Home / Metal News / Copper / [SMM special topic] under the epidemic, the sales of car companies in the first half of the year are a bit miserable and the data need not be too pessimistic.
[SMM special topic] under the epidemic, the sales of car companies in the first half of the year are a bit miserable and the data need not be too pessimistic.
Jul 27,2020 16:22CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 27: in the first half of 2020, due to the impact of the epidemic, the already "depressed" automobile industry was hit hard. According to the data, from January to June, automobile production and sales completed 10.112 million and 10.257 million respectively, with production and sales falling 16.8% and 16.9% respectively compared with the same period last year.

The car sales of most vehicle companies fell to varying degrees in the first half of the year. For example, BAIC Blue Valley, BYD and so on. However, there are also a small number of enterprises whose car sales rose in the first half of the year compared with the same period last year, such as Changan Automobile, Jiangling Motor and Judging from the fact that automobile enterprises have completed their sales targets in 2020, none of them has reached 50%, and only three enterprises have achieved a sales target rate of 40%, namely Jianghuai Automobile, Jiangling Automobile and Changan Automobile.

Among them, Jianghuai Motor sold 209400 vehicles in the first half of the year, down 10.97% from the same period last year, and the target completion rate for the first half of 2020 was 46.4%. With regard to the market situation in the second half of this year, Jianghuai Motors said: "as the economic and social operation order adapted to the normalization of epidemic prevention and control is stable and far away, the decline in sales has continued to narrow since the resumption of work this year, but to completely resolve the impact of the epidemic, there is still a lot of pressure."

It is worth mentioning that earlier, Jianghuai Automobile and Volkswagen Group announced that they would deepen their cooperation, which made Jianghuai one of the most popular independent brands in the first half of the year. On May 29th, Volkswagen Group (China) signed an agreement with Anhui State-owned assets Supervision and Administration Commission and Anhui Jianghuai Automobile, under which Volkswagen will invest 1 billion euros to acquire a 50% stake in Jianghuai Group, the parent company of Jianghuai Motors. At the same time, it will increase its stake in the electric vehicle joint venture JAC Volkswagen to 75%, and gain the management right of the joint venture. According to the agreement signed by Jianghuai and Volkswagen, Volkswagen promised to award 4-5 brand products to Jianghuai Volkswagen Group, and the production scale is expected to reach 20-250000 vehicles / 35-400000 vehicles by 2025 / 2029.

From January to June, Jiangling Motor sold a total of 141000 vehicles, an increase of 3.33% over the same period last year. After Jiangling issued a semi-annual performance forecast for 2020, it realized a net profit of 208 million yuan belonging to shareholders of listed companies in the first half of the year, an increase of 253% over the same period last year.

Jiangling said that as the national epidemic prevention and control situation continues to improve, the company will continue to promote the quality leading strategy, carry out efficiency improvement projects and cost optimization projects, and start with Jiangling healthy car series highlighted by "Great Health" as the starting point. increase the launch of new products, continue to promote the "Wolf Warriors Initiative", optimize the marketing system and channel capacity, and promote key products.

As one of the top three companies in brand sales, Changan Automobile sold 831000 vehicles in the first half of 2020. Compared with the negative year-on-year growth of most car companies, such as Dongfeng Motor and SAIC, Changan Automobile increased by 1.3% compared with the same period last year. Changan independent brand CS75 Plus, Uni-t and other models continue to sell well; Changan Ford Rui Ji, explorers and other sales have climbed steadily; Changan Mazda CX30 has gradually contributed to sales. The continued increase in sales of various brands is expected to further improve the overall profitability of the company.

With the recovery of automobile production and sales data since March, policies to stimulate automobile consumption have been continuously introduced in various countries and places. In June, automobile production and sales data continued to grow and hit a record high. According to the China Automobile Association, production and sales completed 2.325 million and 2.3 million vehicles respectively in June, up 6.3% and 4.8% respectively from the previous month, and 22.5% and 11.6% respectively over the same period last year. Xin Guobin, vice minister of the Ministry of Industry and Information Technology, said that further promoting the policy of promoting automobile consumption will be effective. Although some provinces have introduced some policies to promote consumption, they should encourage relevant places to promote the scrapping and renewal of old cars, further release consumption potential, and accelerate the development of new energy vehicle industry. It is believed that the automobile industry will ride the wind and waves in the future.

Scan the code and apply to join the SMM metal exchange group.

Cars
sales
policies

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news