According to the national passenger car market information joint meeting (hereinafter referred to as "the association"), the car sales data released in the first quarter of this year on April 11th showed that the narrow passenger car fell 1% to 5,406,831, and the generalized passenger car fell 1.7%. To 5555878 vehicles. “In the first quarter, the overall auto market experienced negative growth, which is a very rare phenomenon in recent years.†Cui Dongshu, secretary-general of the Association, said that this is after the last month, the Federation once again worried about the status quo of the auto market.
The car market rebound rate is less than expected
From the dealer inventory index released by the China Automobile Dealers Association, the inventory index continued to be above the warning line in March, reaching 61.9%, the highest since 2016. Whether it is from the dealer inventory or from the dealer's business perspective, the market is far worse than expected.
Cui Dongshu believes that the inertia of the high-growth trend last year from January to February has fallen, but the degree of overdraft should not continue to affect March. This phenomenon of inconspicuous warming has been significantly lower than previously expected.
According to the analysis of the Association, the decline in the auto market in the first quarter has something to do with the halving of the purchase tax last year. At the same time, this year's major cities share the explosive growth of bicycles, the consumption of Korean cars is weak, and the stock market is sluggish, which also has a greater impact on the auto market.
In addition, the subsidies for new energy vehicles have fallen, the sales growth in the fourth- and fifth-tier cities has fallen short of expectations, and the operating costs of upstream and downstream enterprises in the automobile industry chain have risen sharply, which has affected the growth of the automobile market.
a new round of policy or the introduction of the year
This round of China’s auto market suddenly changed its face and hit all auto companies by surprise. Beginning in mid-March, many car companies began to cut prices and save themselves, especially the SUV market, which has always been popular, is the first to promote sales. For example, the Great Wall Haval’s measures to reduce the price of the “1 billion red envelopes†for the entire department have already caused the industry to smell the price of the tide.
It is obviously not enough for auto companies to “self-rescueâ€. The association believes that to promote economic recovery and promote automobile consumption, in addition to “cars going to the countryside†and promoting the circulation of used cars, more new policies that promote automobile consumption should be introduced. This year, it is possible to introduce policies such as “zero pay for auto finance†and “further accelerate the elimination of national 1 and country 2 modelsâ€. Compared with the car purchase tax halved, the new car policy is a "chronic drug", which can not see the effect in a short time, but the advantage is that the aftereffects are small.
Market share climbs SUV into the only bright spot
In April, despite the biennial Shanghai Auto Show, the Shanghai Auto Show only focused on releasing new products and will not introduce “save the city†measures. At the same time, automobile OEMs have adjusted production and sales plans, controlled production, reduced shipments to dealers, and reduced inventory pressure. The good news is that the arrival of the May Day holiday is a big plus for the auto market.
In terms of models, although some joint ventures and Chinese auto companies are concentrating on cars, in the first quarter of this year, the overall sales of cars have not improved significantly, with a cumulative decline of 9.4% to 2,575,648 vehicles in the first three months. The analysis believes that the weakening of the sedan market is related to the sharing of bicycles in large cities and the deceleration of the expansion of the network.
In addition, SUV still maintains a high-speed growth trend. In the first quarter of this year, the market share of SUV reached 39.97%, higher than the 36.84% annual average in 2016. As more auto companies introduce small, compact, medium-sized SUVs in different market segments, SUVs are coming to the forefront of the passenger car market.
The Korean car became the biggest loser in China's auto market in the first quarter of this year. Hyundai and Kia Motors sold a total of 72,032 vehicles in China in March, a sharp drop of 52% compared with 150,592 vehicles in the same period last year. Beijing Hyundai even missed the top ten in the list.
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