In September, China's auto sales rose on a month on month basis

The passenger Federation recently released the sales data of China's automobile market in September. According to the data, the sales volume of China's narrow sense passenger vehicle market in September was 1.781 million, down 6.5% year on year and up 14.0% month on month. From January to September, the cumulative sales volume of China's passenger vehicle market reached 14782000, down 8.6% year on year. It can be seen that the traditional "golden nine silver ten" did not come as expected. Although the sales volume of narrow sense passenger vehicle market rose by 14.0% month on month in September, China's vehicle market is still in the "cold winter". Let's take a look at the sales trend of passenger vehicle market in September. Overall sales trend: the increase of 14.0% on month in September is a new low over the years. From the perspective of overall market sales, the retail sales in the national passenger car market in September were 1.781 million, down 6.5% year-on-year, and the retail sales in narrow sense from January to September this year were down 8.6% year-on-year. The passenger Federation said that the year-on-year growth of retail sales in September was slightly better than the growth in August and the cumulative growth in January to September.

Retail sales rose 14.0% month on month in September, the lowest in the past year. According to the passenger Federation, there are two main factors for the slight recovery. One is that the main engine manufacturers at the supply side have been launching six models for three months. Taking advantage of the hot consumer enthusiasm of the Mid Autumn Festival and the 70th anniversary of the national day, they have increased incentives from manufacturers, launched various promotional policies and measures to attract the store's passenger flow. The consumer confidence at the demand side is still in the recovery period, which will bring the purchase in the short term. It is difficult to recover the strength to the high point, so the factors on both sides of the supply and demand form the result of a small pick-up on a month on month basis. On the other hand, from the analysis of external factors, automobile consumption is affected by the year-on-year rise of house prices in the Midwest and low-end markets. The continuous real estate pressure has a shunt impact on the purchase of cars and vehicle consumption, especially on the independent brands and entry-level models. In addition, in September, the wholesale sales volume of manufacturers reached 1.902 million units, down 6.0% year-on-year, and up 17.2% month on month. Compared with the performance of Jinjiu Yinshi, which rose about 20% month on month in September over the years, the wholesale sales volume in September this year is not strong, and tends to be rational for the market trend throughout the year. In terms of production, China's passenger vehicle production in September was 1.846 million, down 6.9%, up 11.2% month on month, and the manufacturer's inventory was down 61000 from August. Although some enterprises gradually put the six models in place, the production arrangement of enterprises is extremely cautious, and it is urgent to upgrade the market feedback speed.

In September, the wholesale growth rate of pure electric passenger vehicles fell by 31% year on year, 12% month on month; the growth rate of class a electric vehicles fell by 1% year on year; the demand for new energy in cities with limited purchase slowed down and the demand for new cars in low-end markets was relatively low. In September, the number of plug-in hybrids dropped by 44% year-on-year and rose by 6% month on month; among them, the number of joint venture brand plug-in hybrids rose by 80% year-on-year, the proportion of independent brand plug-in hybrids fell by 60%, and the share of joint venture brand plug-in hybrids reached 45%. The wholesale number of ordinary hybrid passenger vehicles was 29000, up 61% year on year and 26% month on month. From the perspective of cumulative sales volume, 778000 new energy passenger vehicles were wholesale from January to September this year, with a year-on-year growth rate of 29.4%. The Federation said: due to the sharp rise in sales costs caused by the decline of subsidies at the end of June, coupled with the disturbance of second-hand new energy vehicles, it is difficult for all links of production and marketing to quickly cope with such cost changes. In addition, the passenger association also believes that the low maintenance rate of new energy vehicles, especially electric vehicles, is a major consumer purchase concern. Due to the battery life of electric vehicles is difficult to reach more than 15 years of service life of traditional vehicles, coupled with the rapid technological upgrading of electric vehicles, its maintenance rate is slightly lower than that of traditional vehicles. In the future, with the improvement of new energy vehicle products and the expansion of market scale, the continuous enrichment of product diversity, the maintenance residual value rate of vehicle enterprises and other measures, the low maintenance rate of new energy vehicles will gradually improve. Sales trend by model category: Sales of cars, SUVs and MPVS are up on a month on month basis.

In terms of sales of models, sales of cars, SUVs and MPVS in September were 859000, 809000 and 114000 respectively. Compared with last month's sales volume, sedans grew by 13.2% month on month, SUVs by 14.5% month on month and MPVS by 16% month on month. Sales of all three models increased. However, compared with the same period last year, the sales volume of sedan, SUV and MPV decreased by 11.2%, 0.6% and 14.5% respectively. According to this analysis, the retail sales of SUV market in September increased by 0.6% year-on-year, among which the performance of joint venture new products was excellent, the retail sales of sedans decreased by 11.2% year-on-year, and the cumulative decline rate was 9.4% compared with that in 19 years, which was due to the large decline of class A and below sedans due to new energy vehicles and other factors. Sales trend of all manufacturers: Chang'an Automobile ranked ninth in the top ten with 67000 vehicles. From the perspective of sales volume of narrow sense passenger vehicle manufacturers, the top five sales volume in September were FAW Volkswagen, SAIC Volkswagen, SAIC GM, Dongfeng Nissan and Geely, with sales volume of 193000, 175000, 124000, 113000 and 111000 respectively. Compared with August, SAIC GM ranked in the top three from the fourth, Dongfeng Nissan ranked fourth, and Geely Automobile kept its fifth position. Great Wall Motor, Dongfeng Honda, SAIC GM Wuling, Chang'an Automobile and GAC Honda ranked sixth to tenth. It can be seen that Great Wall Motor's sales volume this month reached 83000, jumping from 10th in August to 6th. In addition, Chang'an Automobile also appeared in the top ten this month, ranking ninth with 67000 vehicles, while Guangguang ranked ninth last month.