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[Cohn] China Automotive Industry Association revealed that the decline in China's automobile production and sales has slightly expanded
- 2019-06-11-

According to Cohen’s disclosure on the 13th by the China Association of Automobile Manufacturers, it was learned that the decline in China’s automobile production and sales from January to April this year was slightly larger than that in January-March. It is expected that China's automobile production and sales will reverse in July-August this year.

From January to April 2019, the decline in China's automobile production and sales was slightly larger than that in January-March. It is expected that automobile production and sales will reverse in July-August. According to analysis, the main reason for the current downturn in the auto market is the lack of consumer confidence. Consumers’ wait-and-see attitudes are evident due to the expectation of stimulating consumption policies. However, with the gradual landing of tax reduction and fee reduction policies, the role of infrastructure investment in the consumer market will gradually emerge. Therefore, the China Association of Automobile Manufacturers is full of confidence in the stable development of the automobile market throughout the year.

From January to April, China's automobile production and sales were 8,838,600 and 8,,533,000, down 10.98% and 12.12% year-on-year. Compared with January-March, the decline was 1.17 percentage points and 0.80 percentage points respectively. Among them, the production and sales of passenger vehicles decreased by 13.56% and 14.65% year-on-year, and the production and sales of commercial vehicles increased by 3.13% and 1.49%.

In April, China's auto industry continued to bear the pressure of rapid decline. The overall decline in the industry's production and sales has not been effectively alleviated. The sales and sales of automobiles in the month showed a rapid decline.

According to analysis, the main reason for the current downturn in the auto market is the lack of consumer confidence. Consumers’ wait-and-see attitudes are evident due to the expectation of stimulating consumption policies. However, with the gradual landing of tax reduction and fee reduction policies, the role of infrastructure investment in the consumer market will gradually emerge. Therefore, the China Association of Automobile Manufacturers is full of confidence in the stable development of the automobile market throughout the year.

It is worth mentioning that the development of new energy vehicles in China is still fast. From January to April, the production and sales of new energy vehicles in China were 367,600 and 360,000 respectively, an increase of 58.47% and 59.79% over the same period of the previous year. Among them, the production and sales of pure electric vehicles increased by 66.05% and 65.20% respectively over the same period of last year. The production and sales of plug-in hybrid vehicles increased by 36.32% and 43.66% respectively over the same period of last year.

As of April 2019, the member units of the China Electric Vehicle Charging Infrastructure Promotion Alliance reported a total of 391,000 public charging piles. In April 2019, the number of public charging piles increased by 7644 in March 2019. From May 2018 to April 2019, about 10,748 new public charging piles were added every month, and 49.2% in April 2019.

 

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