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Just ended five consecutive falls to achieve growth of the auto market, the first half of this year again downward. According to the data of the Passenger Association, the accumulated sales volume of narrow passenger cars in the first half of 2022 was 9.261 million vehicles, down 7.2% year-on-year. Except for the year-on-year growth of 22.7% in June, the sales volume in other months declined year-on-year, especially in April, when the sales volume fell by 35.5% year-on-year. The automobile consumption in Shanghai, Jilin and other places stagnated, with a decrease of 16.9% in May.

Although the sales volume increased in June, it was largely due to the policy support of the state and local governments, the stimulation of the traditional fuel vehicle purchase tax halving policy, and the obvious growth of the domestic passenger car market. Secondly, the epidemic situation has been effectively contained, lagging production capacity and consumption demand have been released.

Chip supply and epidemic prevention and control have hit automobile production and sales hard, and major brands are not immune. German car sales fell 19.5% year-on-year to 1,996,700 vehicles in the first half of the year, Japanese cars fell 13.9% year-on-year to 1,969,500 vehicles, American cars fell 18.7% year-on-year to 796,800 vehicles, while Korean cars became more difficult, with sales falling 43.6% year-on-year to 159,700 vehicles, according to the association. Only legal brands and Chinese brands achieved growth, among which legal brands increased by 61.0% year-on-year to 59,100 vehicles, and Chinese brands increased by 11.0% year-on-year to 4.1934 million vehicles, with a market share of 45.3%, a record high.

Although the sales volume of self-owned brands increased by only 11.0% in the first half of the year, compared with German and Japanese brands, they obviously outperformed the market, and the reason why self-owned brands could outperform German and Japanese joint venture brands was largely due to the rapid growth of new energy vehicles. According to the data of the Passenger Association, in the first half of 2022, the sales volume of domestic new energy narrow passenger vehicles was 2.247 million, with a year-on-year growth of 122.4%, among which the sales volume of self-owned brand new energy passenger vehicles increased by 140.8% to 1.876 million vehicles year-on-year, accounting for 83.5%, while the sales volume of mainstream joint venture new energy passenger vehicles increased by 88.0% to 128,000 vehicles year-on-year, accounting for only 5.7%. According to the sales ranking of new energy automobile manufacturers released by the Association, there are only three wholly owned/joint venture automobile enterprises among the top 15 automobile enterprises, including Tesla China, FAW-Volkswagen and SAIC Volkswagen, and the others are Chinese brands.

According to the sales list of Chinese brands in the first half of the year according to the statistics of "Automobile Industry Attention," BYD, Chang 'an, Chery, GAC Ai' an, Dongfeng Fengshen, Euler, Tank and new power brands Xiaopeng, Nezha, Ideal, etc. all realized growth. Most of them were the main new energy automobile brands, especially BYD. The cumulative sales volume in the first half of the year increased by 146.95% year-on-year to 587125 vehicles, even surpassing Tesla to become the global new energy automobile sales champion. As for the decline, the worst in the list is Haval, the cumulative sales volume in the first half of the year fell 38.68% year-on-year to 233323 vehicles, which is the brand with the largest decline under Great Wall Motor, followed by Mingjue, which fell 30.65% year-on-year to 55420 vehicles in the first half of the year, while Geely, Roewe, Linke, Chang 'an Auchan and so on fell by more than double digits.

German-Japanese is the support of mainstream joint venture brands, but in the first half of the year, German-Japanese cars all declined, among which German cars fell 19.5%, market share was 21.6%, Japanese cars fell 13.9%, market share was 21.3%.

German series mainly comes from SAIC Volkswagen, FAW Volkswagen, Beijing Benz and Brilliance BMW. Due to the impact of epidemic situation in Shanghai and Tianjin, many German automobile enterprises reduce production or stop production, resulting in sales volume falling, among which FAW-Volkswagen fell 15.9% in half a year, SAIC Volkswagen fell 27.3%, Brilliance BMW fell 14.3%, but at present, epidemic prevention and control in Shanghai and Tianjin has been contained, and the production capacity of the above-mentioned automobile enterprises has been effectively released.

In addition to Germany, although Japanese joint venture brands dominated by GAC Toyota, FAW Toyota, GAC Honda, Dongfeng Honda and Dongfeng Nissan have not been deeply affected by the epidemic except FAW Toyota, the above Japanese joint venture brands are also having a hard time due to the impact of Tianjin and Shanghai epidemics. Among them, only GAC Toyota has achieved growth, while Dongfeng Nissan, GAC Honda, FAW Toyota and Dongfeng Honda have all declined, especially Dongfeng Honda, whose sales in the second half of the year have declined by 22.3% year-on-year. Dongfeng Nissan fell 21.9% year on year.

As for American brands, they can only rely on SAIC GM, Changan Ford and Tesla in the Chinese market, but SAIC GM, which is the main source of sales, has a hard time. Data show that in the first half of the year, SAIC GM's Buick fell 39.3%, Cadillac fell 34.0%, Chevrolet fell 31.0%. Chang 'an Ford, another joint venture brand, fell 16.5% in the first half of the year. During the year, Chang' an Ford launched a new generation of Mondeo, mid-term modified Fox, brand-new Explorer and other models. At present, Mondeo has achieved preliminary results, but it remains to be seen whether Chang 'an Ford can be saved. At present, Tesla is the only source of growth for American cars, with sales in China up 49.9% year-on-year in the first half of the year, and Model 3 and Model Y continue to be in short supply. A few days ago, the US-based joint venture brand GAC Fick has announced its withdrawal from China, and both shareholders are negotiating to terminate local production.

In contrast, the performance of Korean cars in the first half of the year can only be described as "terrible", down 43.6% year-on-year to 159,700 vehicles, Beijing Hyundai and Dongfeng Yueda Kia struggling to support. Data show, Beijing Hyundai sales in the first half of the year 109768 vehicles, Year-on-year nearly cut, And Dongfeng Yueda Kia only 50155 vehicles, Year-on-year decline 38.89%. It is worth noting that Dongfeng Yueda Kia has ceased to exist. Dongfeng Motor previously listed and transferred its DYK shares, and then Dongfeng Motor withdrew from DYK Company. Dongfeng Yueda Kia also changed its name to Kia Automobile. At present, the new car has been declared in the Ministry of Industry and Information Technology, with the tail label of "Yueda Kia".

Since Dongfeng Renault delisted, DPCA has become the representative of the legal brand. In the first half of the year, Dongfeng Peugeot declined by 33.33% year-on-year, while Dongfeng Citroen increased by 83.72% year-on-year, making DPCA sales continue to grow. Data show that Versailles C5X accumulated sales of 19682 vehicles in the first half of the year, which is the best-selling model of Shenlong Automobile. However, if Shenlong wants to reverse, it can't rely solely on Versailles C5X, it needs to build other explosive products, and the new Peugeot 408 is regarded as the second explosive model, but whether it can explode remains to be tested by the market.

On the whole, the overall decline of China's auto market in the first half of the year, but the rise of Chinese brands against the trend, largely due to the continuous growth of new energy vehicles, while the market share of German and Japanese brands declined, mainly due to the impact of epidemic situation and parts supply, I believe there will be a significant improvement in the second half of the year. However, if Germany and Japan want to keep the market, they must speed up the launch of new energy vehicles. Although Chinese consumers do not trust new energy sources, it turns out that new energy vehicles do have strong aftermarket explosive capacity. As for the Korean and American families, they could only pray for their own blessings.

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