Car sales continued to slow China's automobile market growth probably will be halved

Posted on 10/28/2014 4:22:08 PM

Following the September forum in Tianjin TEDA, "said this year's auto sales growth will slow to around 8.3 percent" post, according to foreign media reports, recently, Dong Yang, secretary general of China Association of Automobile Manufacturers forecast again, the automobile market growth during the year will further slowed to 7 percent, down about 1.3 percentage points higher than the previous. This means that this year's auto market growth may be only half of last year.
Data show that in 2013, China's domestic car sales 21,984,100, an increase of 13.87%; of which passenger car sales 17,928,900, an increase of 15.71 percent, commercial vehicle sales 4,055,200, an increase of 6.40%. And from the Automobile Association released data shows that in the first nine months, China's car sales were completed 17,225,900 and 17,000,900, respectively, an increase of 8.1% and 7% respectively over the same period last year, an increase over the previous year slowed 4.7 and 5.7, respectively percentage points.
The most direct cause of the sales slowdown in auto sales from the commercial vehicle market declined. Data show that 1 to Sept. commercial vehicle sales were completed 2,839,700 and 2,845,400, respectively, down 5.7% and 6.2% respectively over the previous year. Affected by the macroeconomic environment and the development of railway transport, road transport demand declined in recent years, a direct result of the slowdown in sales growth in the passenger car market, while the truck market subject to reduced emissions upgrades and demand for real estate and other manufacturing industries, also showing declining trend. Data show that passenger car sales growth of 6.8% and 8%, respectively, truck sales fell 7.7% and 8.4%, respectively.
Outside the commercial vehicle, this year's data consistently good performance passenger car market is not very optimistic. 1 to September passenger car sales were completed respectively 14,386,200 and 14,155,500, an increase of 11.3% and 10.2%. The increase compared with the same period in 2013, respectively, down 2.4 and 3.8 percentage points.
Deputy Secretary General of the National Federation of Choi Dong-tree view, the most direct cause of the increase should affect the auto market this year due to the impact of objective economic environment, and secondly, the periodic law is also being reflected in the automobile market. In his opinion, after the first few years of rapid growth, the auto market appears to fall short of adjustments and actually more normal. According to its introduction, the data from September this year to see, automobile installment sales rose less than expected by the Federation, but the terminal sales situation, basically consistent with previous expectations. "This means that this year, dealer inventories should be reduced." Choi Dong-tree said, "implies a certain extent, in the automobile market growth slowed in the background, in fact, there are car prices have already sold more objective and clear understanding. "
From the current point of view, the performance of the auto market this year, sales structure significantly, the German-American system still maintained a rapid growth, while French cars are put through a lot of new cars ushered in the rapid rise, but sales of Japanese cars still in the recovery period, the market share of independent brands Although in September terminated "Twelve losing streak," the tragic fate, but structural differentiation has significant horizon.
Statistics show that the first three quarters of this year, Nissan, Toyota, Honda's total sales in China were 879,000, 710,000 and 502,000, according to its annual sales target previously announced, the compliance rate was 62.8 percent, respectively, 64.5% and 55.8%. In view of this, Toyota's two joint venture companies have announced previously lowered the annual sales target, FAW Toyota from the beginning of 660,000 down to 620,000, while the Toyota Camry will also be 400,000 sales target set at the beginning down to 380,000 cars. Own brand, Great Wall Motor has always been a good performance in the first nine months performance is not optimistic, sales fell 8 percent, only 509,000, while living adjustment Geely Automobile sales fell 27 percent, only 274,000 . Prior to this, Geely announced that this year sales target from the previous 580,000 down to 430,000, its own brand passenger car sales target SAIC also lowered from the previous 260,000 to 200,000.

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