 4.944 million respectively, up 30.1% and 32% year-on-year, and the market share reached 35.2%.
Comments:
Chen Shihua: In the first half of the year, the sales of new energy vehicles continued to maintain a high growth rate, with a market share of 41.1% in June, and new energy passenger cars close to 45%. However, the growth rate of pure electric vehicles has slowed down, which is far behind plug-in hybrids. Plug-in hybrids play an important role in the current growth of new energy vehicle sales.
According to statistics from the China Association of Automobile Manufacturers, as of the end of June, the cumulative production and sales of domestic new energy vehicles have exceeded 30 million.
05
Export
In June, 485,000 vehicles were exported, up 0.7% from the previous month and 26.9% from the previous year. From January to June, 2.793 million vehicles were exported, up 30.5% from the previous year.
Comments:
Chen Shihua: Compared with the very obvious decline in the domestic market, the international market performed well, and exports have become an important force supporting the current Chinese automobile market.
06
Chinese brand passenger cars
In June, the sales volume of Chinese brand passenger cars was 1.432 million, up 18.8% from the previous year, with a market share of 64.6%. From January to June, the sales volume of Chinese brand passenger cars was 7.419 million, up 23.9% from the previous year, with a market share of 61.9%.
Comments:
Chen Shihua: In June, the market share of Chinese brands was close to 65%, a record high, and the cumulative growth rate was also fast.