Data recently released by the China Association of Automobile Manufacturers shows that in the first quarter of this year, my country's automobile industry's economic operation started smoothly and achieved a good start.
In the first quarter of this year, automobile production and sales reached 6.606 million and 6.72 million units respectively, a year-on-year increase of 6.4% and 10.6% respectively, achieving a good start in the first quarter. Among them, in March, automobile production and sales exceeded 2.6 million units, achieving double growth month-on-month and year-on-year.
The China Association of Automobile Manufacturers analyzed that after the Spring Festival, corporate production and operation activities accelerated, the manufacturing industry boom expanded significantly and returned to the expansion range, and market expectations continued to improve. At the same time, the problem of insufficient domestic demand is still prominent. It is hoped that with the detailed implementation of policies and measures such as promoting a new round of large-scale equipment updates and replacing old consumer goods with new ones, it is hoped that the potential of automobile consumption will be further stimulated, industry expectations will be stabilized, and high-quality development of the industry will be assisted.
Passenger car production and sales increased year-on-year compared with March. Production and sales in the month were 2.25 million and 2.236 million respectively, an increase of 76.7% and 67.8% month-on-month, and a year-on-year increase of 4.7% and 10.9% respectively. In the first quarter, the cumulative production and sales of passenger cars reached 5.609 million units and 5.687 million units, a year-on-year increase of 6.6% and 10.7% respectively. Among them, Chinese brand passenger cars continue to grow and their market share remains high. Data show that the sales volume of Chinese brand passenger cars in March was 1.326 million units, a year-on-year increase of 26.1%; the market share was 59.3%, an increase of 7.2 percentage points; the sales volume in the first quarter was 3.392 million units, a year-on-year increase of 26.4%; the market share reached 59.6% , an increase of 7.4 percentage points. Sales of high-end brand passenger cars showed double-digit growth. In March, sales of domestically produced high-end brand passenger cars reached 398,000 units, a month-on-month increase of 53% and a year-on-year increase of 10.8%. From January to March, sales of domestically produced high-end brand passenger cars reached 1.024 million units, a year-on-year increase of 7.5%.
Commercial vehicles also performed well. Production and sales in March were 437,000 units and 458,000 units, respectively, an increase of 88.1% and 82.8% month-on-month, and a year-on-year increase of 0.7% and 5.6% respectively. From January to March, the cumulative production and sales of commercial vehicles reached 997,000 units and 1.033 million units, a year-on-year increase of 5.1% and 10.1% respectively.
New energy vehicles continued to grow rapidly, with production and sales in March reaching 863,000 and 883,000 units, respectively, an increase of 86.2% and 85.2% month-on-month, and a year-on-year increase of 28.1% and 35.3%, respectively, with a market share of 32.8%. From January to March, the cumulative production and sales of new energy vehicles were 2.115 million and 2.09 million, a year-on-year increase of 28.2% and 31.8% respectively, and the market share reached 31.1%.
Complete vehicle exports remain at a high level and continue to play a positive role in driving industry growth. In March, 502,000 automobiles were exported, a month-on-month increase of 33% and a year-on-year increase of 37.9%. In terms of vehicle types, 424,000 passenger vehicles were exported, a month-on-month increase of 34.6%, and a year-on-year increase of 39.3%; commercial vehicle exports were 78,000 units, a month-on-month increase of 24.9%, and a year-on-year increase of 31%. In terms of power type, 377,000 traditional fuel vehicles were exported, a month-on-month increase of 27.7%, and a year-on-year increase of 32%; new energy vehicle exports were 124,000 units, a month-on-month increase of 52%, and a year-on-year increase of 59.4%. From January to March, 1.324 million vehicles were exported, a year-on-year increase of 33.2%. In terms of vehicle types, 1.11 million passenger vehicles were exported, a year-on-year increase of 34.3%; commercial vehicle exports were 214,000 units, a year-on-year increase of 27.5%. The export of traditional fuel vehicles was 1.017 million units, a year-on-year increase of 36.3%; the export of new energy vehicles was 307,000 units, a year-on-year increase of 23.8%.
In terms of industry concentration, from January to March, the top ten companies (groups) in automobile sales sold a total of 5.689 million vehicles, accounting for 84.7% of total automobile sales. Among the top ten companies in automobile sales, compared with the same period last year, the sales of SAIC and BAIC decreased to varying degrees, while the sales of other companies increased to varying degrees, with Chery Holdings having the most significant growth rate.
