Total profit of automobile manufacturing industry in 2019 decreased by 15.9%

According to the National Bureau of statistics on February 3, the total profit of Industrial Enterprises above Designated Size in 2019 reached 6199.55 billion yuan, down 3.3% from last year. Among the 41 industries, total profits of 28 industries increased compared with last year, while 13 industries decreased, among which automobile manufacturing industry dropped by 15.9%. According to the data of China Automobile Industry Association, from January to December 2019, China's automobile production and sales were 25.721 million and 25.769 million respectively, down 7.5% and 8.2% year-on-year, and the decline in production and sales was 3.3% and 5.4% higher than last year. Among them, the annual production and sales of new energy vehicles were 1242000 and 1206000 respectively, down 2.3% and 4.0% year on year. For the forecast of automobile sales in 2020, Xu Haidong, assistant to the Secretary General of CAAC, predicted that the annual sales volume of China's automobile market would decline by about 2% in 2020.