New energy vehicle production and sales continue to grow rapidly

New energy vehicle production and sales continue to grow rapidly

On March 10, the China Association of Automobile Manufacturers announced the production and sales of the automotive market in February. Affected by the Chinese New Year holiday, auto production and sales volume declined compared with January, which was basically the same as that of the same period of last year. New energy vehicles continued their rapid growth year-on-year, with production and sales increasing about three times year-on-year, but they have dropped sharply from the end of 2014. Dong Yang, executive vice president and secretary-general of the China Association of Automobile Manufacturers, stated that the higher production and sales data of new energy vehicles at the end of 2014 may be related to the subsidy withdrawal mechanism.

Increase in own brand share

According to the data released by the China Association of Automobile Manufacturers, in February 2015, the output of automobiles was 6,631,800, a decrease of 28.7% from the previous month and a year-on-year decrease of 0.4%. The sales volume was 1,593,300, a decrease of 31.3% from January and a decrease of 0.2% from the same period of last year. .

According to Chen Shihua, a spokesperson for the China Automobile Association, the automobile production and sales data for February decreased slightly year-on-year, which was mainly due to the impact of the Chinese New Year holiday and a big drop from the production and sales figures for January. In addition, the growth rate of production and sales in the first two months of 2015 decreased by 5.2 percentage points and 6.5 percentage points from the same period of last year.

In February, the production and sales of passenger cars still maintained a certain degree of growth, mainly driven by the SUV and MPV, which continued the changing trend of the passenger car market. SUV models produced 1.4122 million units in February, with sales of 1.396 million units. Production and sales volume increased by 5.5% and 6.4% respectively from the same period last year.

The performance of self-owned brands continued to pick up, especially for SUVs and MPVs. In February 2015, sales of self-owned branded SUVs increased by 94.7% year-on-year, market share increased by 16.1 percentage points, and sales of own-branded MPVs increased by 21.3% year-on-year.

As a whole, the passenger car market share continued to rise. The total sales of self-owned brands continued to increase, with a total of 605,200 units sold, a year-on-year increase of 19.7%, far higher than the overall growth rate of the passenger car market. The market share reached 43.3%, an increase of 4.8 percentage points year-on-year. . However, the crossover passenger vehicle market dominated by independent brands continued to shrink, with production and sales falling by 15.8% and 18% respectively.

The production and sales volume of commercial vehicles witnessed a significant decrease from the previous month and the same period of last year. The main reason was that the production and sales volume of trucks continued to decline, and the production and sales volume of trucks fell by nearly 30% year-on-year, even lower than the level of 2013. Among them, heavy trucks fell the most, down nearly 50% year-on-year.

New energy car in March or welcome turning point

In February of this year, new energy vehicles produced a total of 6,190 vehicles and sold 6,045 vehicles, an increase of 2.7 times and 3 times year-on-year respectively. Among them, 3061 were pure electric vehicles and 2,890 were sold, which increased by 2.8 times and 4 times respectively. The production and sales of plug-in hybrid vehicles increased by 2.7 times and 2.4 times year-on-year respectively.

It is worth noting that the production and sales volume of new energy vehicles have significantly decreased compared with the figures for November and December last year. In November 2014, 9,728 new energy vehicles were produced. In December, the output of new energy vehicles exceeded 27,000 vehicles. However, the production of new energy vehicles in the first two months of 2015 maintained at more than 6,000 vehicles. In this regard, Dong Yang, Secretary-General of China Automobile Association, explained that the subsidy for new energy vehicles implements a slope retreat mechanism. Some enterprises will enter new energy vehicles produced in January 2015 into the year 2014 in order to enjoy the subsidy policy.

Dong Yang emphasized that the production and sales figures for March and April of this year are very important. If the data level of 2014 can be maintained, the growth of new energy vehicles is still full of momentum, but if the subsequent production and sales data is still maintained at the level of 6,000 vehicles, Then "may have a problem."

According to the principle of “subsidy and slope retreat” for new energy vehicles in China, the amount of subsidies in 2015 will be reduced by 10% compared with 2013, which has resulted in a significant increase in the production and sales volume of new energy vehicles in 2014. Experts pointed out that with the gradual opening of market-oriented applications, the “policy dividends” of new energy vehicles will gradually decrease.

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