China's car market kept stable growth in the first half of 2018-Exportimes

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China's car market kept stable growth in the first half of 2018

Date : 2018-07-16 | From : chinadaily

China's car market kept stable growth in the first half of this year, with sales of vehicles reaching 14.07 million — a 5.57 percent year-on-year increase — and output of vehicles expanding to 14.06 million, making for 4.15 percent year-on-year growth, according to Xinhua.

Data released by the China Association of Automobile Manufacturers showed the output growth of vehicles in H1 dropped by 0.49 percentage points year-on-year, while sales growth increased by 0.83 percentage points.

A total of 11.85 million passenger vehicles were produced in H1, an increase of 3.23 percent year-on-year, with sales of passenger vehicles reaching 11.78 million, up 4.64 percent year-on-year. Both the growth rates of output and sales improved compared to the same period last year.

The output and sales of commercial vehicles totaled 2.2 million and 2.29 million respectively in H1, up 9.41 percent and 10.58 percent year-on-year, with growth rates receding.

The new energy vehicle sector witnessed robust growth in H1.

New energy vehicle output climbed to 413,000 by 3.23 percent year-on-year in H1, of which the pure electric vehicles (PEVs) output and plug-in hybrid electric vehicle (PHEVs) output amounted to 314,000 and 100,000 respectively, up 79 percent and 170.2 percent year-on-year.

In addition, a total of 412,000 new energy vehicles were sold in H1, up 111.5 percent year-on-year. The sales of plug-in electric vehicles and plug-in hybrid electric vehicles increased 96 and 181.6 percent year-on-year to 313,000 and 99,000 respectively.

The top 10 Chinese auto brands by sales in H1 include SAIC Motor Corp Ltd, Chongqing Changan Automobile Co, Geely Auto Group, Dongfeng Motor Co Ltd, BAIC Motor, Great Wall Motor Co Ltd, China FAW Group Corp, Chery Automobile Co Ltd, Guangzhou Automobile Group Co Ltd and Anhui Jianghuai Automobile Group Corp Ltd.

They sold 5.94 million vehicles together in H1, accounting for 81.32 percent of the total sales of Chinese-brand vehicles.

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