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China’s Jan.-Feb. PV wholesale volume falls 16.7% year on year

Monika From Gasgoo| March 11 , 2019

Shanghai (Gasgoo)- According to sales data released by the China Passenger Car Association (CPCA), China’s passenger vehicle (PV) wholesales volume in February reached 1,207,538 units with a year-on-year (YoY) drop of 16.9%. Since there are only 21 days available for sale due to the Spring Festival, this number also represented a sharp month-on-month (MoM) decrease of 40.0%  (the “PV” mentioned here refers to cars, SUVs and MPVs locally produced in China).

China PV Feb. 2019 sales, CPCA Feb. 2019 sales, China automotive news

As to the performance of each segment in February, the MPV faced a YoY drop up to 29.7%. Besides, the car and the SUV’s wholesale volume shrank 13.3% and 18.3% over the previous year respectively.

China's PV wholesale volume aggregated 3,229,516 units for the first two months, sliding 16.7% from the previous year. Compared with the same period a year ago, three major segments all showed double-digit YoY decline.

China PV Feb. 2019 sales, CPCA Feb. 2019 sales, China automotive news

Aside from the fact of Chinese New Year Holiday, the CPCA said some OEMs are reducing vehicle outputs in order to clear the inventory before the China's Stage 6 Emission Standard is universally put into effect, which indirectly lowered the PV retail sales.The national PV retail sales in February evidently fell 19.0% over a year ago to 1,169,751 units. Meanwhile, the cumulative sales from January to February were also less than that of the previous year.

China PV Feb. 2019 sales, CPCA Feb. 2019 sales, China automotive news

The top 3 PV makers by Feb. wholesale volume were still SAIC Volkswagen, FAW-Volkswagen and SAIC-GM. SAIC Volkswagen was the champion with a sales volume of 111,017 units.

Although Geely Auto suffered a YoY decrease of around 24% affected by the earlier Spring Festival, it maintained the fourth place from the previous month. In addition, the automaker's Jan.-Feb. sales reached 241,945 units, dropping 9% year on year, while already completing 16% of its sales goal.The top 3 PV makers by Feb. wholesale volume were still SAIC Volkswagen, FAW-Volkswagen and SAIC-GM. SAIC Volkswagen was the champion with a sales volume of 111,017 units.The top 3 PV makers by Feb. wholesale volume were still SAIC Volkswagen, FAW-Volkswagen and SAIC-GM. SAIC Volkswagen was the champion with a sales volume of 111,017 units.

Beijing Hyundai, who ranked the seventh in January, failed to enter the top 10 list last month. Great Wall Motor, replacing Beijing Hyundai in February, achieved a double-digit YoY growth. According to the Baoding-based automaker’s sales report, it has gained positive YoY growth for the fifth month in a row. 

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