[February 14, 2023](Comprehensive report by Epoch Times reporter Li Siqi) Even though many places in China issued auto consumption coupons in January, the auto market had a bad start to the year, with production and sales showing double-digit year-on-year and month-on-month figures fall.Chinese carsWhen the industry association released the information in January, it stated that “the lack of domestic effective demand has caused the recovery of automobile consumption to lag behind.”
February 10,Chinese carsThe Industry Association (China Automobile Association) released the production and sales of China’s auto industry in January. Data show that the production and sales of China’s auto market both experienced double-digit declines in January, mainly due to a significant decline in the production and sales of passenger cars, while the demand for commercial vehicles remained sluggish.
The production and sales of China’s auto market in January were 1.594 million and 1.649 million respectively, down 33.1% and 35.5% month-on-month and 34.3% and 35% year-on-year. The Chinese New Year in 2019 (before the epidemic) and 2022 are both in February. If the production and sales in January are compared with those in February in 2019 and 2022, the production and sales will also decrease. The production and sales volume in January decreased by 12.1% and 5.1% respectively compared with February 2022, which was more than that in February 2019 before the epidemic, with a decrease of 13% and 11.3% respectively.
According to the January car sales data released by the China Passenger Car Market Information Association (Passenger Association) on February 8, the retail sales of passenger cars in China reached 1.293 million units, a year-on-year decrease of 37.9% and a month-on-month decrease of 40.4%, the 1st month since this century. The lowest value for the month. Especially for new energy passenger vehicles, the wholesale sales in January were 389,000 units, a year-on-year decrease of 7.3% and a month-on-month decrease of 48.2%; the retail sales in January were 332,000 units, a year-on-year decrease of 6.3% and a month-on-month decrease of 48.3%.
China Association of Automobile Manufacturers on JanuaryAutomobile production and salesThe explanation for the decline is that in January, the market was affected by the Chinese New Year holiday and the overdraft of consumer demand in advance, and the purchase tax of traditional fuel vehicles and new energy vehicles were superimposed.subsidyImpact of Policy Exit.
Automobiles are the largest industrial product in the daily consumption of residents. The industrial chain is long and can create a large number of jobs. The local government of the Communist Party of China regards the issuance of automobile consumption coupons as an important means of increasing domestic demand.
For example, Tianjin has arranged 60 million yuan (about 9 million U.S. dollars) in car consumption before the Chinese New Year.subsidy, You can apply for use according to the prescribed process on January 11. The distribution time in Zhengzhou, Henan was earlier than in Tianjin, and the official distribution began on the morning of January 5.
At the same time, automobile manufacturers also want to use this to increase sales. For example, Jiangling Ford Motor Technology (Shanghai) launched a series of new products intensively from January 1 to 20, and SAIC’s subsidiary Fanfa Auto reduced prices on January 9. Some models of the “Wenjie” series of Celes Group provided new preferential prices in the early morning of January 13.
Auto sales fell sharply in January despite official policies and automakers working together. Chinese state media also reported car dealers’ concerns. Xilinhot in Inner Mongolia in northern China is a small city. The China Times reported that a certain brand of car dealer said that he was a little worried about the auto market in 2023. The peak period of the outbreak of purchasing power in Li…”
Responsible editor: Lian Shuhua#