Economic performance of the automobile industry in February 2017

Abstract In February 2017, due to the influence of holiday factors, automobile production and sales decreased, but maintained a rapid growth year-on-year. In January-February, the production and sales of automobiles increased, and the growth rate increased compared with the same period of the previous year. First, February car sales increased by 22.4%
In February 2017, due to the influence of holiday factors, automobile production and sales decreased, but maintained a relatively fast growth year-on-year. In January-February, the production and sales of automobiles increased, and the growth rate increased compared with the same period of the previous year.
First, February car sales increased by 22.4% year-on-year
In February, automobile production was 2.16 million units, down 8.8% from the previous month and up 33.8% year-on-year; sales were 1.939 million units, down 23.0% from the previous month and up 22.4% year-on-year.
In January-February, the production and sales of automobiles were 4.529 million and 4.459 million, respectively, up 11.1% and 8.8% from the same period of the previous year, up from 7.3 and 4.5 percentage points in the same period of last year. Overall, the overall performance was good.
(I) Passenger car sales in February increased by 18.3% year-on-year
In February, the production and sales of passenger cars were 184.7 and 1.163 million respectively, down 10.8% and 26.4% respectively, up 31.5% and 18.3% respectively. Among them, the sales of cars were 769,000, an increase of 15.1%; the sales of SUVs was 673,000, up 40.0% year-on-year; the sales of MPV were 148,000, down 15.2% year-on-year; the sales of cross-type passenger cars were 43,000, down 25.1% year-on-year.
In January-February, a total of 3.851 million passenger cars were sold, a year-on-year increase of 6.3%. Among them: car sales of 1.849 million, an increase of 3.8%; SUV sales of 1.554 million, an increase of 21.6%; MPV sales of 354,000, down 18.7%; cross-type passenger car sales of 94,000, down 26.9%.
1. The growth rate of passenger cars of 1.6 liters and below is slowed down
According to the statistics of the China Association of Automobile Manufacturers, in February, the growth rate of passenger cars of 1.6L and below slowed down. This month, 1.157 million units were sold, a year-on-year increase of 17.5%, accounting for 70.9% of passenger car sales, down 0.5 percentage points from the same period of the previous year.
In January-February, the cumulative sales of passenger cars of 1.6 liters and below were 2.745 million units, an increase of 7.6% over the same period, accounting for 71.3% of passenger car sales, an increase of 0.9 percentage points over the same period of the previous year.
2. Chinese brand passenger car market continues to grow
According to the statistics of China Association of Automobile Manufacturers, in February, Chinese brand passenger cars sold a total of 786,000 vehicles, a year-on-year increase of 22.9%, accounting for 48.2% of total passenger car sales, and the market share increased by 4.2 percentage points from the previous month.
In January-February, the total sales of Chinese brand passenger vehicles totaled 1.763 million, an increase of 6.1% year-on-year, accounting for 45.8% of the total sales of passenger vehicles; among them, the sales volume of passenger cars was 374,000, a year-on-year increase of 3.4%, and the market share was 20.3%; SUV sales of 978,000 units, an increase of 28.3%, market share of 62.9%; MPV sales of 317,000 units, down 22.4%, market share of 89.5%.

(II) Commercial vehicle sales in February increased by 50% year-on-year
In February, driven by the growth of trucks, the sales volume of commercial vehicles maintained a high-speed growth. The production and sales were 312,000 and 307,000 respectively, up 5.0% and 1.7% respectively, up 49.0% and 49.9% respectively. The production and sales of trucks were 290,000 and 282,000, respectively, an increase of 58.5% and 57.4% respectively.
In January-February, the total production and sales of commercial vehicles totaled 611,000 and 608,000 respectively, up 19.4% and 28.3% respectively over the same period of the previous year, which was higher than the overall 8.3 and 19.5 percentage points of the automobile. According to the production and sales of the models, the production and sales of passenger cars decreased by 28.5% and 23.5% respectively compared with the same period of last year. The production and sales of trucks increased by 27.4% and 37.4% respectively over the same period of last year. The production and sales of trucks continued to grow rapidly.
Second, February new energy vehicle sales increased by 30.3%
In February, the production and sales of new energy vehicles were completed at 18,000 units, an increase of 15.5% and 30.3% respectively. Among them, the production and sales of pure electric vehicles were completed 15,000 and 14,000 respectively, up 32.3% and 49.5% respectively. The production and sales of plug-in hybrid vehicles were 0.26 million and 0.37 million respectively, down 33.5% and 12.4% respectively.
In January-February, the cumulative production and sales of new energy vehicles were 25,000 units, down 33.5 and 30.5% respectively over the same period of the previous year. Among them, the production and sales of pure electric vehicles were 21,000 and 19,000 respectively, down 23.6% and 23.4% respectively over the same period of last year; the production and sales of plug-in hybrid vehicles were respectively 0.40 million and 0.58, respectively, down from the same period of last year. 60.5% and 46.7%.
Third, January auto exports increased by 66.1% year-on-year
According to customs statistics, in January 2017, a total of 79,000 vehicles were imported, an increase of 28.9% over the same period of the previous year; the export of automobiles was 74,000, an increase of 66.1% over the same period of the previous year.

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