HomeElectric Vehicle NewsChina auto gross sales up 18.7% YoY in February 2022

China auto gross sales up 18.7% YoY in February 2022

China’s car gross sales, manufacturing, and export quantity noticed a month-over-month drop in February due to the one-week lengthy Chinese New Yr vacation and sporadic COVID-19 outbreaks, however the market remained steady with year-over-year gross sales will increase within the first two months of this yr. The gross sales and manufacturing quantity represented a progress of 10% in comparison with the identical interval of 2019.

China auto sales up 18.7% YoY in February 2022

China’s auto gross sales jumped 18.7% yr over yr in February to 1.737 million models, in accordance with information from the China Affiliation of Vehicle Producers. The overall gross sales within the first two months of this yr amounted to 4.268 million models, representing a year-over-year progress of seven.5%. In contrast with January, February gross sales noticed a decline of 31.4%.

Concerning manufacturing quantity, the nation constructed 1.813 million autos final month, down 25.2% month over month however up 20.6% yr over yr whereas the year-to-date outputs elevated 8.8% from a yr earlier to 4.235 million models, the affiliation mentioned.

China auto sales up 18.7% YoY in February 2022

The passenger car phase had a double-digit decline from a month in the past in each month-to-month gross sales and output, however they managed to see a double-digit year-over-year leap. The mixed gross sales quantity of the sector went up by 14.4% from a yr earlier to three.674 million models.

The market share of Chinese manufacturers’ passenger car gross sales stayed flat in February in contrast with the identical month of final yr. Passenger car gross sales of Chinese manufacturers jumped 28% from a yr earlier to 634,000 models, with a share of 42.6%. All through February, Chinese manufacturers have offered a complete of 1.637 million passenger autos this yr, rising 20.3% yr over yr. The share of year-to-date gross sales rose 2.2 share factors to 44.6%.

The gross sales of locally-made passenger autos from premium manufacturers amounted to 268,000 models, surging 31.6% from a yr in the past, 20.5 share factors increased than that of January. By the tip of February, gross sales of premium-branded passenger autos edged up 20% yr over yr to 656,000 models.

Business autos had a narrower year-over-year lower in February than the earlier month. The manufacturing and sale quantity of the sector totaled 279,000 and 250,000 autos, down by 18.3% and 16.6% respectively versus the outcomes of February in 2021, 9.7 and eight.5 share factors fewer than the earlier month.

China auto sales up 18.7% YoY in February 2022

New power car (NEV) manufacturing and gross sales continued to have fast progress final month. The most important automotive market made and offered 368,000 and 334,000 NEVs, surging 200% and 180% yr over yr. Month-to-month gross sales of the plug-in hybrid electrical car phase soared 340% to 75,000 models whereas the gross sales of gasoline cell autos stood at 178 models with a year-over-year progress of 540% due to low base.

China’s NEV gross sales amounted to 765,000 autos within the first two months of this yr, up by 150% from a yr earlier. The market share of this phase was 17.9%.

Final month, the nation exported 180,000 autos to different markets, falling 21.9% month over month however leaping 60.8% yr over yr. The outcomes included 146,000 passenger autos and 34,000 business autos. 52% of the month-to-month export progress got here from NEVs.

The Jan.-Feb. export quantity grew by 75% to 412,000 models, together with 331,000 passenger autos and 81,000 business autos. The consequence of the Russia-Ukraine battle could also be seen within the export outcomes of March, the affiliation added.

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