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Automobile production and sales fell 9.7% from January to August: better than expected
Sep 7,2020 10:15CST
translation
The content below was translated by Tencent automatically for reference.

SMM: on September 5, at the China Automobile Industry Development Forum, Chen Kelong, deputy director of the equipment Industry Department of the Ministry of Industry and Information Technology, said that since April this year, China's automobile industry has achieved positive production and sales growth. From January to August, automobile production and sales are expected to complete about 14.5 million vehicles, down about 9.7% from the same period last year, which is generally better than expected at the beginning of the year, and the recovery rate is among the highest in the world. From January to July, the global auto market fell by 24.5% compared with the same period last year, while China's car sales fell by 12% over the same period last year, half of the world's.

In addition, according to the China Association of Automobile Manufacturers, sales in China's automobile industry will complete 2.18 million vehicles in August 2020, an increase of 3.2% month-on-month and 11.3% year-on-year. Of this total, passenger vehicles will grow by 4.4% over the same period last year, and commercial vehicles will grow by 37.5% over the same period last year. The China Automobile Association predicts that the cumulative sales of the domestic automobile industry in the first eight months of this year will reach 14.54 million, down 9.7% from the same period last year, of which passenger vehicles are down 15.5% from the same period last year, while commercial vehicles are up 16.9% from the same period last year.

Next, let's take a look at the performance of some car companies at home and abroad. Of these, Nissan sold 126592 vehicles in China in August, up slightly from July, but down 2.4 per cent from August last year. From January to August 2020, Nissan's cumulative sales in China reached 843879 vehicles, down 11.8 per cent from the same period last year.

Honda, a Japanese powerhouse, sold 149000 vehicles in China in August, up 19.7 per cent from January to August, with cumulative sales of 897000 vehicles, down 9.0 per cent from a year earlier. According to the joint venture brand, GAC Honda's terminal sales in August were 71000, up 19.7% from the same period last year, while Dongfeng Honda's terminal sales were 77000, up 19.8% from the same period last year. In terms of cumulative sales, from January to August this year, Guangzhou Auto Honda sold 455000 vehicles, down 8.1% from the same period last year; Dongfeng Honda sold 442000 vehicles, down 9.8% from the same period last year.

Among Chinese brands, FAW Hongqi sold 21000 vehicles in August, up 110 per cent from a year earlier. From January to August this year, Red Flag accumulated sales of 109000 vehicles, an increase of 108 per cent over the same period last year. Among them, Red Flag H5 and Red Flag HS5 are the main sales force, accounting for 90% of the total brand sales.

Chery Group sold 64403 vehicles in August, of which Chery sold 40207 vehicles, up 21.1% from a year earlier, while its domestic sales, exports and new energy increased by 20%, 24.5% and 21.9%, respectively. In addition, Chery Jaguar Land Rover and Kaiyi also sold 6024 and 3523 vehicles in August, respectively, an increase of 28.7% and 88.9%, respectively.

The new power brand Lulai delivered 3965 new cars in August, an increase of 104.1 per cent over the same period last year. Among them, the delivery volume of ES8 reached 1125 and that of ES6 reached 2840. From January to August this year, Xilai has delivered a total of 21667 new cars. Founder Li Bin said that in September this year, the production capacity of Lulai will reach 5000 vehicles, providing a guarantee for follow-up delivery.

Editor's comments:

From the sales of several major brands released by KuaiBao, it is not difficult to see that the overall recovery of China's automobile market in July and August is obvious. But the Matthew effect still exists. For example, Lifan sold only 1527 cars in the first six months of this year, of which 978 were passenger cars, down 95.29% from the same period last year. The operating income in the first half of the year dropped nearly 70%, and the net worth was only 100 million yuan. Zhongtai Motor sold 3573 vehicles in the first half of the year, down 96.6% from the same period last year, with a loss of more than 1 billion yuan, and so on. It is expected that in the coming months, several strong brands such as Volkswagen, Toyota and BBA will continue to grow, while weak brands will face the test of life and death.

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