The latest information shows that, in October 2019, China's automobile production and sales continue to rise however quiet slowly. The passenger vehicle market consumer demand has not improved significantly and related enterprises are still under pressure while commercial vehicles continue to maintain a good momentum of growth with accelerated replacement and investment and new energy vehicles continue to show a sharp decline.
Automobile production and sales in October were 2.295 million and 2.284 million units increasing 3.9 % and 0.6 % month-on-month but decreasing 1.7 % and 4.0 % year-on-year. From January to October, China's automobile production and sales were 20.4444 million and 20.6552 million decreasing 10.4 % and 9.7 % year-on-year. The decline ratio of production and sales was respectively 1% and 0.6 % narrower than that in January-September period.
Passenger Vehicle Situation
In October, 1.938 million and 1.928 million passenger vehicles were produced and sold in China with 3.9 % month-on-month growth of output and 0.2 % month-on-month decline of sales and 3.2 % and 5.8 % year-on-year decline respectively.
From January to October, the production and sales of China's passenger vehicles is 17.012 million and 17.174 million decreasing 12.1 % and 11.0 % year-on-year. Compared with the same period of last year, the production and sales of the four categories of passenger vehicles declined and the decline of multi-function passenger vehicles (MPV) was more obvious.
Commercial Vehicle Situation
In October, 358,000 and 357,000 commercial vehicles were produced and sold in China with 3.9 % and 4.8 % month-on-month growth and 7.7 % and 7.0 % year-on-year growth. In the main varieties of commercial vehicles, the production and sales of truck are both on a sequential year-on-year growth while passenger cars have declined.
From January to October, the production and sales of China's commercial vehicle is 3.432 million and 3.478 million decreasing 1.3 % and 2.5 % year on year and the decline rate was also narrower than that in January-September period. In the main varieties of commercial vehicles, compared with the same period last year, truck and passenger car production and sales continue to show a small decline.
New Energy Vehicles Situation
In October, 95,000 and 75,000 units’ new energy vehicles were produced and sold in China. The output increased 6.2 % month-on-month, while the sales volume dropped 5.9 % month-on-month, down 35.4 % and 45.6 % year-on-year. Compared with the previous month, the production of pure electric and plug-in hybrid electric vehicles showed an increase while the sales volume showed different degrees of decline. In addition, the production and sales of fuel cell vehicles decreased by nearly 40 % which is much more than other new energy vehicles.
From January to October, China's production and sales of new energy vehicles reached 983,000 and 947,000 increasing 11.7 % and 10.2 % year on year. The growth rate continued to drop from January to September. Among the main types of new energy vehicles, the production and sales of pure electric vehicles maintained a year-on-year growth, while the decline of plug-in hybrid electric vehicles increased.