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2024-09-08 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)04/10 Report--
In March, China's auto market gradually entered a normal state of operation, but due to the depressed market demand, new car sales recovered slowly. According to the report of the China Automobile Association, China's automobile production and sales completed 1.422 million and 1.43 million respectively in March, down 44.5% and 43.3% respectively from the same period last year. So far, automobile production and sales have completed 3.474 million and 3.672 million respectively from January to March, with production and sales falling by 45.2% and 42.4% respectively compared with the same period last year. The China Automobile Association believes that with the gradual implementation of relevant national policies and the successive introduction of policies by local governments to promote automobile consumption, the automobile market will speed up the recovery.
Under such circumstances, the market generally believes that the impact on joint ventures is relatively low, but on the whole, a number of joint ventures did not perform well in March, falling by more than 43.3% of the industry average. including mainstream joint ventures such as SAIC-Volkswagen, SAIC-GM, Guangzhou Automobile Honda and Dongfeng Nissan, their sales have all been halved.
SAIC Volkswagen plummeted 64%
On the evening of April 10, SAIC disclosed the March production and sales reports of its companies. SAIC-Volkswagen, the main source of SAIC sales, suffered a huge drop of 64% in March.
SAIC-Volkswagen sold only 60, 000 vehicles in March, compared with 166900 in the same period last year, down 64 per cent from a year earlier and well above the industry average of 43.3 per cent, according to the data. SAIC-Volkswagen sold only 183000 vehicles from January to March, down 61% from the same period last year and exceeding the industry average of 42.4%.
For a long time, SAIC-Volkswagen's Passat, Lang Yi, Santana and Tuguan L star products all provide core sales, and SAIC-Volkswagen sales are among the top three in the industry for the contribution of the Kodak brand in Outer Garth. However, under the influence of the market environment and epidemic situation, and consumers pay more attention to word-of-mouth, quality and other factors, SAIC Volkswagen seems to be "excluded" from the market, and its sales volume has dropped sharply.
SAIC-Volkswagen won the top spot in China's auto market for four consecutive years from 2015 to 2018. FAW-Volkswagen took the throne in 2019, but SAIC-Volkswagen still sold 2.01 million vehicles. SAIC-Volkswagen now accounts for only 9% of last year's sales in the first quarter of 2020, and the pressure on the target completion rate will be huge.
SAIC GM fell 69%
In 2020, SAIC GM has continued the trend of sharp decline in sales, and its primary goal should be to "stop falling". SAIC reported that SAIC GM sold 46000 vehicles in March, down 69% from a year earlier, also well above the industry average and almost the biggest decline among mainstream joint ventures. From January to March, SAIC GM sold about 180000 vehicles, down 58 per cent from a year earlier.
SAIC GM faced the competitors of Volkswagen joint ventures a few years ago, but with the product upgrading, the brand reputation has been thwarted, the product power has declined seriously, and the market sales are mostly maintained by the huge discounts of the terminal.
From the perspective of the three major brands of SAIC GM, the Buick brand and the Chevrolet brand compete with each other, and the competitive price of the main selling car has fallen sharply. In addition to the declining factor of brand premium, the strategy of large-scale replacement of three-cylinder engine also affects the price. The luxury brand Cadillac has already entered the "price for volume" state, the continued competitiveness of the brand has been frustrated, the luxury car market in 2019 against the trend growth, Cadillac has declined.
With the continuation of the decline, SAIC GM will lose more market share in 2020.
Guangzhou Auto Honda halves
According to data released by Honda China, GAC Honda's terminal sales in March were 32000, down 50 per cent from a year earlier and above the industry average, while cumulative sales from January to March were 116000, down 36 per cent from a year earlier. Dongfeng Honda is late in Wuhan to resume work, but Guangzhou Auto Honda, which has already returned to work, has also fallen by 50%, making it difficult for Honda to achieve its annual target.
Guangzhou Auto Honda has Accord, Ling Pai, colorful Intelligence, Guandao and other products, the newly listed Haoying has made up for the compact SUV market segment, but the current boost to sales of new cars is not obvious.
Dongfeng Nissan fell 46.7%
According to the latest sales figures released by Nissan in China, Dongfeng Motor Co., Ltd's passenger car sector, including Dongfeng Nissan and Dongfeng Qichen, reached 55400 vehicles in March, down 46.7% from January to March compared with 169400 vehicles sold in January-March and down 40.4% compared with the same period last year.
In terms of specific models, Teana sold 4404 units in March, new and old Xuanyi sold a total of 25181 units, Qijun sold 6018 units, and Xiaoke sold 6323 units. Compared with the recovery of the overall market, the recovery of the Nissan brand is relatively slow.
In addition, including joint ventures such as SAIC GM Wuling, Guangzhou Automobile Mitsubishi and Dongfeng Renault, the decline in sales in March also exceeded the industry average. On the contrary, some first-tier joint venture brands and luxury brands performed brightly, falling below the average.
Among them, FAW-Volkswagen sold 116000 vehicles in March, the only company that sold more than 100000 vehicles in that month, down 25% from the same period last year; Guangzhou Auto Toyota sold 49000 vehicles in March, down 10% from the same period last year; FAW Toyota sold 40, 000 vehicles in March, down 28%. Brilliance BMW and Beijing Mercedes-Benz sold 35000 and 34000 vehicles respectively, down 22.7 per cent and 31 per cent respectively.
The Federation said that in extraordinary times, the Matthew effect of the car market is more prominent and the degree of concentration is getting higher and higher. It will be very difficult for some joint venture car companies to get back the market share they have lost.
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