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2024-11-05 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)06/15 Report--
In May, China's auto industry recovered significantly, and some consumers 'suppressed demand also accelerated to release, and the auto market ushered in a short-term boom. According to the data of China Automobile Association, China's automobile production and sales completed 2.187 million and 2.194 million vehicles respectively in May, up 4% and 5.9% month-on-month and 18.2% and 14.5% year-on-year respectively.
However, affected by the multi-month epidemic, the overall automobile industry environment is still grim. 1-5 In January, China's automobile production and sales completed 7.787 million and 7.957 million respectively, with production and sales falling by 24.1% and 22.6% respectively.
At the same time, China Automobile Association released the latest market share ranking, independent brands still ranked first in market share, but fell sharply year-on-year; while German and Japanese brands rose.
In May, 571,000 Chinese-branded passenger cars were sold, up 0.4% year-on-year, accounting for 34.1% of total passenger car sales, down 2.2 percentage points from the same period last year. The monthly market share of 34.1% has almost fallen to its lowest level in recent years.
1-5 In September, 2.264 million Chinese brand passenger cars were sold, down 32.5% year-on-year, accounting for 37.1% of total passenger car sales, down 2.8 percentage points from the same period last year.
Chinese automobile brands present a situation of "strong stability, weak elimination". The head Chinese brands Geely Automobile, Great Wall Automobile and Chang 'an Automobile all achieved sales growth in May, but the backward brands fell into business difficulties, and the sales volume dropped sharply repeatedly.
On the contrary, German and Japanese brands have risen in market share, becoming the two biggest winners in China's auto market in 2020.
German brands accounted for 25% of total passenger car sales in China from January to May, mainly due to the stable market play of Volkswagen brand cars and the high growth of German luxury brands in the market. Mercedes-Benz officials said more than 70,000 passenger cars (both domestic and imported) were sold in China in May and achieved double-digit growth.
Toyota, Honda and other Japanese brands continue to exert their strength. From January to May, the proportion of Japanese brands in China is as high as 23.2%. The stable market performance of Japanese automobile enterprises is related to their brand marketing, technology investment, product strategy and so on. China's auto market will decline for three consecutive years, while Japanese auto companies continue to increase investment in China.
Japanese automobile enterprises basically recovered high growth in May, among which Toyota sold 166,300 vehicles in China in May, up 20.1% year-on-year; Nissan sold 130,000 vehicles in May, up 6.7% year-on-year; Nissan sold 22,900 vehicles in May, up 31.6% year-on-year; and Honda sold 134,000 vehicles in May, down 1.7% year-on-year.
The market share of Korean brands and legal brands in China also declined, with Korean brands accounting for 4.1% of the market share from January to May and legal brands falling to only 0.3%.
From the analysis of market share of each department, we can also predict the market trend of each brand. At present, the brand differentiation is more prominent in the stock competition. From the perspective of industry pattern, the concentration degree of the market is constantly improving, and weak brands are facing elimination.
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