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Production & Sales of New energy vehicles growth well in China

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Production & Sales of New energy vehicles growth well in China China News

On December 11, 2018, the China Association of Automobile Manufacturers (CAAM) announced vehicle production and sales results for November 2018.

Production and sales in November 2018 increased slightly month-over-month. Additionally, both production and sales continued their year-over-year (y/y) declines that had started in July. Year-to-date (YTD) production and sales figures from January to November showed more obvious y/y declines than that from January to October.
Overall vehicle production in November totaled 2.498 million units, up 7.0% m/m and down 18.9% y/y. Sales reached 2.548 million units, up 7.1% m/m and down 13.9% y/y. YTD production totaled 25.325 million units for a 2.6% y/y decline, while sales totaled 25.420 million units for a 1.7% y/y decline. Production and sales growth rates continue to decline.
Passenger vehicle production in November was 2.123 million units, representing a 6.0% m/m increase and a 20.5% y/y decline. Sales totaled 2.173 million units, representing a 6.2% m/m increase and a 16.1% y/y decline. Both production and sales showed y/y declines continuing for the fifth consecutive month, with the declines gradually growing in magnitude.
In the commercial vehicle segment, production totaled 375,000 units, up 13.0% m/m and down 8.7% y/y. Sales reached 374,000 units, up 12.3% m/m and 1.7% y/y.
For new energy vehicles (NEVs), production reached 173,000 units, up 36.9% y/y. Sales totaled 169,000 units, up 37.6% y/y. Among NEVs, EV production reached 135,000 units, up 23.6% y/y, while EV sales reached 138,000 units, up 30.3% y/y. Plug-in hybrid vehicle (PHV) production totaled 38,000 units for a y/y increase of 121.7%, while sales totaled 31,000 units for a y/y increase of 82.5%.
Sales of Chinese brand passenger vehicles totaled 910,000 units in November, reflecting a 23.3% y/y decline. Domestic brands accounted for 41.9% of total passenger vehicle sales, reflecting a y/y decline of 3.9 percentage points.
Exports for November reached 77,000 units, representing an m/m increase of 8.9% and a y/y decline of 12.5%. Passenger vehicle exports totaled 51,000 units, representing an increase of 2.7% m/m and a decline of 23.8% y/y. Commercial vehicle exports totaled 26,000 units, marking increases of 23.7% m/m and 23.6% y/y. Year-to-date (YTD) exports totaled 961,000 units, a 20.6% y/y increase.

Passenger vehicle exports totaled 701,000 units for a 24.3% y/y increase, while commercial vehicle exports totaled 260,000 units for an 11.8% y/y increase.

(Source : www.marklines.com)


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