Market News Analysis of the Situation and Development of China's Automobile Industry in 2019

| Author / Editor: Beijing Business Today / Theresa Knell

According to the latest data released by the Traffic Management Bureau of the Ministry of Public Security in the first half of the year, China has had 340 million motor vehicles as of the end of June 2019, of which 250 million were automobiles. There are 66 cities in China whose respective car pac has exceeded 1 million units and the number exceeded more than 3 million in 11 cities such as Beijing and Chengdu.

New Energy Vehicle
New Energy Vehicle
(Source: Baidu.com)

As reported, by the end of June 2019, China car pac reached 250 million units, accounting for 74.58 % of total motor vehicle volume. For the first half of 2019, the number of newly-registered vehicles aggregated 12.42 million decreasing 1.39 million from the same period last year.

It is worth mentioning that the car pac of new energy vehicle has totaled 3.44 million units accounting for 1.37 % of the total number of vehicles. Since the end of 2018, there were 830 thousand new energy vehicles with 31.87 % growth rate and the number had increased by 1.45 million with 72.85 % growth rate compared with the same period a year earlier. Among national car pac, 2.81 million units are BEVs accounting for 81.74 % of the new energy vehicle.

Statistics of Automobile Production in China from July 2018 to May 2019
Statistics of Automobile Production in China from July 2018 to May 2019
(Source: Qianzhan Industry Research Institute)

May 2019: China's automobile production and sales reached 10 million in total

At present, China's auto market has entered a period of deep adjustment and is at a key point of market transformation. According to the data in Analysis Report of Demand Outlook Forecast and Investment Strategic Planning of China's Automobile Manufacturing Industry published by Qianzhan Industry Research Institute, China automobile production and sales volume are 1.848 million and 1.913 million respectively in May 2019 with 9.9 % and 3.4 % decline rate compared with the previous month.

Accumulatively speaking, from January to May, 2019, China's automobile production and sales reached 10.237 million and 10.266 million respectively both declining by 13 % compared with the same period of last year with 2 % and 0.8 % fall compared with the amount from January and April.

New energy vehicles has become the main competition field

Statistics of Automobile Sales in China from July 2018 to May 2019
Statistics of Automobile Sales in China from July 2018 to May 2019
(Source: Qianzhan Industry Research Institute)

In fact, with the gradual improvement of consumers' environmental awareness and increasingly strict domestic environmental standards, the sales and car pac of domestic new energy vehicles have been steadily increasing. Under the background that new energy vehicles have become the trend of future development, this field has also become the main battlefield for the competition between traditional cars and new cars.

Industry insiders say it is the matter of time before auto companies make a comprehensive transition to the field of new energy vehicles. At present, the new energy automobile market has been transformed to intelligent, sharing and network connection. The transformation of traditional automobile enterprises and new energy cannot only stay within the enterprise, but also participate in the market ecological construction and keep pace with the development of the times, which will be the key for enterprises to keep a foothold in the market for a long time.

For more news visit our facebook page or twitter.

(ID:46039204)