October 2017 Economic Operation of the Automotive Industry

In October 2017, automobile production and sales maintained growth year-on-year, a slight decrease from the previous quarter. From January to October, automobile production and sales maintained a slight increase, and the growth rate fell slightly from the previous three quarters.

First, October car sales rose 2.0% year-on-year

In October, the production and sales of automobiles reached 2.604 million units and 2.704 million units, respectively, which represented an increase of 0.7% and 2.0% year-on-year, respectively, which fell by 2.5% and 0.2% respectively.

From January to October, the production and sales of automobiles reached 22.297 million vehicles and 22.927 million vehicles, respectively, an increase of 4.3% and 4.1% year-on-year respectively.

(I) October passenger car sales increased 0.4% year-on-year

In October, the number of passenger cars produced was 2.225 million units, which represented a year-on-year decrease of 2.7% and sales of 2.352 million units, a year-on-year increase of 0.4%. Among them, the production and sales of cars were completed 1,050,000 and 1,107,000 respectively, a year-on-year decrease of 6.1% and 5.4% respectively; SUV production and sales were completed by 954,000 and 1.021 million, respectively, an increase of 9.6% and 13.9% respectively; MPV production and sales were completed 180,000 respectively. The number of vehicles and 199,000 vehicles was down 27.4% and 18.1% year-on-year respectively; production and sales of cross-type passenger cars were completed by 41,000 and 35,000 vehicles, respectively, down 18.8% and 24.2% respectively year-on-year.

From January to October, accumulative production and sales of passenger vehicles completed 19.9533 million vehicles and 19.502 million vehicles respectively, which was an increase of 2.3% and 2.1% year-on-year respectively. Among them, the production and sales of cars reached 9.444 million units and 9.426 million units respectively, which was a year-on-year decrease of 1.4% and 1.9% respectively; SUV production and sales were completed at 802.7 and 7.982 million units, respectively, an increase of 15.5% and 15.8% year-on-year; MPV production and sales were completed at 1.648 million units respectively. 16.41 million units, down 16.9% and 17.2% year-on-year respectively; production and sales of cross-type passenger vehicles were completed with 435,000 and 454,000 vehicles, respectively, down 26.6% and 25.4% year-on-year respectively.

1.1.6 liters or less passenger car sales decreased by 4.4% year-on-year

In October, 1.617 liters or less of passenger cars sold 1.637 million vehicles, a year-on-year decrease of 4.4%, accounting for 69.6% of passenger car sales, down 2.5 percentage points.

From January to October, cumulative sales of passenger cars with 1.6 liters or less were 13.333 million vehicles, a year-on-year decrease of 2.0%, accounting for 68.4% of sales of passenger cars, down 2.9 percentage points.

2. Chinese brand passenger car market share slightly lower than the same period

In October, a total of 1.039 million Chinese branded passenger vehicles were sold, a year-on-year decrease of 1.8%, accounting for 44.2% of the total sales of passenger cars, down 1 percentage point.

From January to October, the cumulative sales of Chinese passenger car brands reached 8.393 million, an increase of 3.2% year-on-year, accounting for 43.0% of the total sales of passenger cars; among them, the sales of cars were 1,800,000, a year-on-year decrease of 0.8%, and the market share was 19.1%; SUV sales were 4.768 million units, an increase of 21.3% over the same period last year, with a market share of 59.7%; MPV sales were 1.371 million units, a year-on-year decrease of 22.8% and a market share of 83.6%.

(II) Sales volume of commercial vehicles in October increased by 14.8% year-on-year

In October, commercial vehicle production reached 379,000 units, an increase of 26.6% year-on-year and sales of 351,000 vehicles, a year-on-year increase of 14.8%.

From January to October, the cumulative production and sales of commercial vehicles completed 3.404 million vehicles and 3.425 million vehicles, respectively, an increase of 16.9% and 17.2% year-on-year respectively. In terms of production and sales of sub-models, the production and sales of passenger cars decreased by 6.9% and 6.7% respectively year-on-year; the production and sales of trucks increased by 21.1% and 21.3% respectively year-on-year.

Second, October new energy vehicle sales increased 106.7% year-on-year

In October, the production and sales of new energy vehicles completed 92,000 and 91,000 vehicles, respectively, an increase of 85.9% and 106.7% year-on-year respectively. Among them, the production and sales of pure electric vehicles all completed 77,000 vehicles, an increase of 76.3% and 95.8% year-on-year respectively; the production and sales of plug-in hybrid vehicles all completed 14,000, an increase of 163.6% and 194.0% respectively.

From January to October, the production and sales of new energy vehicles completed 517,000 vehicles and 490,000 vehicles, respectively, an increase of 45.7% and 45.4% year-on-year respectively. Among them, the production and sales of pure electric vehicles were completed by 427,000 units and 402,000 units respectively, an increase of 54.7% and 55.9% year-on-year, respectively; the production and sales of plug-in hybrid vehicles were 90,000 units and 88,000 units, respectively, a year-on-year increase of 14.0% and 11.2% respectively. .

3. From January to September, the main business of key enterprises increased by 11.5% year-on-year

The operating income, profits and taxes of the key enterprises (groups) in the industry were all higher than the same period of last year. From January to September, the key enterprises (groups) of the automotive industry realized a total of RMB 238.97 billion in main business income, a year-on-year increase of 11.5%. Accumulated profits and taxes totaled 459.15 billion yuan, a year-on-year increase of 9.5%.

Fourth, September auto exports increased 17.8% year-on-year

According to customs statistics, in September, the number of autos imported was 107,000, which was a year-on-year increase of 18.5%; the number of autos exported was 94,000, an increase of 18.7% year-on-year.

From January to September, total vehicle imports totaled 914,000, an increase of 20.2% year-on-year; total vehicle exports totaled 742,000, a year-on-year increase of 27.7%.

(Note: The above data in the first, second and third years comes from the Automobile Industry Association)