Operation of automobile industry in November 2022

With the increasing downward pressure on the economy and the impact of the epidemic on the automobile consumer market, the release of consumer demand for cars is blocked, the terminal market is weak, and the supply side is slowing down, bringing greater pressure to the stable operation of the automobile market. In November, auto production and sales were slightly weak, showing a decline on a month on month basis and a year on year basis. The downward trend was obvious, and the overall performance was less than expected. Among them, the production and sales of passenger cars decreased by more than 7% month on month, and also showed a certain decline year-on-year; Commercial vehicles continued to hover at a low level, showing a double-digit decline year-on-year; The production, sales and export of new energy vehicles continued to enjoy a good momentum.

1、 The overall performance of automobile production and sales is lower than expected

In November, the production and sales reached 2.386 million and 2.328 million respectively, down 8.2% and 7.1% month on month, and 7.9% year on year. Compared with last year and the year before last, auto production and sales were slightly weak, and there was no tail raising phenomenon at the end of the previous year.

From January to November, the production and sales of automobiles were 24.628 million and 24.302 million, up 6.1% and 3.3% year on year respectively. The growth rate from January to November was significantly lower than that from January to October, down 1.8 and 1.3 percentage points respectively.

2、 The production and sales of passenger cars declined year-on-year 

In November, the production and sales of passenger cars were 2.151 million and 2.075 million respectively, down 7.8% and 7% month on month, down 3.9% and 5.6% year on year. Among them, the domestic sales volume of traditional fuel passenger vehicles was 1.147 million, a year-on-year decrease of 483000, a year-on-year decrease of 16.8% and 29.6%.

From January to November, the production and sales of passenger cars were 21.702 million and 21.292 million respectively, up 14.7% and 11.5% year on year respectively, and the cumulative growth slowed down. Affected by the epidemic, both the wholesale end and the terminal market are under great pressure. The halving of purchase tax this year promoted the consumption policy, which played a significant role in stabilizing the growth of the car market, but the epidemic situation in the second half of the year affected the implementation effect of the policy.

In November, the sales volume of high-end brand passenger cars produced in China reached 380000, a year-on-year increase18.2%。 The year-on-year growth rate exceeded the passenger car market by 23.8 percentage points. From January to November, the sales volume of high-end brand passenger cars produced in China reached 3.511 million, up 12.7% year on year. Under the impact of the epidemic, high-end brands still maintained strong market resilience and performed well overall. 

3、 The commercial vehicle market is hovering at a low level 

In November, commercial vehicles remained at a low level. In the same month, the production and sales of 235000 and 253000 vehicles were completed, down 11.2% and 7.5% month on month, 33.4% and 23.4% year on year respectively. Among the main varieties of commercial vehicles, compared with last month, the production of passenger cars decreased, the sales volume increased slightly, and the production and sales of freight cars decreased; Compared with the same period of last year, the production and sales of passenger cars and freight cars decreased to varying degrees, especially for freight cars.

From January to November, the production and sales of commercial vehicles were 2.927 million and 3.01 million, respectively, down 31.9% and 32.1% year on year, continuing to show a double-digit decline. Among the main varieties of commercial vehicles, the production and sales of passenger cars and trucks declined rapidly compared with the same period last year. 

4、 New energy vehicles set a new record 

In November, the production and sales of new energy vehicles were 768000 and 786000, up 65.6% and 72.3% year on year, respectively, with a market share of 33.8%.

From January to November, the production and sales of new energy vehicles were 6.253 million and 6.067 million respectively, a double year-on-year growth, and the market share reached 25%.