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Automobile sales fluctuated slightly in January, consumption upgrade trend accelerated significantly | New Energy Vehicles_Sina Finance_Sina.com

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Automobile sales fluctuated slightly in January, consumption upgrade trend accelerated significantly | New Energy Vehicles_Sina Finance_Sina.com

Automobile sales fluctuated slightly in January, consumption upgrade trend accelerated significantly

Article source: China Consumer Daily Date: 2023-02-16 Browse 9 Second-rate

After the auto market started with positive growth in the first month of last year, whether the domestic auto market can continue this performance in January this year has attracted the attention of the consumer market.

On February 10, the latest auto sales data released by the China Association of Automobile Manufacturers showed that in January, the auto market performed relatively flat, with car sales of 1.649 million units, a year-on-year decrease of more than 30%.

The auto market did not welcome a “good start” in January

Judging from the sales results alone, it seems that the development of the domestic auto market has encountered certain resistance, but such market performance is not beyond the expectations of the industry. The China Association of Automobile Manufacturers explained that due to the withdrawal of preferential policies on the purchase tax of traditional fuel vehicles and subsidies for new energy vehicles, as well as the impulse effect of manufacturers at the end of the year, some consumers overdrafted their needs in advance, and at the same time superimposed the factors that this year’s Spring Festival holiday was brought forward to January. The production and operation time of enterprises has been reduced, which has affected the sales volume of the automobile market to a certain extent.

In fact, considering the simultaneous withdrawal of the state subsidies that have been implemented for many years and the preferential policy of halving the purchase tax of traditional fuel vehicles, 2023 is generally considered by the outside world to be the “big year” for the policy switch in the auto market. For example, the new energy vehicle market, which has been developing rapidly in recent years, has undergone many changes such as the “recession” of state subsidies, the cancellation of local subsidies, and the cancellation of state subsidies. Every policy change will have an impact on the development of the automobile consumer market.

Because of this, as early as the fourth quarter of 2022, the industry had predicted that the auto market would fluctuate in the first quarter of this year. Facts have proved that the final trend has verified people’s judgment.

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Careful observation shows that even though the auto market has not ushered in a “good start”, considering the overall operation rules of the auto market and the actual performance of market segments, the domestic auto market still has many bright spots at the beginning of the year. Data show that in January, domestic car sales still achieved an increase of 11.3% compared with the Spring Festival month of 2019. The China Association of Automobile Manufacturers believes that from a long-term perspective, my country’s economy continues to recover, and the production and operation activities of the manufacturing industry are running steadily, which provides strong support for the growth of the auto market.

New energy vehicles promote the recovery of the auto market

In recent years, under the strong offensive of electrified products, the market share of independent brands has been significantly increased. Last year, self-owned brand passenger vehicles accounted for 50% of the total, evenly split with joint venture brands. Then, under the fluctuations in the auto market, will there be any signs of loosening the market position of independent brands? According to past experience, whenever there is an adjustment in the auto market, self-owned brands with weak core technologies will always bear the brunt of the impact. Just when people were worried that self-owned brands would repeat historical trends again, the actual results broke people’s inherent cognition. In January, a total of 758,000 self-owned brand passenger vehicles were sold, accounting for 51.6% of the total passenger vehicle sales, a year-on-year increase of 5.6 percentage points, surpassing joint venture brands to become the largest contributor to the passenger vehicle market.

In addition, the upgrading trend of passenger car consumption has shown people the unlimited potential for the development of the auto market. In January, among the traditional fuel passenger vehicles, the sales of vehicles in the price range of 300,000-350,000 yuan and above 500,000 yuan showed a positive year-on-year growth, with the largest increase of above 500,000 yuan. At present, 374,000 vehicles in the range of 100,000 to 150,000 yuan, which account for the largest sales volume in the market, were sold, a year-on-year decrease of 41.2%.

At the same time, in January, among the new energy passenger vehicles, the sales volume of models in the price range of 150,000-250,000 yuan and 350,000 yuan-500,000 yuan showed a positive year-on-year growth, of which the market share of the price range of 200,000 yuan-250,000 yuan increased. maximum.

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It is not difficult to see that both traditional fuel vehicles and new energy vehicles are showing a trend of upgrading the consumption structure.

Nowadays, in the automobile market, new energy vehicles, which have become the leading development trend of the automobile market, play an increasingly important role. The reporter noticed that in the era of subsidies, no matter how the development of the automobile market changes in recent years, new energy vehicles have maintained a stable development momentum. However, due to the retreat of the subsidy policy for new energy vehicles and the obvious fluctuations in market prices and other factors, new energy vehicles, which had maintained rapid growth before, were also affected to a certain extent. Data show that in January, sales of new energy vehicles reached 408,000 units, a year-on-year decrease of 6.3%. Compared with the Spring Festival month of 2022, the sales growth is as high as 22.2%.

Although sales of new energy vehicles declined, they were much higher than the overall performance of the auto market. In addition, changes in the market share of new energy vehicles, a key indicator to measure the acceptance of the new energy vehicle market, have aroused market attention. It is gratifying that in January, the market share of new energy vehicles reached 24.7%, hovering at a high level.

Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, told the reporter of China Consumer News that the role of new energy vehicles in driving the overall auto market has become increasingly prominent. In this context, new energy vehicles that have entered the stage of market-oriented development are likely to be the first to achieve positive growth, playing a positive role in promoting the recovery of the auto market.

Favorable policies promote automobile consumption

This year is a crucial year for the transformation, upgrading and development of the auto market. The China Automobile Association predicts that in 2023, the sales volume of my country’s auto market is expected to increase by 3% year-on-year. At this critical point, how to maintain the stable development of the auto market will test the ability of all parties in the auto market to respond to market changes. The reporter noticed that since the beginning of this year, more than 10 provinces and cities including Jilin, Guizhou, and Henan have successively introduced a number of favorable policies to support the stable development of the automobile consumer market.

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On February 8, Dalian City announced that it will issue 50 million yuan of automobile consumption coupons to consumers who buy cars in Dalian. The first phase of the activity is planned to be carried out from February 10 to March 31. On February 10, Fujian Province announced the launch of a car consumption promotion activity, and consumers who purchase new energy passenger cars and fuel passenger cars (new cars) with less than 7 seats (including 7 seats) and register them in the province will be given a minimum per A subsidy of 4,000 yuan and 3,000 yuan for each vehicle. In addition, Taiyuan City, Zhengzhou City and other places also released the potential of the automobile consumption market by issuing automobile consumption coupons. It is foreseeable that more provinces and cities will introduce local favorable policies to boost consumption in the auto market.

The China Association of Automobile Manufacturers said that looking forward to the first quarter, the task of stabilizing the growth of my country’s auto market is still facing certain pressures. The lack of effective demand in the market has caused the recovery of auto consumption to lag behind, and continuous boosting of policies is needed.

Chen Shihua said that recently, the relevant authorities have indicated that they will continue to stabilize and expand automobile consumption. At the same time, many places have successively introduced policies to promote consumption and encourage the development of new energy vehicles. In addition, the automobile consumption market is gradually returning to stability. Development infused with confidence.

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