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2024-09-08 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)11/11 Report--
Since last year, China's auto market has experienced its first decline in 28 years, until 2019 is almost over. According to the latest sales figures released by the China Automobile Association, China's car production and sales in October were 2.295 million and 2.284 million respectively, down 1.7% and 4% respectively from a year earlier. So far, sales in China's auto market have declined for 16 consecutive months compared with the same period last year.
Prior to this, a number of car companies have released KuaiBao's production and marketing in October one after another. even if the overall boost is not effective, there are still several happy and sad companies in the car market, luxury brands are still strong, and independent brands are seriously divided. even Honda, like a joint venture brand, is showing signs of decline.
Specifically, the performance of the joint venture brand was relatively poor in October this year. SAIC, the country's largest auto company, fell nearly 10% year-on-year, with three major sectors declining to varying degrees, the most serious being the SAIC GM sector. the decline was as high as 25.30%; even Volkswagen, the best seller in China, fell 6%.
Honda, as a Japanese brand, is still on the rise as a whole, thanks to the best-selling Dongfeng Honda, compared with Guangzhou Auto Honda, with a decline of more than 13%. It has to be said that Accord alone is difficult to support sales, not to mention that Accord has been recalled. Toyota, the best-selling Japanese brand, also declined in October from a year earlier, but Guangzhou Auto Toyota was slightly better, and it was embarrassing that the best-selling Carola and RAV4 were unable to sustain sales. Overall, the performance of joint venture brands was relatively mediocre in October, with the decline of Changan Ford and Changan Mazda also pulling Changan Motor from the top up to falling, with 81000 independent brands in October, up 3.9 per cent from a year earlier.
Compared with joint venture brands, independent brands performed relatively well in October, with head car companies rising year-on-year one after another, which shows that the car market is still in the doldrums. Great Wall Motor rose against the market by relying on the strong growth of the Harvard SUV series and the new energy brand Euler; there are also Geely and Chery Group performance, the most prominent is FAW Pentium and FAW Red Flag, although the overall sales are small, but the year-on-year growth of nearly 2 times is also praiseworthy.
As marginal car companies, such as Haima Automobile, because they do not have their own core competencies, they can only continue to decline with the depressed environment. Car companies such as Zhongtai and Lifan have not released the latest sales figures, but the guess will be difficult to change.
There is no doubt that luxury brands are rising all the way. This year, whether it is a first-tier luxury brand or a second-tier luxury brand, Lexus is the most prominent. Even if major netizens and consumers complain about unreasonable price increases, it is still hard to escape the law of "true fragrance".
Affected by the decline of new energy subsidies, sales of new energy vehicles have declined for several months in a row. according to statistics, since the decline of the subsidy standard for new energy vehicles on June 26, China's sales of new energy vehicles have reached "four consecutive declines" from July to October. The year-on-year declines were 4.7%, 15.8%, 34.2% and 45.6% respectively, and the decline was getting bigger and bigger. As new energy car companies, BYD and BAIC New Energy and other car companies are also doomed.
Of the more than 20 mainstream car companies that have announced sales results, only 10 have achieved positive year-on-year growth in cumulative sales in the first 10 months, among which SAIC-Volkswagen, SAIC-GM, Geely and other auto market "giants" have all experienced year-on-year decline in sales. Even though some independent brands are on the rise, Chinese brands' market share of passenger cars is also declining under the squeeze of joint venture brands. According to data from the China Automobile Association, a total of 770000 passenger cars were sold in China in October 2019, down 9.6% from the same period last year, accounting for 39.9% of the total passenger car sales, down 1.7% from the same period last year.
Nowadays, under the environment of increasing macroeconomic downward pressure and slowing down of residents' income growth, the growth period of China's rapid automobile industry has come to an end, and the new car market will enter a new normal of low-speed growth. At the same time, due to the change and upgrading of automobile consumption concept and other factors, consumers are gradually shifting from low-end homogenized products to middle-and high-end personalized products, from product consumption to equal emphasis on products and services, so only good products can be chosen by consumers.
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