On March 11, data from the China Association of Automobile Manufacturers showed that China's automobile sales in February were 1.737 million units, up 18.7% year-on-year, and sales of new energy vehicles were 334,000 units, up 184.3% year-on-year. The overall performance of new energy vehicles is still outstanding, with a decline from the previous month and a high-speed growth rate year-on-year. Among them, the sales performance of the new forces is even more prominent, with a market concentration of 5%, an increase of 2.8 percentage points year-on-year. In addition, although automobile exports this month also showed a certain decline compared with the previous month, they still maintained a growth momentum year-on-year.
In terms of segments, production and sales of passenger cars totaled 1.534 million units and 1.48 million units, down 26.1% and 32.0% respectively, respectively, while maintaining rapid growth, up 32.0% and 27.8% respectively. Among them, the luxury car market is growing rapidly. In February, the sales volume of high-end brand passenger cars produced in China was 268,000 units, an increase of 31.6% year-on-year, an increase of 20.5 percentage points over January, and the cumulative sales volume in January and February was 5.6 percentage points higher than the overall growth rate of passenger cars.
Commercial vehicle performance remained sluggish, with production and sales of 279,000 units and 250,000 units, respectively, down sequentially and year-on-year, although the year-on-year decline narrowed.
The production and sales of new energy vehicles were 368,000 units and 334,000 units, up 2.0 times and 1.8 times year-on-year, respectively, and continued to maintain high-speed growth year-on-year, of which the production and sales of fuel cell vehicles were 213 and 718 units, respectively, although the number was small, but the year-on-year increase was as high as 7.5 times and 5.4 times.
It is worth noting that the market concentration of key enterprise groups in January and February was lower than that of the same period, and the sales volume of the top ten enterprises was 3.670 million vehicles, accounting for 86.0% of the total, 1.2 percentage points lower than that of the same period. Chen Shihua, deputy secretary-general of the China Automobile Association, said that the decline in market concentration of key enterprise groups is closely related to the sales growth of new car manufacturers. It is reported that from January to February this year, the sales volume of new car manufacturers reached 214,000 units, an increase of 1.490 million units year-on-year, and the market concentration was 5%, an increase of 2.8 percentage points year-on-year.
For the sales volume in March, the China Automobile Association analyzed that it is expected that the automobile market is expected to show a steady growth trend in the first quarter.
[Reporter] Wei Hongquan
【Author】 Wei Hongquan
【Source】 Southern Press Media Group South + client