Pre-August Automobile Production and Sales Increased by Over 10%

Since the beginning of this year, the automotive market has continued to show a sustained growth momentum. Many car companies are preparing for gold, nine silver and ten, in order to achieve or even exceed the annual target.

According to data from the China Association of Automobile Manufacturers, auto production and sales in August were higher than the level of the previous month, which represented a growth rate of more than 10% over the same period of last year, which generally extended the fast and steady growth of the first seven months of the year. In August, China's auto production and sales completed 1,671,200 units and 1,648,900 units respectively, an increase of 5.9% and 8.7% respectively from the previous month and an increase of 11.7% and 10.3% respectively over the same period of the previous year. From January to August, the production and sales of automobiles reached 14.2122 million vehicles and 13.496 million vehicles, respectively, which represented an increase of 12.4% and 11.8% year-on-year, respectively. The growth rate was 0.1 percentage points and 0.2 percentage points lower than the previous seven months respectively.

In the automotive market segment, passenger car production and sales in August were higher than the level of the previous month, which represented a growth rate of over 10% over the same period of last year. The overall performance was better than that of the previous month. From January to August, the growth rate of production and sales of passenger cars fell slightly from the previous 7 months, and the growth rate continued to show a gradual slowdown. In August, the production and sales of passenger cars completed 1,387,800 units and 1,353,200 units respectively, an increase of 13% and 11% respectively over the same period of the previous year. From January to August, the production and sales of passenger cars completed 11,315,100 vehicles and 11,250,600 vehicles, respectively, an increase of 13.4% and 13.1% year-on-year respectively.

Although the growth rate of commercial vehicles has come down, it is still on the path of slow recovery. In August, the production and sales of commercial vehicles were completed at 289,400 units and 295.7 thousand units, up by 1.7% and 6.1% respectively from the previous month, and by 6% and 7% respectively from the same period of last year. The production and sales of commercial vehicles in June increased by 14.4% and 19.5% respectively from the same period of last year. The production and sales in July increased by 12.8% and 7.5% respectively compared with the same period of the previous year. Compared with the same period last year, the growth rate of commercial vehicles continued to fall. In commercial vehicles, the production and sales of tractor-trailers increased by more than 20% over the same period of last month and the same period of last year, with the most significant increase. According to statistics from the China Association of Automobile Manufacturers, the production and sales of commercial vehicles completed 2.6611 million vehicles and 2.691 million units in January-August respectively, an increase of 8.4% and 6.8% respectively from the same period of the previous year. The growth rate of production fell slightly from the previous 7 months, and sales volume increased. The speed is basically flat. Among the commercial vehicle models, the growth rate of semi-trailer tractors' production and sales was 27% and 21.3%, respectively. The growth rate continued to increase over the first 7 months; the growth rate of passenger cars and trucks fell slightly; the growth rate of non-completed trucks was higher than the top 7 Month level; bus non-complete vehicles are lower than the same period last year.

With the changes in the commercial vehicle and passenger vehicle markets, the performance of the strong auto group has also changed. Since the beginning of this year, the performance has maintained growth, but the growth rate of some indicators has declined. From January to August of this year, the sales volume of the top 10 car group companies totaled 12,373,400 units, an increase of 13% over the same period of the previous year, and 1.2% higher than the industry-wide growth rate. It accounted for 88.5% of the total sales of automobiles, an increase of 0.9% over the same period of last year.

From January to July, the key enterprises of the automobile industry (group) Express reported that the main economic indicators of 17 key enterprises (groups) showed a different growth, and the increase of some indicators had dropped from January to June. Among them, total operating income from January to July totaled 1.57 trillion yuan, an increase of 13% year-on-year, and an increase of 0.9 percentage points from the previous six months; total profits and taxes were 282.802 billion yuan, a year-on-year increase of 18.5%, and a decrease of 2.7 points over the previous six months. Percentage points; cumulative total industrial output value 1.39 trillion yuan, an increase of 14.1%, a decrease of 0.3 percentage points over the previous six months.

At the end of July, accounts receivable from key enterprises (groups) of the automobile industry amounted to 192.57 billion yuan, a year-on-year increase of 31.2%, which was a decrease from the end of June. At the end of July, the inventory of key finished goods (group) of automobile industry was 75.2 billion yuan, an increase of 1.4% over the same period of last year.