Trade Risk Alert

On December 8, the latest data released by the Passenger Car Market Information Joint Conference showed that in November this year, domestic passenger car retail sales were 2.081 million, a year-on-year increase of 8%; in the first 11 months, the cumulative domestic passenger car retail sales were 17.002 million, a year-on-year decrease of 8.3.
Cui Dongshu, secretary-general of the Passenger Car Market Information Association (hereinafter referred to as the "Passenger Car Association"), said that not only in November, but since July this year, the domestic passenger car market has maintained a year-on-year growth rate of about 8%. This shows that the domestic automobile industry has been steadily picking up. Behind the steady recovery, on the one hand, it is due to the recovery of the macroeconomic and export markets that has exceeded expectations, on the other hand, new energy vehicles are becoming the core driving force for the overall recovery of the passenger car market.
In terms of models, in November this year, domestic car retail sales were 1.006 million, a year-on-year increase of 8.3; MPV retail sales were 112000, a year-on-year decrease of 4.1; SUV retail sales were 964000, a year-on-year increase of 9.3.
In terms of brands, in November this year, the retail sales of independent brands increased by 9% year-on-year, 9% month-on-month, and the market share was 39.1; the retail sales of mainstream joint venture brands increased by 3% year-on-year and 1% month-on-month; the retail sales of luxury brands increased by 27% year-on-year, An increase of 5% from the previous month.
In terms of manufacturers, in November this year, FAW-Volkswagen's retail sales volume was 223000, ranking first in the sales list of domestic passenger car manufacturers. SAIC-Volkswagen, SAIC-GM, Geely Automobile, and Dongfeng Nissan ranked second to fifth with 151000, 145000, 139000, and 136000 vehicles respectively.
In terms of new energy vehicles, in November this year, domestic retail sales of new energy passenger vehicles were 169000, an increase of 136.5 percent over the same period last year and 26.8 percent month-on-month. Among them, the sales volume of plug-in hybrid vehicles was 26000, with a year-on-year increase of 98.1, while the sales volume of pure electric vehicles was 142000, with a year-on-year increase of 145.4.
The passenger association believes that such a large increase in domestic sales of new energy vehicles in November is not unrelated to Beijing's additional issuance of new energy passenger car indicators and Shanghai's introduction of new traffic restrictions.
In June of this year, the Beijing Municipal Commission of Transportation announced that 20000 new energy passenger car indicators will be issued at one time during the year, all for eligible families. It is understood that the families in the top 20000 of the points ranking have received indicator confirmation notices issued by the indicator management agency since October 1.
At the same time, in October this year, Shanghai issued a new policy of strict restrictions on foreign license plates. With the release of the new traffic restriction policy, in the ordinary "Shanghai" brand is difficult to shoot and the new energy vehicle licensing policy has not been tightened, new energy vehicles have become the "sweet cake" in the eyes of more and more Shanghai consumers ".
It is worth noting that in November this year, the top three brands in new energy vehicle sales were SAIC-GM-Wuling (36000 vehicles), BYD (177.970, 2.68, 1.53 percent) (26000 vehicles) and Tesla (21600 vehicles). The combined share of the three car companies in the new energy vehicle market is as high as 46.5 percent.
In terms of exports, in November this year, my country's passenger car exports were 82000, a year-on-year increase of 87.3. Among them, the export volume of self-owned brand passenger cars reached 70000, a year-on-year increase of 108, and the export volume of SAIC Passenger Cars, Geely Motors, Great Wall Motors (25.890, 0.85, 3.39) and Chery Automobile all increased by more than 100 year-on-year; joint venture brand The export volume of passenger cars was 12000, a year-on-year decrease of 37%.
Cui Dongshu said that December this year is the traditional winter sales period for my country's passenger car market, especially the low-and medium-priced self-owned brand models will be more popular. In addition, the local consumption promotion policies of many provinces and cities will expire at the end of the year, which will also have a certain stimulating effect on automobile consumption at the end of the year. Combined with the sales trend in the first 11 months of this year, the cumulative retail sales of domestic passenger cars this year should decline by about 7% compared with the same period last year.

Beijing Business Daily