Despite facing multiple challenges, Chinese auto enterprises still handed over an answer sheet of year-on-year growth in production and sales in the first quarter of this year.
According to the data released by China Automobile Industry Association (hereinafter referred to as “China Automobile Association”) on April 11, from January to March this year, China’s automobile production and sales reached 6.484 million and 6.599 million respectively, with a year-on-year increase of 2% and 0.2% respectively.
It is worth noting that new energy vehicles are becoming an important driving force for the development of China’s automobile industry. In the first quarter of this year, the production and sales of new energy vehicles exceeded 1.2 million, with a year-on-year increase of about 1.4 times, and the market share reached 19.3%.
At the same time, the reporter of China business daily learned in the interview that “going to sea” is becoming a key word for the development of China’s automobile industry. With more and more auto enterprises “going global”, while China’s auto exports are significantly increasing, the influence of independent auto brands in the international market is expected to be further improved.
Fu Bingfeng, vice president and Secretary General of China Automobile Industry Association, said recently: “judging from the situation in the first quarter of this year, new energy vehicles are expected to reach 5 million units in the whole year, becoming the main force of market growth and further highlighting its leading role in the world. The development of China Shanxi Guoxin Energy Corporation Limited(600617) automobile industry has accelerated the transformation from policy driven to market driven, and new energy vehicles have become the biggest highlight of the development of the current automobile industry.”
passenger car production and sales are steadily improving
In the first quarter of this year, China’s automobile industry as a whole continued to maintain a stable growth trend.
According to the statistics of China Automobile Association, from January to March this year, the production and sales of passenger cars were 5.499 million and 5.545 million respectively, with a year-on-year increase of 11.0% and 9.0% respectively. Among them, the production and sales performance of passenger cars was particularly bright in March, with 1881000 and 1864000 vehicles completed respectively, with a month on month increase of 22.4% and 25.1%.
The performance of new energy vehicle market is still outstanding. From January to March, the production and sales of new energy vehicles were 1293000 and 1257000 respectively, with a year-on-year increase of 1.4 times. Among them, the production and sales of pure electric vehicles were 1.036 million and 1.07 million respectively, with a year-on-year increase of 1.3 times; The production and sales of plug-in hybrid electric vehicles were 256000 and 249000 respectively, with a year-on-year increase of 2.3 times and 2.0 times respectively; The production and sales of fuel cell vehicles were 856 and 738 respectively, an increase of 7.2 times and 3.9 times respectively.
“In the first quarter, automobile production and sales increased slightly compared with the same period last year, and the growth rate was significantly lower than that of the same period last year. From the perspective of subdivided models, the growth rate of passenger car production and sales was higher than that of the industry as a whole; the production and sales of new energy vehicles continued the rapid growth momentum, with both more than one million vehicles and a market share of 19.3%, which further highlighted the leading role of new energy vehicles in strategy.” China Automobile Association said.
It is worth noting that according to the data released by the passenger Federation, in March this year, the retail market penetration of new energy vehicles in China was 28.2%. Industry analysts believe that the sustainable development of the new energy automobile industry and the breakthrough of penetration rate mean that the new energy automobile industry has ushered in a new inflection point of development again.
Xu Changming, deputy director of the National Information Center, said at the forum of China electric vehicle hundred people’s conference held recently: “in the future, new energy vehicles will maintain rapid development for a period of time. There are four basic bases: ‘double carbon’ strategy will form a new thrust; intellectualization will form a new pull; large-scale makes the upstream and downstream industrial chain interact with the whole vehicle; consumers’ awareness and acceptance of new energy vehicles are rapidly improving.”
With the continuous release of favorable policies and the significant increase in production and sales, auto enterprises are also actively planning and arranging production capacity to meet the rapidly expanding market demand for new energy vehicles.
Geely Automobile Holding Co., Ltd. (00175. HK) recently released sales data show that in March this year, sales exceeded 100000, reaching 101166, achieving double year-on-year growth. In the field of new energy and hybrid, the monthly sales volume reached 15557, with a year-on-year increase of about 332%.
An Conghui, chairman of Geely Automobile Group, executive director of Geely Automobile Holding Co., Ltd. and CEO of jikrypton intelligent technology, said at a recent performance conference: “although there is great uncertainty in the epidemic and supply chain, jikrypton is determined to achieve 650000 sales in 2025. We are confident that we will rank among the top three in the global high-end electric vehicle market. In the next three years, jikrypton will launch six models.”
It is reported that in January this year, Geely Holding Group signed a strategic cooperation agreement with Huishan District, Wuxi City, and plans to invest 10 billion yuan to layout and build a new energy powertrain project with an annual capacity of Shanghai Pudong Development Bank Co.Ltd(600000) units (sets) in Wuxi City, mainly engaged in the R & D, production and sales of high-performance electric drive series products.
vehicle enterprises compete for the high ground of electrification
With Byd Company Limited(002594) officially announcing that the whole vehicle production of fuel vehicles will be stopped from March, the transformation of electrification is no longer an option, but the only way to ensure the sustainable development of vehicle enterprises.
Traditional automobile enterprises represented by Saic Motor Corporation Limited(600104) and others are also accelerating their start on the new energy vehicle track and becoming the “leader” in the wave of electrification transformation.
