Source: China Economic Net
In September, the production, wholesale, retail and export of new energy passenger vehicles in China staged a "quartet", all of which hit a record monthly high. Among them, retail sales exceeded the million mark for the second consecutive month, reaching 1.123 million units, a year-on-year increase of 50.9% and a month-on-month increase of 9.6%; The retail penetration rate exceeded 50% for the third consecutive month, reaching 53.3% in September, an increase of 16.4 percentage points from the same period last year.
Officially entering the traditional sales season of "Golden September and Silver October", the domestic passenger car market has lived up to expectations and continued to stabilize and recover.
Today (October 12), the China Automobile Dealers Association Passenger Car Market Information Joint Branch released data that in September, the wholesale and retail sales of domestic passenger cars in the narrow sense achieved year-on-year growth. Among them, wholesale sales were 2.504 million units, a year-on-year increase of 2.1% and a significant increase of 16.1% month-on-month, setting a record high for the same period in history. For the second time this year, the retail sales volume reached a high of more than 2 million units, and set a new high for the year, with a total of 2.109 million retail units, an increase of 4.5% year-on-year and 10.6% month-on-month.
In terms of production, in September, the production of narrow passenger cars was 2.418 million units, a slight decrease of 0.8% year-on-year and an increase of 11.9% month-on-month.
Cui Dongshu, secretary general of the passenger federation branch, said that "the promotion of policy measures such as car trade-in and scrapping and renewal subsidies has achieved good results. At the same time, the holiday effect of the Mid-Autumn Festival and National Day has also stimulated the enthusiasm of private car purchases. In addition, the hierarchical trend of production, wholesale and retail has promoted the formation of a significant channel destocking trend, which is conducive to the steady development of the circulation ecology. ”
Focusing on the retail market, in September, domestic passenger car sales in the narrow sense returned to more than 2 million units, with a total of 2.109 million units sold, a year-on-year increase of 4.5%, ahead of the production and wholesale ends, showing a high enthusiasm in the end market; The month-on-month growth rate reached 10.6%, which also verified the quality of the "Golden Nine".
In terms of categories, in September, the retail sales of conventional fuel passenger vehicles were 990,000, a year-on-year decrease of 22% and a month-on-month increase of 12%; The retail sales of new energy passenger vehicles were 1.123 million, an increase of 50.9% year-on-year and 9.6% month-on-month, maintaining a high growth rate.
In September, Chinese brands retailed 1.34 million units, up 25% year-on-year and 11% month-on-month. The market sales share reached 63.5%, a year-on-year increase of 10.1 percentage points, and the advantages were further highlighted. The retail sales of joint venture brands were 530,000 units, down 22% year-on-year and up 10% month-on-month; The retail share of German, Japanese and American brands continued to decline, down 3.6, 4.0 and 1.7 percentage points respectively. Luxury brand retail sales were 250,000 units, down 8% year-on-year and up 11% month-on-month; The market share decreased by 1.5 percentage points to 11.7%, with the market share of traditional luxury brands declining significantly.
In terms of models, the SUV market continues to soar, and the absolute value and growth rate of sales continue to lead. In September, SUV sales stood above the million mark, with a total of 1.037 million units sold, up 5.8% year-on-year and 11.1% month-on-month. In recent months, the market's blockbuster new cars have also been mainly concentrated in the SUV segment. In September, 974,000 cars were sold, close to the scale of one million units, up 3.9% year-on-year and 10.5% month-on-month. The popularity of MPVs has "stalled", with a total of 97,000 units retailed, down 3.8% year-on-year and up 6.0% month-on-month.
Focus on the new energy market, and "new high" has become the key word. In September, the production, wholesale, retail and export of new energy passenger vehicles in China all hit a record monthly high.
Among them, production was 1.219 million units, up 51.5% year-on-year and 16.2% month-on-month. Wholesale sales totaled 1.231 million units, up 48.1% y/y and 17.2% m/m.
Retail sales exceeded the million mark for the second consecutive month, reaching 1.123 million units, up 50.9% year-on-year and 9.6% month-on-month. From January to September, the cumulative sales volume has exceeded 7 million units, reaching 7.132 million units, a year-on-year increase of 37.4%.
The retail penetration rate of new energy passenger vehicles exceeded 50% for the third consecutive month, reaching 53.3% in September, an increase of 16.4 percentage points over the same period last year. Among them, Chinese brands led the way, with a retail penetration rate of 74.9% and a market sales share of 73% in September, a year-on-year increase of 1 percentage point. The penetration rate of joint venture brands is only 7%, and the market share is 3.4%. The penetration rate of luxury brands has increased to 33.5%.
In addition, despite the recent downturn in the new energy market in Europe and the United States, China's NEV passenger vehicle exports in September still broke through a new high, with a total of 105,000 units, up 19.3% y/y and 6.0% m/m. Total exports from January to September totaled 968,000 units, reflecting a 30.2% y/y increase, accounting for 24% of total passenger vehicle exports.
Looking forward to October, due to the impact of the holiday, the production time is shorter, but the sales time is longer, which is conducive to terminal performance. At the same time, with the change of seasons, the completion of the autumn harvest and the cooler temperature, the enthusiasm for private car consumption in urban and rural areas will gradually heat up. On the whole, the Passenger Association believes that on the basis of the good performance of the "Golden Nine", the performance of the "Silver Ten" in the auto market is more worth looking forward to. (China Economic Net reporter Guo Yue)