AutoBeta(AutoBeta.net)03/11 Report--

As we all know, February is the critical period for the prevention and control of COVID-19 's epidemic situation, and the "anti-epidemic" measures and the continuous strengthening of prevention and control efforts in various places have led to the overall car market in a state of ice in February this year, causing irreparable losses to car sales. Even the country's two biggest autonomous car companies are not alone, with sales falling more than 70 per cent in February, according to sales figures released by Geely and Great Wall.

Geely released its latest sales figures on March 9, which showed that Geely (including Geely, Lecker and Geometry) sold 21168 vehicles in February, down 75 per cent from the same period last year to 133006 in January-February, down 45 per cent from a year earlier.

In terms of specific models, Geely's SUV, sedan and MPV models all declined to varying degrees. Of these, SUV sold 11934 cars in February, which is still the mainstay of Geely; car sales increased to 8321 in February; and MPV sold 913. In addition, Geely's new energy sales were 6421, while export sales were 4847, down 59 per cent from a year earlier.

In order to promote sales growth, Geely plans to launch a number of new cars in China in 2020, including Geely Haoyue, Lectra 06, Geometry C and other models.

Great Wall, second only to Geely, also announced its February production and sales of KuaiBao. KuaiBao showed that production and sales of Great Wall cars in February were 10010 and 10023 respectively, down 85.44% and 85.48% respectively from a year earlier; cumulative production and sales in the first two months were 86547 and 90284, down 52.18% and 50.05% from a year earlier.

Great Wall owns four brands: Harvard, WEY, Great Wall and Euler. In terms of specific brands, the Harvard brand, which is the main sales force, produced and sold 7190 and 7148 vehicles respectively in February, down 85.2 per cent and 85.5 per cent from a year earlier. H6 and F7 are still the main models of the Harvard brand, with cumulative sales of 6091 vehicles. The WEY brand produced and sold only 400 and 451 vehicles in February, down 93.63% and 92.73% respectively from the same period last year. The Great Wall pickup truck is still the best seller of the Great Wall Cannon, with a cumulative sales of 6588 units from January to February this year. The new energy vehicle brand Euler produced and sold 324 and 256vehicles respectively in February, down 91% and 92.2% from the same period last year.

In 2019, Geely just met the annual sales target of 1.36 million vehicles set in 2019, and set a sales target of 1.41 million vehicles in 2020, which is 9% of the sales target. The cumulative sales of Great Wall cars in 2019 is 1060298 vehicles. The 2020 sales target is 1.11 million, and 8 per cent of the sales target has been achieved. Less than 10% of sales are completed in two months, and the annual sales target completion rate is difficult to predict. But then again, according to the current state of the car market, it is very difficult for most car companies to meet the sales targets set this year.

According to the latest sales data of the Federation of passengers, affected by the COVID-19 epidemic, the production and sales of narrow passenger cars in China in February this year were 215000 and 252000, respectively, down 80.6% and 78.5% from the same period last year. According to the data, Geely's sales fell 75% in February from a year earlier, but still "outperformed the market." As an independent brand second only to Geely, Great Wall has a responsibility of up to 85%, but its re-sales are OK.

Judging from the sales data disclosed by the major car companies, the sales volume of the major car companies declined sharply in February, with a general decline of more than 70%. Cui Dongshu, deputy secretary general of the Federation of passengers, said that judging from the end of the epidemic at the end of April, the rate of recovery of the car market in the next two months was still relatively slow, and the overall car market was expected to return to normal after May. Without strong stimulus policies at the national level, the car market is expected to decline by 8% in 2020 compared with the same period last year.

At present, the stimulus policy at the national level is still unclear, but many provinces and cities have issued car purchase policies, including cars to the countryside, new energy car purchase subsidies and other ways to stimulate automobile market consumption.

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