China Jan-Oct PV wholesale volume down by 0.7% YoY, CPCA

Shanghai (Gasgoo)- According to the China Passenger Car Association (CPCA), China's passenger vehicle (PV) retail sales reached 1,950,342 units in October, edging up 2.4% month on month (MoM), while still falling 13.2% year on year (YoY). For the first ten months, the PV retail sales aggregated 18,128,486 units nationwide, edging down 2.1% over the previous year (the “PV” mentioned here refers to cars, SUVs and MPVs locally produced in China).

As to the performance of each segment, the retail sales of the car and MPV segments were a bit lower than that of a month earlier. Only the SUV segment presented a positive MoM increase of 6.9%. Compared with the performance in October, 2017, all three segments posted double-digit decline in Oct. sales this year. Besides, none of three segments achieved positive YoY growth in Jan-Oct sales.

Last month, the PV wholesale volume in China amounted to 2,019,493 units, slightly declining 0.2% over a month ago, while evidently dropping 12.7% over a year ago. The Oct. sales of the car, MPV and SUV were all less than that of a year ago.

By the end of October, China's PV wholesale volume cumulated to 18,933,137 units in 2018 with a YoY decrease of 0.7%. The SUV year-to-date (YTD) sales totaled 8,130,946 units, up by 1.4% from the year-ago period. Nevertheless, both car and MPV segments faced YoY drop in YTD sales.

The top 3 PV makers by Oct. wholesale volume were still SAIC-GM, SAIC Volkswagen and FAW-Volkswagen. SAIC-GM took the championship by 3,154 units more than the runner-up SAIC Volkswagen. Geely Auto, Dongfeng Nissan and SAIC-GM-Wuling ranked fourth to sixth with their rankings remaining same as the previous month. Three China-owned PV makers entered the top 10 list, namely, Geely Auto, Great Wall Motor and Changan Automobile. Beijing Hyundai was edged out the list last month.