Brief analysis of the economic operation of the automobile industry in March 2021
1. Overview of the overall operation
From January to March 2021, the results of the overall planning of epidemic prevention and control and economic and social development in all regions and departments continue to show. Industry and exports have grown rapidly, investment and consumption have recovered steadily, employment and prices have been generally stable, basic people’s livelihood protection has been strong, and the national economy has continued Stable recovery. In this context, the automobile industry continues to maintain a good development trend.
From the perspective of the market situation, since the base number in March 2020 is still low, the production and sales of various models have shown a substantial growth in the same month year-on-year. From the perspective of subdivided models, among commercial vehicles, driven by factors such as the switch to the National Sixth Standards, regulatory over-regulation, and initiation of infrastructure projects, heavy trucks and light trucks have reached a new record in production and sales, thus driving trucks and commercial vehicles to create a history of production and sales. new highs. Compared with the cumulative historical data in 2019, the production and sales of passenger cars have declined year-on-year, and the decline has further expanded. In the context of the recovery of market consumption, consideration may be related to chip supply issues. Finally, it is worth mentioning that this month's new energy production, sales and export still broke the historical record of the month.
Looking ahead, the national economy will continue to maintain steady growth. Recently, the government has successively promulgated a number of policies to promote consumption and reduce the burden on enterprises. In the future, the implementation and coverage of the policies will be further deepened. These measures will support the continued recovery of the consumer market. It should also be noted that the recent sharp increase in raw material prices will significantly increase the cost pressure of manufacturing companies. On the other hand, the tight supply of chips and other components will continue to affect the production rhythm of enterprises. The impact is expected to be greater in the second quarter than in the first quarter. Therefore, we still need to maintain a cautiously optimistic attitude.
2. Operation of the automobile industry in March 2021
Automobile production and sales increased significantly year-on-year
In March, the production and sales of automobiles completed 2.462 million and 2.526 million respectively, an increase of 63.9% and 73.6% from the previous month, and an increase of 71.6% and 74.9% from the previous year. Affected by the low base factor in the same period this month, production and sales continued to show substantial growth year-on-year.
From January to March, the production and sales of automobiles were 6.352 million and 6.484 million vehicles, an increase of 81.7% and 75.6% year-on-year, respectively, and the growth rate was 7.2 and 0.6 percentage points lower than that in the first two months.
Compared with the data from January to March 2019, automobile production and sales increased by 0.3% and 1.8% year-on-year, and the growth rate was 2.6 and 0.9 percentage points lower than that of January and February, respectively.
The cumulative production and sales of passenger vehicles have increased compared with the same period in 2019
In March, the production and sales of passenger vehicles were 1.883 million and 1.874 million, respectively, an increase of 62.0% and 62.2% month-on-month, and an increase of 77.4% year-on-year.
From January to March, the production and sales of passenger vehicles were 4.955 million and 5.076 million, up 83.1% and 75.1% year-on-year, respectively. The output growth rate was 3.9 percentage points lower than that in January and February, and the sales growth rate was 1.1 higher than that in January and February. Percentage points.
Compared with the data from January to March 2019, passenger vehicle production and sales continued to show a decline, down 5.2% and 3.6% year-on-year, and the rate of decline expanded by 3 and 2.2 percentage points, respectively, compared with January-February.
Judging from the cumulative data of sub-models, the production and sales of SUVs are still larger than those of sedans, and the four types of models have shown substantial growth due to the low base in the same period.
In March, the sales volume of domestically produced luxury cars reached 305,000, a year-on-year increase of 74.1%. The sales volume of domestically produced luxury cars from January to March reached 829,000, a year-on-year increase of 96.6%.
Commercial vehicle production and sales hit a record high
In March, the production and sales of commercial vehicles were 579,000 and 651,000 respectively, up 70.2% and 117.9% month-on-month, and 55.2% and 68.1% year-on-year. It is worth mentioning that the heavy-duty and light-duty trucks among trucks performed strongly this month, and their production and sales hit a record high, thus supporting the production and sales of trucks and commercial vehicles to a record high.
From January to March, the production and sales of commercial vehicles were 1.397 million and 1.408 million, up 76.9% and 77.3% year-on-year, respectively. The growth rate was 19.4 and 8.9 percentage points lower than that in the first two months.
Compared with the data from January to March 2019, the production and sales of commercial vehicles increased by 26.1% and 26.9% year-on-year. The growth rate of production was 1.8 percentage points lower than that of January and February, and the growth rate of sales increased by 2.4 percentage points from January to February.
In terms of the production and sales of different models, the production and sales of passenger cars and trucks from January to March this year have shown a significant year-on-year growth.
New energy vehicles continue to refresh the historical production and sales records of the month
In March, the production and sales of new energy vehicles completed 216,000 and 226,000, respectively, representing a year-on-year increase of 2.5 times and 2.4 times, and continued to refresh the historical production and sales records of the month. Among them, the production and sales of pure electric vehicles were 182,000 and 190,000, an increase of 2.6 and 2.5 times respectively; the production and sales of plug-in hybrid vehicles were 34,000 and 36,000, an increase of 2 and 1.9 times respectively; The production and sales of fuel cell vehicles completed 45 and 59, respectively, up 18.4% and 63.9% year-on-year. From the perspective of sub-models, pure electric vehicles and plug-in hybrid electric vehicles also continued to refresh the historical production and sales records of the month.
From January to March, the production and sales of new energy vehicles were 533,000 and 515,000 respectively, a year-on-year increase of 3.2 times and 2.8 times respectively. Among them, the production and sales of pure electric vehicles were 455,000 and 433,000, an increase of 3.6 times and 3.1 times respectively; the production and sales of plug-in hybrid vehicles were 78,000 and 82,000, respectively, an increase of 1.8 times; fuel cell vehicles The production and sales of 104 vehicles and 150 vehicles were completed, a year-on-year decrease of 43.2% and 27.5% respectively.
