AutoBeta(AutoBeta.net)04/10 Report--

On April 10, the China Automobile Association released the latest sales figures for the Chinese automobile market. In March, the production and sales of cars completed 1.422 million and 1.43 million respectively, up 399.2% and 361.4% respectively from the previous month, and down 44.5% and 43.3% respectively from the same period last year. From January to March, automobile production and sales were 3.474 million and 3.672 million respectively, down 45.2% and 42.4% respectively from the same period last year. So far, sales in China's auto market have declined for 21 consecutive months compared with the same period last year.

Among them, passenger car sales in March were 1.043 million, down 48.4 per cent from a year earlier. From January to March, sales were 2.877 million, down 45.4 per cent from a year earlier. Sales of new energy vehicles in March were 53000, down 53.2 per cent from a year earlier. 114000 vehicles were sold in January-March, down 56.4 per cent from a year earlier (excluding Tesla).

The China Automobile Association said that with the COVID-19 epidemic under effective control in China and the gradual recovery of enterprise production and operation, the current main contradiction in the domestic automobile market reflects that the demand of the consumer market urgently needs to be restored and boosted. The epidemic has caused a tremendous impact on various domestic industries, seriously affecting the income of employees, resulting in damage to the consumption capacity of cars. In addition, due to the spread of the epidemic overseas, the export of Chinese brands of cars and parts has also been affected to a certain extent, and a number of authorities have sharply cut their global car sales forecasts for 2020.

From the perspective of sales data, with the resumption of work and production, China's model sales increased significantly in March this year, but it is still in a state of decline compared with the same period last year. Geely sales rose 245 per cent to 73021 vehicles in March from a month earlier, but fell 41 per cent from a year earlier, while Great Wall sales rose 299 per cent month-on-month to 60048 vehicles in March, but fell 41.75 per cent from a year earlier.

According to the data, Chinese brand passenger car sales in March were 433000, down 48.2% from a year earlier, while market share rose 0.2% to 41.5% from January to March, down 47.3% from January to March. Market share fell 1.5% to 40.1%.

From January to March, the top 10 enterprise groups in car sales sold a total of 3.295 million vehicles, down 41.7% from the same period last year, accounting for 89.7% of total car sales. Among the top 10 companies in terms of car sales, compared with the same period last year, the sales of all ten enterprises showed a significant decline.

The China Automobile Association said that due to the impact of the epidemic, there will still be great downward pressure on China's automobile market in the future. The China Automobile Association expects the auto industry to return to the same level in the second half of last year, but it is still difficult to make up for the losses in the first quarter and the first half of the year. With the gradual implementation of relevant national policies, the successive introduction of policies by local governments to promote automobile consumption, and the efforts of automobile industry enterprises, the automobile industry will speed up its recovery in the second half of the year, but it will still be affected by uncertain factors in the progress of overseas epidemic prevention and control.

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